Press Release: gBay brings auctions to Second Life

FOR IMMEDIATE RELEASE:
gBay is now open at the Givenchi Garment District in Second Life. Residents can take advantage of gBay's exclusive gBox technology to securely auction unused inventory items to the highest bidder.
gBay owners, gBay Destiny, Steve Crowley, and GiveMeABig Oh believe that simple auctions for Second Life residents was a missing part of the Second Life economy. They hope this will allow residents to "clean out their closets" and earn some Lindens along the way.
"For the buyer, its an opportunity to find a designer outfit or some other expensive item for less. Remember, used items in Second Life are as good as new. Things don't wear out," explains gBay Destiny.
gBay's system will not allow residents to resell items unless the resident has transfer permissions on the item. "There are many items that you can not auction because you don't have permissions to transfer the asset to another avatar. We do no want to encourage or facilitate theft," explains Steve Crowley, gBay's chief programmer and owner of Sigma Chi Products.
Similar to other online auction systems, gBay charges a nominal listing fee and takes a commission on the final auction price. Bidders pay at the time of bidding, and are refunded their bids automatically when outbid by another resident eliminating the need for the seller to chase down buyers for payment. When an auction ends, the auction item is automatically delivered to the winning bidder, and payment is sent to the seller.
"We're very excited to bring this type of transaction to Second Life," notes GiveMeABig Oh who is also the owner of Bodies by Oh! To learn more, visit gBay on Givenchi.