UK retailer Comet plans to launch an auction Web site to flog its old or damaged goods.

The site, due to kick off on July 23, will be used to shift ex-display or imperfect products. This includes computer kit as well as brown and white goods.

Bids will start at £1 per item, and the Kingfisher-owned company hopes to net an average of £200 per product sold.

"Comet recognised the power of auctions and is the first UK retailer to bring clearance auctions to UK shoppers," said e-comet VP Simon Rigby.

It is hoped the clearance-comet.co.uk site, which will offer 50 auctions per week, will pull in annual sales of around £50,000. ®