A new online auction service was launched on Wednesday by a company backed by Groupe Arnault, the investment vehicle set up by French business magnate Bernard Arnault.

The auction service, Aucland.com, will charge 10p to list an item for auction and take a commission on the sale. Charging to list goods was part of the group's attempt to change the psychology of online auctions, Fabrice Grinda, the chief executive, said.

A small fee would ensure people were genuine in their intentions, only listing items they would actually sell, and improving the quality of goods on offer. Mr Grinda hopes to exploit the fact that there is no dominant cyberauction operation in Europe.