San Diego, CA -- (SBWIRE) -- 05/19/2009 -- Since the launch of the site in late April, iBidcondo.com has seen a tremendous response from all avenues – industry professionals thrilled with a new avenue of buying and selling, charities eager to benefit from that winning bid, and consumers ready to win their dream home for a potentially bargain price. Now the date has been set and it’s time to countdown. Don’t miss the opportunity to be a part of this historic event on May 26th, 2009 at 8pm central when iBidcondo auctions the very first property, a stunning residence at the luxurious Star Riverside in Downtown Austin, Texas.

iBidcondo’s innovative selling system follows the process of a tradition property auction with the exception that there is no minimum or reserve price. Unlike many other online auctions, iBidcondo does not charge bidders for each bid. To cover the retail price of the property being auctioned, iBidcondo sells a limited number of virtual auction seats at an average of $100 per seat. With the need for a minimum price now removed, it is left to the bidders to determine the auction price of the property. This innovative process also permits the net proceeds (estimated around 80%)to be donated to a registered charity of the highest bidder’s choice.

To purchase a seat and nominate a charity go to http://www.ibidcondo.com.

iBidcondo’s first auction has prompted a global response from countries including Australia, Brazil, Canada, India, Italy, Portugal, the United Kingdom, and the United States. With the ease of internet access, anyone from around the world can participate in this exciting live online auction. iBidcondo has also amassed a great following and legion of fans on popular online social networking communities including Facebook, Twitter and Flickr.

Founder of iBidcondo, Eugene Marchese has seen an immense response from the property virgin market. “iBidcondo is presenting a major opportunity to those consumers who are just starting out in the real estate market” Eugene explains. “With a chance to bid on a home that they would normally need to save for years to afford, young professionals and newlyweds are jumping at the chance to bid on their dream home for what we believe will be a bargain price.”

The lucky winner will be able to claim Austin, Texas as their home. With the motto of “Keep Austin Weird” this eclectic town is full of nonstop fun. Culinary adventures await discovery in the hometown of Whole Foods headquarters, classic Texas barbeque at County Line BBQ, fine dining at Jeffrey’s, or the ultimate Tex-Mex at Vivo. Music revelations are a daily occurrence in the “Live Music Capital of the World” with over 200 live music venues through t he Red River, Sixth Street, East and South Austin, Market and Warehouse Districts. Austin is home to various festivals and other musical attractions including South by Southwest which showcases the best in indie film and music from around the world. Shops, Spas and a thriving tourism industry keep this city thriving.

For more information on iBidcondo and Star Riverside, visit http://www.ibidcondo.com. Don’t forget to purchase your seat now for a chance to win your dream home.

About iBidcondo:
A revolutionary new way to purchase property online, iBidcondo is the first registered website to host live, online auctions where luxury properties are sold with no minimum or reserve price and the net proceeds are donated to a registered charity of the winner’s choice. Founded by Australian native; Eugene Marchese, iBidcondo will use the sale of the virtual seats to the online auction to cover the actual “cost” of the property, leaving the “auction price” as proceeds for donation to a worthy charity. In order to bid, participants must have purchased a virtual seat to the online auction at an average price of $100. The first properties to be sold on iBidcondo will be units from Star Riverside in Austin, Texas, luxury residences designed by award-winning architects, Marchese + Partners, International. iBidcondo has discovered a way to offer buyers and sellers a win/win situation and give back to the community all while creating an avenue to instill some much needed movement within the real estate market. To learn more visit http://www.ibidcondo.com .

Contact:
Megan Palmer, AMG PRWorks
megan@amgwagency.com
305.856.8004 x304