Atomic Mall is pleased to announce the addition of a unique auction format to our growing marketplace site, complete with its own dedicated domain name: AtomicAuction.com
Established in 2008, Atomic Mall has emerged as a key player in the fixed price multi-seller marketplace arena, thanks in large part to our dedicated group of great sellers. With the addition of auctions, our sellers will be better able to establish accurate market values for their unique items, and to leverage the power of competitive bidding to increase conversions and profits.
Adding an auction format to our site involved a major rewrite of several key modules, as the site was not originally designed to include the concept of auctions as a buy option. With more members requesting auctions as an alternative to fixed price listings, it became clear that an upgrade would be necessary and would ultimately benefit both our buyer and seller bases - especially in cases where desirable specialty items may not have otherwise found a suitable mode of sale. We are extremely interested in securing quality merchants who favor the auction atmosphere, and the unique collectible items they offer.
With the finalization of the long-awaited auction upgrade, "Atomic Mall 2.0" is now officially live, completing a
site renovation spanning more than 18 months and involving over a dozen major updates. Atomic Mall currently has over 68,000 members offering 11+ million items across the site, with a listing count of around 287,000+.
About the "Atomic Auction" format
There are three main features which set Atomic Auctions apart from conventional auction formats:
- Atomic Auctions don't end at a preset date or time. Instead, they end after a specific number of bids have been placed, as determined by each seller. Auctions are offered which end after 2 bids, 5 bids or 10 bids, with both Reserve and No-Reserve options available.
- Our unique auction format is a form of sealed bid auction. Under this system the bidders, high bid, and bidding history remain a secret until the auction ends. Bidders enter the maximum amount they are willing to pay for an item, and if their bid is highest at auction close, they win. Bid amounts are visible only to their respective bidders until the auction closes, at which point all bids are revealed.
- At auction close, the winning bidder is notified first, and given a link to complete the sale at the winning bid price. The format is fast-paced, so if the winner does not complete the transaction within 24 hours, each successive lower bidder is then notified at 8-hour intervals with a link to make the purchase at the same price. This process continues until one of the bidders completes the purchase, with only the winning bidder being obligated to do so. Winners must pay quickly or risk losing to an underbidder!
As of the January 1st launch, only a limited number of select items will be offered in the Atomic Auction format. During this test phase, any operational problems within the system will be addressed, and users will not be able to create or otherwise edit their auctions. After it becomes clear that the system is robust, the "beta" stage will be over and auctions will be released sitewide to all sellers.
To see our current active auctions, go to: http://www.atomicauction.com and place your bids!