LOS ANGELES - July 31, 2002 -- Auctionblocks.net has officially changed its name to Auction Fire today. The new domain name is Auctionfire.com [AUCTION FIRE DOT COM]. A new logo has been unveiled as well: a blazing auction gavel.

"We are very pleased to have acquired such a high-quality domain name this late in the game," admits CEO Aaron Bradley. "My eyes nearly popped out of my head when I saw that Auctionfire Dot Com was available for registration. We aquired the name for less than nine dollars!"

Bradley feels that a short, high-quality domain is critical to a successful online presence. "I received numerous complaints that our Auctionblocks Dot Net domain was very difficult to remember and almost impossible to convey to someone else in conversation. The fact that it was a plural and a dot net made it very awkward to spell and pronounce. Auction Fire is easy-to-remember and the fact that it is a dot com is a tremendous upgrade from our old name."

The new name along with the new logo has Bradley dreaming of becoming one of the elite internet auction sites very soon. "We already have more user activity than some of our competitors. We have a ways to go but by years' end I am confident we will be a leader in the online auction industry." Bold words for a website that only claims 1738 registered members but Bradley has reason to be optimistic. "This past month or so we've seen a significant increase in registrations and user activity. We are averaging approximately 25 new registrations per day and we recently exceeded the 1000 auction plateau for the first time since nearly a year ago when we were a sports-only niche auction site. Also, I do not pad the stats like some other auction sites. I won't mention any names, but some of these sites are clearly exaggerating their statistical success when in fact the bulk of the listings consist of just a few users who probably work for the site. All of our users are genuine and none of the sellers are affiliated with our company."

Along with the new name and logo, Bradley is planning a new marketing campaign as well. "We are in the process of making a radio ad. A local L.A. band has agreed to record a jingle which I wrote and in the beginning we will attempt to get it aired on small to medium radio stations nationwide and later we can go for major markets as the budget allows." Speaking of budget, does Bradley still believe a free auction community is feasible? "Yes, it is feasible -- although extremely difficult to manage because it does take deep pockets to advertise on a consistent basis. Without constant advertising it is very easy for a website community to become stagnant."

To increase revenue, Auction Fire will be implementing a 2.5% commission for all successful auctions exceeding $20.00. Additionally they will sell more targeted advertising space and offer a VIP subscription to sellers whereby they can receive more services and ad exposure for a small monthly or annual fee. "I am resolute to keep our site free and also to keep the advertising tasteful and low-key, but at the same time it takes money to get the word out so we will do what we have to do to bring in revenue without compromising our principles. For instance, we will never use pop-up advertising no matter how much money can be gained by it. I simply detest going to sites that have pop-up banners and I am sure our members would agree with me."

To contact CEO Aaron Bradley or to join the Auction Fire community log on to http://auctionfire.com/