ThePerformanceDepot.com Announces Reverse Auction-Group Buy Technology for Aftermarket Auto Parts

/24-7PressRelease.com/ - January 31, 2005 - Announcing the webs first REVERSE AUCTION/GROUP BUY SYSTEM for the automotive aftermarket parts industry where SELLERS bid for a group of buyers. An exciting and unique way that enables both buyers and sellers to achieve what they really want. For the buyer, the ability to purchase his product along with a group of buyers needing that same auto part - "group buying power". For the seller, the ability to sell more product by winning the bid and supplying the entire group with the auto parts they requested.

The inspiration for "reverse auction-group buys" came from both buyers and sellers complaining about the poor quality of existing online auction services, recalled Justin McFadden, The Performance Depot Co-Founder and President. "While visiting auto related forums, page after page I would read about buyers being ripped off, or thinking they got a great deal only to find out that shipping costs were more than the part itself," McFadden said. "And sellers complaining about deadbeat bidders; or people joining group buys only to find out that the person who sponsored the group buy can no longer get the parts. McFadden, an automotive enthusiasts himself, decided to use his technology to help shape the aftermarket auto parts industry.

The idea that there could be a better way to manage the buying and selling process of performance auto parts caught the attention of Justin McFadden. McFadden envisioned a marketplace comprised of authorized licensed distributors, innovative technologies designed to make the shopping experience fun as well as memorable, and a fraud deterrent system that manages each transaction to help prevent fraud - Voila! An online reverse auction portal coupled with group-buying technology that enables buyers to join other buyer"s auctions. By teaming together the buyers will receive competitive pricing on performance parts from hand picked, licensed auto parts retailers.

Unlike other online auctions that discipline buyers and sellers based on user feedback, The Performance Depot utilizes an internal electronic scoring system that will track buyer and seller transaction activity. "To easily understand how our scoring system works, consider this; People will tell stories and lie, computers tell facts", said Justin McFadden.

The Performance Depot plans to expand its product categories beyond auto parts, (software, electronics etc.) but for now says Justin McFadden, "One problem at a time". For more information and to receive a media kit send email or feel free to call Mr. Justin McFadden, available for immediate interview.

Interview Contact: Mr. Justin McFadden
Infotheperformancedepot.com
617-562-0055 (Monday - Friday 8:00 a.m. - 4:30 p.m. EST) http://www.theperformancedepot.com/auction/index.php />

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