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Startup Offers a Fresh Take on Online Auctions

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This story appears in the February 2013 issue of Entrepreneur. Subscribe »
Auction action: Yumani's Henry Zilberman (right) and Michael O'Hara.
Auction action: Yumani's Henry Zilberman (right) and Michael O'Hara.
Photography by Tim Soter

What It Is
With Yumani's fresh take on online auctions, registered users can either search the site's online catalog or post items they wish to buy, such as electronics or home goods. Participating retailers then compete for the sale by bidding down the price. For an even better deal, multiple buyers looking for the same product--say, a 50-inch Sony LED HDTV--can form purchasing blocs through the "Yunite" feature and score a group discount.

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