Going once … going twice … sold! To the buyer with the fastest mouse.

Gofish.com, the first and largest online seafood exchange, announced today that it will begin live auctions on its site. Gofish will offer both seller and buyer auctions 24 hours a day to complement its existing seafood exchange.

Gofish is a neutral trading platform that allows fishermen, restaurateurs and grocers, as well as importers, processors and distributors, to log onto the site to buy and sell seafood. The service is available worldwide, 24 hours a day, seven days a week. Using the current trading exchange, sellers can post seafood for sale and receive bids from anonymous buyers to complete individual transactions.

With the new auction technology, sellers now have the option to post inventory for sale in an auction, which can last anywhere from 60 minutes to seven days. When the auction closes, all bidders will be able to see the total number of bids and the highest bidder. There will also be buyer auctions, where buyers can state what product they are looking to purchase and then field offers from interested sellers.

“Adding cyber auctions to the Gofish site gives our subscribers another tool to efficiently move product,” says Gofish founder and president Neal Workman. “If a seller is long on product and needs to find buyers quickly, they can put it on the auction at a price that will move it in the fastest manner possible.”

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To use the auction, subscribers simply click on the seafood exchange icon from the Gofish homepage and then click on the auctions tab. This will take them to the auction home page, where they will be guided through the process. Auctions can be planned up to 30 days in advance.

“This is just the latest in a long series of serious business tools by which Gofish is adding value to the seafood industry. Now subscribers can auction products in an easy, timely and secure manner, as well as buy and sell seafood through individual transactions on our exchange,” said Tim Brooks, VP Product Development.

About Gofish.com

Gofish.com, headquartered in Portland, Maine, is the premier content and commerce destination for the seafood industry. Gofish provides a secure forum for transactions and features up-to-the-minute news from industry-leading SeaFood Business. The site also uses Seafax to provide the industry’s best proprietary credit information on trading partners, allowing buyers and sellers to make more informed business decisions. Gofish offers a collection guarantee and auctions. Gofish will add receivables funding by May 2000. In addition, Gofish expects to incorporate logistics support services to the site by summer 2000. For more information on Gofish, please visit www.gofish.com or call 800/777-3533. Gofish is a privately held corporation with offices in Portland, Maine, and Bellevue, Wash.