An exciting and unique online auction was announced today, giving buyers more negotiating leverage and providing sellers with the security other proprietary services lack.

ThePerformanceDepot will help revolutionize the way auto parts are bought and sold. The online auction house groups together buyers who are searching for the same auto parts. In return, the buyers reap savings because they make their purchases in bulk. The system allows sellers to unload more of their inventory, promising a greater return on investment than would be expected at live or other online auctions, such as e-Bay.

The service answers long-held complaints from both buyers and sellers who have been unsatisfied with the poor quality of existing online auction services, said Justin McFadden, founder and president of ThePerformanceDepot.

McFadden created the company, which specializes in “reverse auction-group buys,” after reading stories of buyers who felt they’d been ripped off and sellers who complained they couldn’t trust buyers logging into the anonymous world of online auctions.

"Being a car enthusiast, I know how important it is to get the right parts for the right price,” said McFadden. “I wanted to create an auto parts portal that helped buyers and sellers connect and conduct business with confidence.”

He formed a marketplace that merges licensed distributors and innovative technologies to make shopping fun, memorable and affordable. He also created a fraud deterrent system, which manages each transaction from start to finish.

Launched in January 2005, ThePerformanceDepot joined with several hand-picked distributors, including industry leader Abtivan Concepts of Pomona, CA, to ensure lower prices and quick deliveries.

Unlike other online auction houses and marketplaces, sellers don’t pay upfront costs, such as pay-per-click, insertion, listing or reserve fees associated with other services. They only pay when they’ve made a sale. Buyers and sellers can access the website at: http://www.theperformancedepot.com/auction/index.php.