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MoneyMax launches live e-auction site

MoneyMax Financial Services - together with Japan-based Internet auction company Aucnet - has launched an online live B2B auction platform for luxury goods, SG e-Auction, to cater to the Asean market.

According to MoneyMax, it is the first of its kind platform in Singapore for the sale of luxury branded merchandise, gold and diamond goods, allowing buyers and sellers to conduct cross-border trades. SG e-Auction also provides inspection and evaluation services to assure consumers of the quality and authenticity of the products.

Lim Yong Guan, chief executive of MoneyMax, said: "We are excited about the new opportunities brought by the launch of this new online platform. Specifically, this distribution channel allows us to tap into the growing market of pre-owned luxury goods in South-east Asia on the back of a rising middle-income class. I'm happy to share that currently we have members from Singapore, Malaysia, Vietnam, Hong Kong, Japan and the US."

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