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The founders of MightyBids.com are calling it quits and are selling their online-auction site on eBay. Peter Michaud and Jeff Ramaglia launched the site 4 years ago in response to rising fees on eBay.
According to Thursday's press release, "After four years of proving there can be a successful alternative to the status quo, the founders of MightyBids.com today announced that their much-praised company is itself to be auctioned off to the highest bidder."
Ramaglia stated, "Firstly, we had the satisfaction of knowing we accomplished what we set out to do. We developed a stable, successful online auction service that let buyers and sellers escape the fees and annoyances of the other place. Second, we realised that was all we'd set out to do."
Bidding in the ten-day auction for MightyBids.com will begin at $1.00, though Michaud stated he hoped the final bid would be considerably higher: "Let's face it," Michaud said, "After eBay's insertion fees, upgrade fees, reserve fees and final value fees, there might not be much left for us."
The eBay auction number is 190125355775. When asked, "Should users be worried about their information stored on your system - what vetting will you do of the buyer?" Michaud said, "All info is safe and secure, this is not something we are worried about."
