VerticalNet Jumps Onto Online Auction Bandwagon

VerticalNet, Inc., Horseham, PA, an owner and operator of industry-specific Web sites, has launched an online auction service.

With the service, the company — which already has more than 100,000 registered users among its 35 targeted communities — will reportedly also be able to auction off excess inventory or other merchandise. Buyers can browse the auction and fixed-price categories free of charge and place bids on items of interest. Sellers can list their items (including technical descriptions and photos) free of charge and pay VerticalNet a commission only when their items are sold.