Go East for Surplus Goods

EastEuroMarkets begins selling assets, excess inventory and companies in Eastern Europe

Oct. 16, 2000  PRNewswire  Looking for buildings in Bucharest? Office supplies from Sophia? Maybe some work clothes from Warsaw?

Have we got a deal for you.

More precisely, online exchange EastEuroMarkets has a deal for you. On Monday, EastEuroMarkets opened for business on the Web, selling surplus assets and excess inventory from Southeastern Europe.

Items for sale range from unused production equipment to fast-moving consumer goods. EastEuroMarkets's Web site will also provide information about equity stakes for sale in a variety of companies. The site will initially serve the Romanian market but ultimately plans to expand to other regional countries.

"We see this as a huge opportunity to expand both sides of the trade equation  the Romanian businesses selling their excess inventories to the global market and importing value-priced items to their own domestic market," said Philip Stephenson, a founder and director of EastEuroMarkets.

"This is the first venue through which Romanian businesses can efficiently sell their products to a global market", said Tom Saidy, vice president of International Equity Partners. "With increasing Internet connectivity in Romania, we think this could become the leading online sales and purchasing channel for large and small businesses in the country."

Sellers can list companies and merchandise on EastEuroMarkets.com anonymously and for free. Sellers pay a transaction fee to the marketplace of five percent for the sale of a company or 10 percent for the sale of surplus assets, excess inventory or merchandise.

Buyers can use the site to order samples, manage shipping and logistics, hold money in escrow until delivery is completed and merchandise is accepted and communicate with the seller to negotiate terms.

The site lists companies for sale in various sectors, as well as products in 27 different categories including apparel, building products, consumer merchandise, office supplies and military and government surplus.

EastEuroMarkets, Inc. was founded in early 2000 by U.S.-based private equity investors in partnership with private investors in Europe. EastEuroMarkets has offices in Northern Virginia and Bucharest. Investors in EastEuroMarkets include International Equity Partners, LP which is a U.S. venture capital firm.

Washington, D.C.-based Liquidation.com is providing the online exchange platform and integrated services for the marketplace. Liquidation.com's surplus exchange platform will post all of the assets and excess inventory for sale, automate anonymous negotiations between buyer and seller, guarantee purchases up to $1 million through an insured escrow account and allow users to manage shipping and logistics from a single online location.

Assets and companies posted on EastEuroMarkets will be marketed through Liquidation.com's marketplace to their network of more than 100,000 traders in 95 countries. In addition, these assets will also be available to buyers on Liquidation.com's partner exchanges.

"The integration of the EastEuroMarkets Web site into Liquidation.com's full-service network of B2B exchanges eliminates the high transaction costs and uncertainty in negotiations that made the resale of these companies and assets difficult," explained Bill Angrick, CEO of Liquidation.com.

Liquidation.com bills itself as the world's leading horizontal business service provider for buying and selling excess inventory and surplus assets within the B2B marketplace. The global surplus market is estimated to be valued at $350 billion.