A new website focused on the NZ IT Industy

2 September 2009

PRESS RELEASE

A new website focused on the New Zealand IT Industry launched.

www.DealFoundry.com is an Online Auction site that is has been developed specifically with the IT industry in mind.

DealFoundry differs significantly from traditional Online Auction sites in the following ways:

• DealFoundry uses the “Dutch Auction” method. Prices start high and drop during the course of the Auction. The Auction finishes when there are no more item to bid on, or, when the reserve price is met.

Dutch Auctions are also the preferred method of auctioning bulk lots as bidders can purchase any quantity.

• DealFoundry uses a “Private Auction” mechanism. Private Auctions enable the seller to identify who is permitted to bid on the Auction. Only those people can see, and therefore, bid on the lots.

The Dutch auction style also brings some fun to making purchases: the anticipation of – do I buy now? Or wait for a better price? But if I wait, will someone else beat me to it?

A diverse range of individuals and organisations are making use of DealFoundry, including:

• Consumers and Small Business are able to use the site to buy and sell both new and used products.

• Computer dealers and stores can use the site in a number of ways. They might choose to use the Private Auction feature to reward loyal customers with exceptional deals.

• IT Manufacturers and Distributers will be able to take advantage of the Private Auction feature to Auction off slow moving stock to their Dealers, without going to the public.

The Auction fee structure is very simple - a single, small, one off fee per Auction. Auctions can be re-listed at no cost until all the items are sold. There are no percentage fees to tax you success.

Customers opening an account today will find an introductory gift of $10 pre-loaded on their account.

ENDS

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