CGU launches UK auction site

Article date: 13 December 1999

A new internet auction site, bluecycle.com, is opening up asecret world of high quality goods at bargain prices. A huge rangeof items, previously accessible only to a small number of people inthe know, will soon be available to UK internet shoppersnationwide, bidding from their own homes.

bluecycle.com is offering bargain huntersunique access to a wide variety of end of line retail goods andspecialist collectors items, plus goods recovered by organisationssuch as insurance companies and police forces. Few people haveknown about these bargains, let alone how, when or where to bid forthem. Now, anyone with access to the Internet can see exactly whatis on offer, make a bid and, if they are successful, have theirpurchase delivered to their door.

bluecycle.com is wholly owned by CGU, one ofthe UK's leading insurance companies. In addition to placing itsown salvage items on the site, CGU's involvement will enablebluecycle.com to provide buyers and sellers withreal security and a hassle free shopping experience in this virtualwarehouse. Safe payment and secure delivery are uniquely assured,by CGU, for all goods sold on the site.

The business launched on Sunday, 12 December forpre-registration, going 'live' to the first 25,000 people toregister on January 18 2000, then to all customers by February7.

Notes to Editors

Many of the items on the site aretraditionally sold at auctions. Very few people know that theseauctions exist - and those who are in the know are making a killingbecause these goods are sold for a fraction of their real value,often to be sold on again to members of the public with a largemark up. These auctions are not always advertised, even when theyare they can be difficult to find and we know that many people findthe atmosphere intimidating. Goods are often sold in bulk or inother ways which discourage individual purchasers.

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