| Disruptors Welcome
In the olden days--before 2005--eBay (NASDAQ:EBAY) was ambivalent about independent developers who ginned up applications to help buyers and sellers navigate its online auctions. In fact, it actually charged those developers fees, up to hundreds of thousands of dollars a year, based on the number of people who used the programs. .
Patent auctions generate big sales
An innovativeChicago intellectual property firm is creating a live auction marketplace, which is rare in an age where many companies are shifting their business online. More than 200 attended Ocean Tomo Auctions LLCs auction Thursday at the Union League Club of Chicago. It was the third such event hosted by Ocean Tomo. This is like the Christies or Sothebys of patent auctions, said George Kelakos of Kelakos Advisors LLC. Opening bids ranged from $10,000 to hundreds of thousands of dollars. Bids were solicited in at least $5,000 increments. The main advantage of the auction is simply that it is one-stop shopping for patents, said Bruce Lehman, former head of the U.S. Patent and Trademark Office. There really isnt any other place you can go to get a wide variety of patents.
Auction Revenues Increase 2 Percent, NAA Reports
Gross sales revenues from auctions by the National Auctioneers Association (NAA) members in the first quarter of 2007 increased 2% over same time period one year ago, a study by the NAA has found. If this trend continues, it will translate into approximately $266 billion total revenue for 2007 for the entire auction industry, up from $257.2 billion in 2006, a projected 3.4% percent increase for all of 2007. This suggests the possibility of a slightly slower growth in the live auction industry in 2007 compared to 2006, when a 7.1 percent growth rate occurred for all of 2006 over the previous year. The first quarter growth last year was 5.7 percent. These are the findings documented in a quarterly report of auction industry growth being conducted by global market research firm MORPACE International on behalf of the National Auctioneers Association (NAA).
Burlco eyes Web auctions
Burlington County plans to join other local governments in auctioning government surplus items on the Web. The Burlington County Freeholders authorized its treasurer's office to sign an agreement with GovDeals Inc., which operates an Internet auction site called www.govdeals.com. The freeholders said they will sell vehicles and office equipment to the public online to make more money, save time and attract more bidders. Sharon Brauckmann, county purchasing agent, said the auction would be held later this year and not until the state Department of Community Affairs gives its approval. She said the state must approve a county application to waive the normal local public auction using an auctioneer. Kurt Brock, the county's chief financial officer, said the state is approving Internet auctions of government property only on eBay and GovDeals.
BCE bidding war looms
MONTREAL - BCE Inc. has put itself into play, sparking a potential bidding war among Canada's top pension funds for Canada's largest telephone company. BCE, the parent of Bell Canada, said yesterday it had entered into talks with a group that includes Canada Pension Plan Investment Board (CPP), Caisse de depot et placement du Quebec, Public Sector Pension Investment Board and U.S. privateequity firm Kohlberg Kravis Roberts &Co. about a possible buyout. "This is an expression of intent, and we are heading into a period of due diligence," said Ian Dale, a CPP spokesman. .
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