J.C. Penney Co., Plano, Texas, is set to open an online auction area on its Web site, JCPenney.com this spring. Using auctioning technology from Woburn, Mass.-based FairMarket, the site will allow users to buy new merchandise through an automated auction. The site will kick off auctioning of overstocked merchandise from Penney's catalogs and retail stores. Penney's will join other e-commerce portals in the FairMarket network of auction sites, including Excite@Home, Lycos and Microsoft Corp.'s MSN.com portal.
Copyright January 2000, Crain Communications Inc.