GimmeaBid.com, Inc. has announced the official launch of its D2D (dealer to dealer) auto auction platform: DealersAutoAuction.com.

The company says it has used the power of the Internet to create a real-time wholesale auction of used vehicles between auto dealerships, both independent and franchised. According to company officials, this creates significant value for auto dealers by aggregating buyers and sellers, creating marketplace liquidity, and driving down transaction costs.

"Buyers will literally have the nation's used vehicle inventory at their fingertips, giving them more choices, lower inventory requirements, and driving down acquisition costs both in terms of time and money," said Michael Wood, president of Gimmeabid.com Inc. "Sellers will benefit through the significant increase in liquidity by having access to a larger pool of buyers than has ever been available through traditional methods."

Until now, auto dealers have both bought and sold vehicles through regional auctions scattered across the U.S. The process of procurement through traditional brick and mortar auctions is both time consuming, expensive, and frequently requires dealers to travel for extended periods of time, according to Wood.

"With the launch of GimmeaBid.com's portal, for the first time ever, multiple buyers and sellers across the U. S. will be able to simultaneously interact and transact sales of virtually any type of vehicle on a more cost-effective and productive basis," Wood said. "It is a timely adaptation of Internet-enabled technology to the existing national auto dealership market."

To address the condition of the vehicles being offered for sale, the company has adopted the same light rating system that dealers have used for decades. The portal is also interactive, allowing dealers to ask sellers questions and respond, according to Wood.

In a unique partnership, GimmeaBid and First Assured Warranty Corporation have integrated their technology to provide auto dealers with a special short-term warranty program. This program provides dealers with the ability to purchase 5-, 10-, 15-, and 30-day warranty protection on the vehicles offered for sale through the GimmeaBid platform. These warranties can be offered with the sale of vehicles in order to provide protection for any prospective buyer. Buyers will also have the ability to purchase these warranties to protect themselves. These warranties provide coverage from power train to power train plus air conditioning and electrical, subject to age and mileage restrictions.

GimmeaBid.com has a pricing structure that does not charge any listing fees or buyer fees. It is completely free to bid, browse, and even buy, according to Wood. "We did not want to charge our dealers if we could not successfully match them with a buyer," Wood said. "We felt that only a performance-based auction was fair to our dealers. We charge the seller a maximum of $275 only if their vehicle is sold, regardless of the final selling price."

For more information, visit www.dealersautoauction.com or www.GimmeaBid.com.