Tejari.com auctions hit $17.1 million

Members of Tejari.com, the region’s premier business-to-business marketplace, awarded more than $17.1 million in online auctions from June through August 2001.

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By  Vijaya George Published  September 26, 2001

After a brief silence during which Tejari.com has been quietly wooing clients to its web site, the region’s premier B2B marketplace has announced that that it has awarded more than $17.41 million in online auctions during the summer season. A majority of the 130 auctions and tenders were initiated by departments of the Dubai government.

“The surge in auctions taking place on Tejari over the summer months provides proof that, not only does important business take place in the Middle East from June through August, but a growing segment of that business is being done through the Internet,” commented Lubna Al Qasimi, Managing Director of Tejari.com.

The summertime auctions enabled Tejari members from the private sector to bid online to provide IT and networking equipment, automotive supplies, office furniture, pharmaceutical brands, and a host of other products and services. Tejari’s management anticipates that the auction trend will continue, with more tenders slated to take place throughout September.

In recent months, several Dubai government departments have actively participated in online auctions at the marketplace. The Dubai Department of Health, the Department of Awqaf and Islamic Affairs, and the Dubai Workshop alone have accounted for more than 80 auctions on Tejari in the last 90 days.

From 22 auctions with a transaction value of $2 million in June, Tejari members initiated 42 new auctions in July, at a total value of $5.7 million. In August, traditionally one of the slowest business months in the Middle East, Tejari members created 67 auctions for a value of $9.1 million, more than tripling the number of auctions initiated since June.

One of the primary factors contributing to the surge in auction activity on Tejari is the intensive training process that the marketplace has provided its members. Government departments in Dubai have undergone hands-on training from Tejari’s customer service team to maximise their understanding of Tejari’s features and functionality.

The company has also announced an awards programme for Gitex 2001, during which it will award public sector members for several auctions, highest auction value, most direct online catalogue purchases, and recognition of departmental commitment to the exchange.

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