Press Release

INTERNET AUCTION SITE TAKES IDLE BUSINESS ASSETS AND TURNS THEM INTO PROFIT

Long before the internet and technology formed a formidable part in people's lives, Harry Ross was pioneering the future of turning surplus assets into profit.

Melbourne, Australia (14 March, 2007) - Speculating that technology could be used to successfully conduct business auctions was not at the forefront of most people's minds in 1937. Yet Harry Ross started something.

Flick forward to 2007 and what Ross started all those years ago is evident.

DoveBid Inc. is one of the industry's most experienced and innovative business-to-business online auctioneer and global leader in capital asset management and valuation services.

"By helping businesses proactively manage assets through valuations, redeployment and disposition, DoveBid's integrated asset management services are seamless. The vendor need only provide details of the assets put forward for sale, and we do the rest," said DoveBid Australasia's managing director, Peter Berry.

The service includes onsite valuations, online asset disposition, asset redeployment and asset sourcing. They are facilities to help businesses redeploy and dispose of surplus assets easily and in a secure environment.

The multi-tiered business model allows DoveBid to leverage the highest possible returns on unused and surplus equipment, regardless of size or location. Assets can, and often do, range from single machines to multiple assets spread over various locations.

Yet, just like Ross in 1937, the same fundamental principals apply. A sale is made and goods change hands, only this time technology has provided the missing link for businesses and subsidiaries the world over. It matters not if a company has branches in Sydney, Singapore or Säo Paulo - DoveBid provides the infrastructure for the transaction to occur.

"DoveBid has merged new technologies with past experiences and maximises the value of assets which sit within an organisation. By blending time-honoured auction methods and direct marketing with the internet, DoveBid has the complete ability to conduct a safe and secure online auction and to act as a secure corporate resource," said Mr Berry.

"The trend towards internet business transactions and auctions is rapidly increasing. Participation during an online auction is, not only a social activity for those seeking retail products, but now a serious medium for businesses to purchase and dispose of a multitude of assets."

Based on superior technology, the user-friendly online auction platform features an advanced online sales system that is based on methods which are designed to create maximum results.

Once an asset is sold, DoveBid can help facilitate the transportation from vendor to buyer, removing the vendor from the tiresome logistical wrangling.

"DoveBid understands the market needs for surplus capital assets and assists with every aspect, from internal redeployment to transaction support, the entire process is covered," said Mr Berry.

DoveBid also operates AssetZone™, a revolutionary Surplus Asset Management system.

AssetZone™ facilitates the internal transfer of idle – but needed – company assets and is a multi-tier web application that requires registration with DoveBid. The benefit to businesses bottom line is often enormous.

"Businesses who use AssetZone™ are able to manage, redeploy and re-distribute surplus assets around different departments, locations and subsidiaries. If any surplus assets remain, the business is then able to sell to the general public.

For company's wishing to sell assets without DoveBid's direct involvement, AMP – DoveBid's Asset Management Portal enables businesses to effortlessly list and sell equipment. The cost of using AMP is free to vendors and allows businesses to load equipment information 24 hours a day.

DoveBid Australasia Pty. is headquartered in Melbourne.

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Media Contact
David Micallef
P 03 9686 5344

Australia
DoveBid Australasia Pty Ltd
P +61 3 9834 9000
F +61 3 9808 8031

Asia Pacific
DoveBid Singapore Pte Ltd
P +65 (0) 6334 4266
F +65 (0) 6334 0469