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New MyBuyBlog Service Revealed on Oltiby.com Online Auctions Marketplace - November 5th, 2006

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Online Reverse Auctions - April 27th, 2006 (download as PDF)

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New MyBuyBlog Service Revealed on Oltiby.com Online Auctions Marketplace

FOR IMMEDIATE RELEASE

Jupiter, FL - November 5th 2006 -- Oltiby Inc introduced last year the first complete reverse auctions platform allowing user to benefit from savings using online auctions in reverse. Today, Oltiby.com launches a new service dedicated to buyers: MyBuyBlog.

This reverse auctions site has an innovative technology that will change our lives. It introduces the new perception on how we purchase things. MyBuyBlog purchasing method is the first of its kind known to the world that allows the buyers to have their own private store for all of their buying desires and needs.

"This new way of blogging is fun, very useful and can save buyers lots of money. With MyBuyBlog buyers can talk and list the items they want to buy just as they would talk and make purchases in everyday life" said Oltiby Inc. VP, Sylvain REITER. "Using the reverse online auctions process, sellers will bid against each other and buyers will be able to save as much as 40% or more on their purchases."

The online auctions' model is simple: Buyers post what they want to buy; sellers compete by posting their bids and reducing their prices to win the auction. Buyers are responsible for a small fee based on the value of the lowest bid (2.75 to 5.25 percent), or they don't pay anything if no bids are submitted.

"We are offering this service for free to all registered members of oltiby.com. Buyers are able to create and access their MyBuyBlog with a unique URL such as YOURusername.oltiby.com" Reiter explained. "Buyers can then use this custom URL and create personalized shopping list in every single category they can think of!"

The system also allows the owner of the MyBuyBlog to have complete control over his space. He can select and invite who is allowed to bid in his MyBuyBlog Buying Space. The user can personalize his homepage with logo and custom text. Buyer also determines what categories will appear on his MyBuyBlog and is able to organize his buying wishes.

This tool is also suitable for small-businesses who have procurement department with a list of suppliers. "MyBuyBlog is the new online auction software" Reiter said. "companies will post their project on their own dedicated space and will invite their suppliers to bid". The system allows procurement manager to easily organize suppliers' information and decide of the winning bid on every listing.

This feature is not intended to undermine sellers. Registering with Oltiby.com, sellers are able to search for specific keyword and find new leads of buyer's listing, buyers who are expressly ready to buy the item. Once reaching the MyBuyBlog of the buyer, they will be able to "Request an Invitation" from the buyer who will allow them to bid on the listings and send their offer.

Oltiby's MyBuyBlog feature represents an exceptional value to reverse online auctions participants. For more information about this service, visit www.oltiby.com

 

 

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