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This is the press release from Hornby. The auction site opens for business on Wednesday.

QUOTE Introducing…
THE new, dedicated online meeting place
for model and toy collectors worldwide!

Whether you're new to the wonders of online trading or a seasoned bargain hunter looking for fresh pastures… a visit to this unique new online marketplace is an absolute must. Hosted by the tried and trusted household name of Hornby, it's simply the perfect meeting place… not just for dedicated collectors, but for everyone even vaguely interested in the obvious charms and hidden value of any model and toy collectables.

As long as the objects put on sale are over three years old and not listed in their manufacturer's current catalogue, they're eligible to take a place among the many varied and coveted auction items available for sale at www.model-auctions.com

As the domain name suggests, www.model-auctions.com is not exclusive Hornby territory: the site covers anything and everything remotely related to collectable models and toys of all makes and types, including trains, cars, boats, dolls, soldiers, soft toys, games - and much more!

For instance, collectors of classic models, toys and games such as Scalextric, Meccano (which was actually invented by company founder Frank Hornby himself), Action Man and Barbie - even My Little Pony and Sylvanian Families - are able to log on and search for cherished items.

But there's truly something to interest everyone, so whether you're out to enhance an existing collection, ready to embark on your first exciting steps into the world of collectable toys and models, or simply looking for a unique and thrilling gift for a friend or loved one, a visit to this fascinating website - to browse, buy or sell - is yours, at the click of a mouse!

It's all so easy…
Registering at www.model-auctions.com couldn't be simpler ... and, of course, it's absolutely FREE! The site is designed to be really user-friendly and straightforward right from the start. The basic sales listings are just 5p, so you can get going straight away with very little outlay! You'll also find that it's one of the best value online auction sites available, too - especially when compared to the big online trading sites like eBay, which deal with everything under the sun.

With the well-respected name of Hornby at the helm… with its unique, 100-year old heritage and worldwide reputation that's simply second to none, you can trade with confidence on www.model-auctions.com - secure in the knowledge that you're buying and selling on a selective, dedicated site also frequented by true toy and model experts and collectors from around the globe. And best of all, the whole process is a really fun and thrilling experience!

Safety in numbers
When posting your auction item, there's absolutely no need to worry about the safety of your money. All online payment to Hornby, the auction host, is made safely and securely via PayPal - the global leader in online payment solutions with more than 45 million accounts worldwide, and consistently ranked the number one personal finance site. It uses the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment service - so you can proceed with complete confidence.

How do I make a start?
This is just a brief overview of the service available at
www.model-auctions.com to get you going -
for full details and step-by-step instructions
please visit the site and click on Start Here/Help and FAQs.

For anyone new to internet auctions, the clear, user-friendly instructions at www.model-auctions.com will steer you safely and confidently through every stage of buying or selling on the site - and once you take that first step you'll be amazed at just how simple the entire process is!

All you need is a PC with a link to the internet and your own email address. Go straight to www.model-auctions.com and have a look around the site. You can browse at any time without registering, but to bid or post an auction, you must first register (FREE!), simply by clicking on the Register link, and following the clear instructions.

Your password will be sent to your email address - and then you're ready to go! And don't worry - the website is, of course, registered in the UK under the Data Protection Act to hold customer data, so your privacy is guaranteed.

Once you're registered you can navigate your way around the site freely - and immediately set yourself up to sell something… or bid for items available. If you're selling, there are a host of options available to you from 5p standard, reverse, multiple quantity and blind listings, to a choice of upgrades including boldface listing (£0.75), featured auctions (£7.50), Premiere Auctions (£15), Gallery (£0.15) or Highlight (£2.25), for example. You can do something simple, or something really quite clever; add a digital image if you have one… be as creative as you like!

Once you've posted a 'lot' it's easy to keep track of what's happening at every stage, and when you finally receive a successful bid you and your buyer's details are automatically exchanged so that payment and delivery/collection can be arranged between the two of you.

To make a bid you simply browse for items which interest you by using the search facility located on every page, click on 'Place a Bid' when you see something of interest - and then follow the easy onscreen instructions. You will be emailed automatically after the auction has closed to advise you how the bidding ended. Auction results are also available in the Membership section of the website.

Chief Executive Frank Martin is enthusiastic about Hornby's move into e-commerce: "We've always kept abreast of consumer trends, and in setting up this super online auction site we're doing just that - providing model and toy enthusiasts with the opportunity to expand and evolve their collections - in a global marketplace.

"We conducted careful research before setting up the site, which concluded that with our market leader status we are well positioned to take the lead in establishing a dedicated forum, both for the enthusiast and the casual seller or buyer."

So there we have it - your fast-track entry into the fabulously fun, stimulating and satisfying world of toy and model collectables, courtesy of the world renowned Hornby name, one that inspires confidence, trust ... and the ability to create and run a truly modern marketplace - on a worldwide basis.

Happy Modelling
Gary
 

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www.model-auctions.com is now open for business!

I have had a look and I believe Hornby have got it spot on. For just 20p with a gallery image you can list an item for sale, start the price at £5, and set a hidden reserve that nobody sees. The basic listing fee is a flat 5p only!


You can also use html to create imaginative auction listings.

Like all things it takes time to get used to a new set up.

And there are a number of bid options that are not available on Ebay.

The "standard auction" we are all familiar with. The big difference is that there is a flat listing fee that is not related at all to the reserve. A Standard Auction is one in which bidding raises the price incrementally. Standard auctions can have a Reserve Price, and use Proxy Bidding. This makes for a low cost, low risk listing for sellers.

The winner of a Standard Auction is the person with the highest bid at the end of the auction. The auction is considered successful if the Reserve Price has been met. If the Reserve Price was not met, the auction is considered unsuccessful and the item owner is under no obligation to sell the item.

If you want something you can list a "reverse auction". A reverse auction, also known as an upside down auction is an auction where people can list what they want and need and have other people submit offers to them.

When someone posts a reverse auction, he/she is not intending to sell something, but rather to buy something. That something can be a product or a service. As a reverse auction progresses, the price drops.

And then there are "blind" auctions. A Blind Auction may also be known as a Silent auction. This works very similar to a Standard auction where the highest bidder wins the auction. However, in a Blind auction, the bidding process is not interactive and the bidders will only receive information on their bid ranking when the auction closes. A Blind auction also differs from a Standard auction in that it does not offer a Reserve price and does not utilize any Proxy bidding.

And then for 5p (20p with gallery image) you can have a "fixed price" auction. A Fixed Price Auction is really not an auction at all, but rather an item for sale. The fixed price auction differs in that the first bidder to place a bid will win the item and the auction closes immediately.

Then there is the "Multiple Item Auction". A Multiple Item, also known as a Dutch auction, is where the auctioneer has two or more items that are exactly the same and is willing to break them up to sell to individual bidders. If the auctioneer wants to sell multiple items as a single lot to a single bidder, he/she should use a Standard auction. In a Multiple Item auction, there is also a difference as to how winning bids are determined and broken down. There can be multiple winning bidders in a Multiple Item auction. The winning bidders are determined by who has bid the highest, earliest and for what quantity of items. However, all winning bidders will pay the same winning bid amount, which is determined by the lowest successfully winning bid. Multiple Item auctions can not have a Reserve price in effect and does not permit Proxy bidding.

For Example, a Multiple Item auction has been placed with 10 items for sale. The opening price for the items is £1.00 each. After the auction opens, 20 people place equal bids for the items at £1.00 each. If the auction were to close at this point, only the first 10 people to bid would be declared winning bidders. Earlier bids take precedence over later bids of an equal amount (and in this case, quantity). However, before the auction closes, a new bidder places a bid of £3.00 for one of the items. Because this person has placed the highest bid, if the auction were to close now, he or she will win one of the 10 auction items. The remaining 9 items are won by the first 9 bidders who bid at £1.00. However, because all bids will be accepted at the lowest winning bid, the person who bid £3.00 will only be required to pay £1.00 for the item. By bidding over opening price, new bidders can essentially knock the earlier low bidders out of the running which helps guarantee then a higher placing.

Payment is by Paypal.

This makes it all very exciting for buyers and sellers.

Happy bidding
Gary
 
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