Liquidity Services hosts online auctions for surplus merchandize, producing a payoff from goods already off the books
Washington, DC — February 3, 2005 — Asset recovery specialist Liquidity Services, Inc. (LSI) has generated a positive bottom-line impact through the remarketing of surplus merchandise for ShopNBC, the nation's third largest home shopping network, using online auctions, the service provider announced this week.
Recent auctions on LSI's online marketplace, www.liquidation.com, have generated a recovery rate 514 percent higher than expected by ShopNBC using its traditional disposition methods, according to the service provider.
Based on this success, Fanbuzz, a division of ShopNBC, now uses LSI as its sole resource to remarket and auction surplus sports memorabilia and clothing, including seconds, irregulars, damaged and out-of-date merchandise.
LSI's marketing initiatives to an existing base of 200,000 qualified buyers, as well as specific campaigns to attract new buyers, has produced an average of 28 bids per auction and much higher returns for Fanbuzz's surplus inventory versus traditional disposal methods, LSI said.
To generate the highest winning bid, inventory is grouped into auctions by major sports categories such as NHL, NCAA, ESPN, NFL and Salt Lake 2002 Olympics.
"LSI's marketing efforts have given me renewed confidence in rapidly selling our damaged and surplus inventory at higher recovery rates," said Cathi Resatar, licensing coordinator for Fanbuzz. "Our highest single auction to date generated a return of $4.43 per item on merchandise that was already off our books. After exploring other options, Liquidity Services, Inc has surpassed our expectations in recovering value on these items."
"This success for ShopNBC reinforces our expertise in remarketing surplus assets, even in niche product categories, through our online sales channels," said Bill Angrick, CEO of Liquidity Services, Inc.
LSI serves Fortune 500 companies, manufacturers and government agencies.
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