7dollarbid.com announces new concept in online auctions. Consumers can not sell or list their products here. There are only a limited number of bids accepted for each auction, and the products are brand new, name brand items, still in the original, sealed box, offered for 82-93% below retail.

Instead of following the normal style auctions thats already on the web, 7dollarbid.com has launched a web site that is different. This site features a blind auction for brand new products at 82-93% off retail prices. Only a certain number of bids are accepted for each auction before it is closed. Then highest unique bidder gets to purchase the item for their bid amount. This bid can never be higher than the listed "maximum" price, which is 82-93% off retail price.

Here is a sampling of the brand new, brand name products on auction right now: An XBOX for less than $12, an Apple iPOD 20GB for less than $20 and a 7" Portable DVD Player for less than $19. See http://www.7dollarbid.com for the current list of products and a preview of upcoming auction too.

Internet research shows that it is predicted by 2007 Internet auction sales will account for 25% of total online retail sales in the US. This would be an increase from $13 billion in 2002 to $54 billion in 2007.