Another example of how we are constantly taking on new challenges, The PA Department of General Services has asked us to help them move confiscated fireworks.  I thought Clint Francis was joking when he asked me to build an outreach e-mail for his seized fireworks auction.  I thought that I had missed a machine brand name somewhere, but as I soon found out . . .they were in fact seized fireworks.  Clint built this as a Private Featured Auction or PFA.  We use these for auctions that are by invitation only and are not part of our public auction calendar.  We are still able to utilize the same technology to run these auctions, but we are able to keep their location on the web private and only distribute the link to those individuals that have the credentials to participate in the auction.  We use these private auctions for ExxonMobil and for the numerous scrap metal service contract bids that we run each year.  The bid is still open and we are in the beginning stages of inviting people to bid.  The results should be interesting.

A few months ago the Pennsylvania Department of General Services (SGS) handed us the opportunity to auction a Bridge Inspection Crane.  A few years back, in the infancy of our relationship with the DGA, they handed us a similar task.  We took this early opportunity to show the DGS the power of a well executed online auction.  The first crane that we put up for auction surpassed the expectations of the DGS and they were sold on the idea of online auctions. 

This success was not short lived.  We have executed a number of online auctions for the DGS with excellent results.  First of all we have over 8900+ registered global bidders.  Some are as close as Pittsburgh, PA, while others are in the far reaches of India and other European nations.  Second, we use the internet to target industry specific buyers and market our auctions directly to them.  This process has been applied to everything from scrap metal to industry specific bearing manufacture equipment, textile equipment and tractor trailers  While some auctions are marketed directly to our bidding pool, we find it necessary to extend our marketing to the right people and the right industries that are going to be interested in participating in these select auctions.

This most recent bridge crane auction was another success story.  We were able to target the bidders from the previous auction and use what we learned about this specific industry to market this item to folks that we believe would be interested in participating in the auction. 

We opened this auction with a $20,000 opening bid and were able to engage enough the bidders to drive the price to over $115,000 at close.  It was a gold star once again for our rolling stock and transportation expert, Michael Frate and another successfully executed sale for the DGS.

We are currently hosting an online auctions for Backhoes, Loaders and Office Equipment for the DGS and will be hosting additional online auctions for rolling stock in March and April.  You can always see our current auctions at http://www.asset-auctions.com/auctions.html

Asset Auctions LLC continues to move forward in 2007.  With the addition of a few staff members, we are sure to exceed the expectations of our clients and customers.  

January shows a great start with our second textile mill equipment and SULZER projectile looms from West Point Home.  This auction closes on the 16th of January and is sure to be a popular auction for our international buyers especially those located in India.  We have always had a lot of international interest in our auctions and we have developed processes to insure the transfer of funds to complete the transactions. 

Closing later this month is an auction for tractor equipment from the Pennsylvania Game Commission.  This is just another example of our continued relationship with The Department of General Services for Pennsylvania.  We will continue to help with the liquidation of assets for the DGS.  We have helped them with everything from church organs to front end loaders.  Each year we host live auctions for both PennDot and the Turnpike. 

Completing the listing of auctions to date is the INGERSOLL RAND Centac High Horsepower Air Compressor auction.  This sale will close on the 24th.  Offered are 11 high horsepower air compressors.  

Take a few minutes and click over to our website at www.asset-auctions.com.  Registration is free and will automatically set you up to receive auction notification e-mails.  It’s the best way to stay in touch with all our offerings.  

For questions regarding our blog or information about upcoming auctions, be sure to drop me a line at jdowning@asset-auctions.com 

Thanks, 

James