Auction site serves the business-to-business and institutional sectors where purchase decisions can take long periods of time and involve large amounts
LabX has reduced auction listing fees in what it says is an ongoing effort to increase available products for online buyers.
General manager Ken Piech says: "With almost 100,000 listings on LabX, we are trying to break into six-figure listing counts.
"Since 1995 we've been growing steadily, and our key metrics continue to climb at impressive rates.
"We fully expect that the price reduction will result in increased listings and seller interest, thus increasing the available products for buyers to find".
Unlike some large auction sites, LabX exclusively serves the business-to-business and institutional sectors where purchase decisions can take long periods of time and involve large amounts.
To support the auctions, LabX also offers the LabVista platform which allows vendors to post current inventory for prospective buyers.
According to Piech, "More than half of LabX users are unable to purchase through a time-restricted auction format.
"Sellers find the LabVista lead service invaluable as an auction alternative.
"Combined with our lower auction fees, the value LabX delivers to buyers and sellers is better than ever".
LabX charges no commissions as all auction and classified ad fees are flat rates.
The cost of posting an ad is all that is paid when it sells.
The company says nearly 60% of all items posted in the LabX auctions sell.
Over the past few years LabX has expanded its niche marketplace to areas of pharmaceutical and medical equipment, electronic test equipment, and semiconductor products.
