eBay

eBAY AUCTIONS AND MARKETPLACE

Overstock

OVERSTOCK AUCTIONS

Q: What is Overstock.com Auctions?
A: Overstock.com Auctions is an online auctions platform where users buy and sell new or previously-owned goods at competitive prices through business transactions with one another. The buying and selling process is simple:
1. A seller lists an item, indicating/specifying its minimum opening bid amount (required), a Make it MineSM price (optional), and the duration of the auction. A seller who lists a lower opening bid (“starting”) price increases the likelihood that bidders will compete with one another to win the auction. Bidders can also select the Make It Mine option (if available) to purchase the item immediately at the seller’s specified price. Auctions can be listed for 3, 5, 7, or 10 days (30 or 90 days if real estate).
2. A user either places the highest bid or clicks the Make It Mine button to win an auction. Potential buyers bid against one another to win an auction, and the highest bidder at the end of the auction is the winner. If the buyer selects Make It Mine, the auction ends immediately and the buyer pays the seller the specified price.
3. Once the auction ends, the seller and the winning bidder make payment arrangements. The winning bidder’s credit card (on file with Overstock.com Auctions) is not charged to pay the seller for the auction. The winning bidder should send payment after receiving an invoice from the seller that indicates available payment options. Every bid placed is considered a contractual commitment to purchase the item from the seller at the seller’s specified price.

uBid

uBID AUCTIONS

* uBid.com operates one of the largest online auction sites in the United States, located at www.ubid.com offering new, close-out, overstock and refurbished merchandise to both consumers and businesses through a trusted auction style and fixed price format.
* The company provides consumers the opportunity to bid on or buy a wide variety of popular, brand name products at significant discounts. Consumers have the opportunity to bid their own prices on popular, brand-name products. Savings are generally 20% to 80% off retail prices. uBid also offers items at low fixed prices called "uBuyitnowTM"
* uBid.com's online marketplace provides merchants with an efficient and economical channel for maximizing revenue on their surplus merchandise.
* uBid.com has registered over 5 million customers and sold over $1 billion dollars in merchandise since it started in 1997. The company currently attracts over 2.0 million unique visitors a month to its website, www.ubid.com
* Founded in 1997, uBid.com re-entered the public markets in 2005. The company's stock is traded on the NASD OTC Bulletin Board under the symbol, UBHI.OB

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