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Auction to boost Team NZ funds

Team New Zealand hopes to raise at least $280,000 from the auction

AUCKLAND, New Zealand -- Team New Zealand is hoping to boost its America's Cup defence fund by holding the largest Internet auction ever in New Zealand.

Organisers hope to acquire at least 2,000 items with a minimum value of $NZ300 ($US140) for the auction, hosted by Trademe.co.nz.

The team is confident it can raise at least $280,00 for the defence, which begins in February, 2003.

Team New Zealand's Ross Blackman said the auction is timed to coincide with the start of the Louis Vuitton challenger series in October.

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The "Great Team New Zealand Auction" will go live from September 12 to October 18, culminating in a gala fundraising dinner and live auction, with items priced from $2300, in Auckland.

"By that stage we anticipate people will be getting really excited about the America's Cup again and it's a good time to be raising money for Team New Zealand," said sponsor Jeff Davidson said on the team's official web site.

Several items have already been pledged, including a car and a U.S. holiday with return airfares from New Zealand.

There is virtually no limit to the items that can be donated -- retail products, restaurant meals, accommodation and collectibles along with services such as lawyers, accountants or dentists are all suitable, the team said.

The New Zealand-owned Trade Me is New Zealand's largest on-line auction house. It has run over 1.5 million auctions in 3-1/2 years of operation.