Electronic Auction of US Military Surplus Marks Debut of New Internet Marketplace

Electronic Auction of US Military Surplus Marks Debut of New Internet Marketplace

The purchase of US military surplus equipment is now available worldwide via the Internet. Levy/Latham Global LLC (LLG) of Scottsdale AZ, using an auction engine powered by its parent organization, SurplusBid.com, conducted its initial on-line sale of equipment from April 24-27, 2000. This is a milestone event for SurplusBid.com, which now has the potential for handling similar Internet events in both the private and public sectors.

“We are extremely pleased with the outcome of our first Internet auction,” said Earl Bray, LLG President. “We anticipate that all future sales will originate from the Internet and will provide greatly improved participation and cost efficiency for both us and our Department of Defense partners. The level of activity and interest were much greater than expected.”

The Internet auction offered a variety of merchandise, ranging from electronic test equipment to heavy machine tools located at Redstone Arsenal in Huntsville AL. LLG received over 5,000 electronic bids and generated revenue approximating $300,000 over a four-day period, exceptional results for a new site and auction engine. The arrangement also attracted international participation, with several bids originating from overseas.

Another Internet sale took place from May 22-25, 2000 at McClellan Air Force Base in Sacramento, CA. The volume and variety of equipment was much greater than for the Huntsville auction.

Levy/Latham Global LLC entered into a unique commercial/military partnership with the Department of Defense in 1998, agreeing to assume the marketing and sales responsibility for over $10 billion in acquisition value of surplus military equipment over a five-year period.

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