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A new tool for pricing online advertising has been launched.

AdsBay.co.uk’s new tool allows webmasters to determine fair pricing for free space on their site, while helping advertisers to assess different offers from different sites. The site claims to offer improvements over other services, such as in pricing result precision and the number of determining factors in the ad price.

Factors include information of the site gathered from Yahoo!, Google, Alexa, AllTheWeb and AltaVista, the site’s target market, the use of static or dynamic links, whether the advertisement will be text based or graphical, and the placement of the ad on the target page.

The placement of the ad space and whether the ad will be shown site wide or on a single page are also considered.

"In addition to the large number of pricing factors, AdsBay aims to set their ad pricing tool apart as the most dynamic pricing tool on the market, by having calculations set to two decimal points, rather than simply rounding to preset whole dollar amounts," the site said.

Clients can also link to AdsBay’s calculator from their own ad sales pages, to provide a verification to advertisers that they have received a fair price according to online advertising factors.