Suited and booted London journalists today clamoured to get the first look at Eckhard Pfeiffer’s latest business launch. The former head of Compaq has put his name to a German-based online auction house that will sell everything from brand new PCs to second-hand cars in the UK. Goricardo.co.uk was unveiled this morning along to the dance remix song "Praise You", with the IT industry’s very own Fat Boy Slim describing its merits. "ricardo.de, already widely recognised as a major player not only within the online auction market, but also within the e-commerce area, is renowned for bringing new and innovative ideas as well as setting the pace for others to follow," said Pfeiffer. "We are confident that goricardo.co.uk, which is specifically focused on the UK market, will mirror this success." The company - which has so far only operated in Germany - claims to have one million page impressions per day, 400,000 members and 80 per cent brand recognition in Germany. It plans to expand into the Netherlands, France, Italy, Scandinavia, Asia and the US, and says it will take a local approach to market. "British people prefer to trade with other British people," said founder and chief marketing officer Stefan Wiskemann. "We want to be a European company, with a global view towards Asia and the US." According to Wiskemann, the site aims to grab trade from smaller retailers – it has already signed up more than 1,000 British companies - as well as individuals trying to flog the contents of their attic. The site will sell new PCs as well as second-hand mobile phones (cough) and CDs. As a launch gimmick, it will also be taking bidding for an island in the Pacific, and promises "diverse and interesting" items. To begin with, it will be free to sell products on the site. Once the company is established it will take a commission on successful sales. It also plans to introduce live auctions with an online commentator in April. Big Eck, whose frequent change of hair style caused his old firm of Compaq to be called The Great Satan of Haircuts, had a new haircut to match his conservative business suit, despite the fact that all the other trendy young employees of the company seemed not to follow his lead... ® See also Roller coaster for sale today Banks.com auction kicks off with £600K bid