S.W, Asia4Sale Announces First Public Auction...
SOLANA BEACH, Calif., July 19 /PRNewswire/ -- ZiaSun Technologies (OTC Bulletin Board: ZSUN - news; www.ziasun.com ), today announced that its wholly-owned subsidiary Asia4Sale ( www.asia4sale.com ) has entered into a strategic partnership with Auctioneers International Asia (AIA), an industrial auction house based in the Philippines. The group's first public auction, encompassing a wide selection of products, ranging from forklifts to excavators, is set for September 10, 1999 at 8am.
The joint venture brings together Philippine, American, and Japanese interests in a commercial hub of the Asia-Pacific Region, Subic Freeport, where AIA has taken over the expansive facilities of auction giant Ritchie Bros. Auctioneers Inc.
Brian Hodgson, Managing Director of Asia4Sale, commented on the auction, ''We are extremely encouraged by the initial indication of interest in our first auction. We believe that on-line participation in commercial auctions in the regional will find an increasing level of utilization and that Web auctioneers like Asia4Sale will play a pivotal role in bringing these auctions to a global audience on-line.'' Hodgdon added, ''Current trends highlight the fact that big ticket items are becoming the key to success for on-line auctions, as demonstrated by the recent partnership between Amazon.com and Sotheby's. We believe that a successful on-line auction of high ticket items requires a well developed physical presence like that of our partner, AIA.''
Asia4Sale will be accepting absentee bids on-line through its industrial auction website, AuctionAsia ( www.auctionasia.net ). Registered users of its website can receive bidding information and place bids over the Internet. The auction is expected to generate between $5 million and $8 million in gross sales proceeds. AuctionAsia anticipates managing the on-line registration and bidding activities for several additional AIA auctions in the next 12 months in Japan, Korea, Hong Kong and other Asian locations. Asia4Sale is a three- part e-commerce site that combines on-line auctions with business barter ( www.barterasia.net ) and on-line shopping ( www.shoppingasia.net ).
ZiaSun Technologies Inc. is a leading Internet holding company focused on e-commerce and specialized Internet support services within Asia and other international markets. ZiaSun's primary operating subsidiaries are Momentum Internet ( www.momentumplus.com ) which encompasses Swiftrade ( www.swiftrade.com ), Asia4Sale ( www.asia4sale.com ), PINmail ( www.pinmail.com ), MediaHits ( www.mediahits.com ), Search Dragon ( www.searchdragon.com); Momentum Asia ( www.momentumasia.com ) including ServiceLive ( www.servicelive.com ); and Online Investors Advantage ( www.i-advantage.com ).
Note: Any statements released by ZiaSun Technologies Inc. that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements.
SOURCE: ZiaSun Technologies
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