Former Netgear country manager and director of online IT products supplier Expressnet, James Caldwell, has established a new web-based IT auction site called Dealfoundry. Consumers and small business can use the site to buy and sell new and used products, while IT dealers can hold private auctions with deals for particular customers, says Caldwell. He says he is also in discussions with larger IT manufacturers and distributors about using the site. Such companies could use private auctions to shift slow moving stock to dealers, he says. "It's something I've thought about and tried to see who is doing something similar, but I haven't seen it used in this manner. That either means it's a really good idea or a really bad idea," he quips. Caldwell is utilising existing supplier relationships formed through ExpressNet. Dealfoundry employs the Dutch Auction method, traditionally used in the flower and finance industries, whereby prices fall as the auction progresses, and finishes when the reserve is met or there are no more items to bid on. Dealfoundry users are charged a one-off fee per auction, and items can be re-listed free. Caldwell says the site will begin by serving the IT sector, but could extend to other industries which have a manufacturing, distribution and retail supply chain. The site has been set up to be able to cater for multiple currencies and time zones, he says.