LOS ANGELES - Feb. 14, 2002 -- As online auction sellers become increasingly dissatisfied with listing fees on major internet auction websites like eBay (Nasdaq:EBAY) and Yahoo! Auctions (Nasdaq:YHOO), a new auction site called auctionblocks.net gives sellers the ability to list their wares for free. "There is a large demand for an online auction service that does not charge up-front seller fees," says Aaron Bradley, Founder and CEO of Auctionblocks.net. "A lot of merchants have contacted me saying that they were seeking a free auction site and were very pleased to have found us."

Auctionblocks.net was launched in late December and has a modest but rapidly-growing user base of 1100 registered members. Along with free listings, sellers are provided with free image hosting and free featured auctions. All listings that include a photo are added to the feature rotation on the website's front page and on the appropriate category page. "By featuring everyone's auctions equally, sellers are getting a good amount of exposure for each of their listings, in many cases 30 or more unique ad views," explains Bradley.

In the present economy, buying and selling on a free auction site like auctionblocks.net can be very appealing. "We feel that our site will be highly attractive to buyers looking for bargains and to auctioneers who are unable or unwilling to roll the dice," says Bradley. "Many sellers are feeling the pinch of the current economic recession and can't afford to pay for listings or risk losing money if their auctions are unsuccessful. Also, for low priced items such as baseball cards which might sell individually for less than a dollar, a listing fee can literally double or triple the asking price. Auctionblocks.net solves these problems and offers a viable alternative to the fee-based auction sites."

Auctionblocks.net charges a 2.5% commission for successful auctions, which is significantly less than eBay or Yahoo. Plans to drive targeted traffic to sellers' listings at auctionblocks.net include premium search engine listings, banner advertising, and an affiliate program that will pay $1.00 for new user referrals. "We are highly motivated to bring prospective buyers to our website so that we can earn sales commission," explains Bradley. "If our sellers don't make any money than neither do we. We intend to market our website very aggressively."

To ensure safe trading in its marketplace, Auctionblocks.net records users' unique IP addresses every time they access the website. "We will not tolerate abuse or illegal activity," says Bradley. "It is our mission to provide a safe and enjoyable auction community." A public feedback system enables buyers and sellers to grade each other after every auction. Users that have already established a feedback profile on other auction sites may import their feedback rating to auctionblocks.net.

Future development plans for Auctionblocks.net include private label auction hosting, dutch (multiple quantity) auctions, charity auctions, and free raffle drawings. Bradley handles all of the programming chores himself. "It is my goal to make our website user friendly and every bit as powerful as the major competitors," he says. "I am constantly upgrading our software without interrupting service, and I am always open to suggestions and recommendations from our members."

Those interested in buying or selling at Auctionblocks.net should log on to http://auctionblocks.net For more information about Auctionblocks.net, please contact Aaron Bradley at abradley@auctionblocks.net.