California–based B2B retail marketplace GlobalNetXchange (GNX) has announced that its members conducted over 1550 auctions worth over US$850m in the Q2 ending 30 June – triple the number of auctions in Q2 2001. 

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Since inception, members of GNX have conducted over 5500 auctions valued at more than US$4.1bn. GNX also reports that goods-for-resale auctions continue to account for more than 70% of all online negotiation activity. 


In the Q2, the company also released GNX Negotiations version 6.2.2, an upgrade to the auction tool that includes Chinese language functionality and other value-added features designed to enhance the GNX user experience. The introduction of the tool in Chinese brings the number of languages supported by GNX Member Services to eight.


“The continued strengthening of the GNX Negotiations tool and services enables our buyers and suppliers in Asia, Europe and Latin America to routinely enter into online negotiation in their native language and with a high level of reliability,” said Jeremy Hollows, director of B2B at Carrefour SA.


“GNX Negotiations usage continues to build momentum rapidly, with as many transactions in the H1 2002 as in the entire previous year,” said CEO Joe Laughlin: “We’re seeing our customers integrate their auction programmes beyond the core divisions in which they started, and into more high-end private label categories. We’ve also welcomed several new members, including Federated Department Stores, whose buyers have been among the most active users of the auction tool.”

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