Yahoo to shutter Australian auction site

Yahoo will close its Australia-focused online auction business, Sold.com.au, on Aug. 20, in a move that will leave the market solely to dominant player eBay.

Yahoo announced the closure on the Sold.com.au page.

"We would like to thank you for using Sold.com.au and we hope you have enjoyed the experience," the announcement read. "We recommend that in the future, our customers try out the great service offered by eBay, our preferred auction service."

According to a statement, no jobs will be lost as a result of the closing: "All of Sold.com.au's staff and resources will be redeployed toward key growth areas in the company."

Yahoo Australia & NZ bought Sold.com.au from Australia-based F2, the Fairfax Interactive Network, for $15.63 million (AU$24 million) in early 2001, but the business failed to make an effect in the massive online-auctions market.

Sold.com.au's demise may give Yahoo's revenue a lift though--eBay has just signed an advertising deal with the dot-com giant for an undisclosed amount.

The auction site's end comes less than a week after the demise of the Monster.com.au jobs Web site, which was losing around $3.91 million per year before the plug was pulled.

A Nielsen/NetRatings report for June showed the number of unique visitors to Sold.com.au remained stagnant at around the 240,000 mark, while eBay numbers managed to grow to 1.3 million.

ZDNet Australia staff reported from Sydney.