/CNW/ – Hodgins Auctioneers Inc. (HA-TSX.V) (Hodgins or the Company) is pleased to report progress on development of its new technology for mobile wireless bidding.
Hodgins directors, employees, and selected outside individuals, are now alpha testing the new bidding platform for mobile wireless users.
Our software contractor, Idlution.com of Saskatoon, SK, has made significant progress on this project. All research and development on the system has been completed. System and code development are near completion.
This new bidding platform has been designed specifically for initial use in the wholesale or dealer to dealer automobile sector, but could be easily adapted to accommodate other sectors.
According to statistics from the National Auctioneers Association, the auto auction sector is the single largest dollar volume sector in the industry. The five year average for the sale of automobiles by auction in North America exceeds $83 billion per year.
Our management team is excited about the potential of this new bidding platform and eager to release a full working version to the marketplace, said Barrie Jung, President of Hodgins.
Fully functioning Beta release and rollout of this product is expected to begin in early 2010. The Company further anticipates revenues from the new initiative to begin in the second quarter of 2010.
About Hodgins Auctioneers Inc
Headquartered in Melfort, Saskatchewan for more than fifty years, Hodgins is a provider of professional auction services. Hodgins is renowned for its experienced auctioneers, award-winning promotions, dependable results and commitment to providing the ultimate marketplace for the sale of assets by auction.