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Press Release

DISCOVERING NEW VALUE IN USED ASSETS

In 1937 Harry Ross picked up a gavel and sold his first piece of machinery. Seventy years on and Ross' initial vision has grown to become one of the world's leading auctioneers and solution providers in capital asset management.

Melbourne, Australia (14 March, 2007) - DoveBid cover used capital assets in more than 25 asset categories and has sold over US $5 billion in assets. DoveBid has conducted over 5,000 industry specific auctions throughout the world, selling over 10,000,000 individual lots.

DoveBid Inc. is the successor to DoveBrothers, LLC, and for seven decades has provided a range of disposal solutions which can be uniquely tailored to suit clients.

DoveBid offers a suite of services which allow clients to determine the value of assets, redeploy assets or sell surplus assets to a global audience. Current services include private treaty sales, around-the-clock online auctions, sealed bid auctions, and appraisals which are industry specific for organisations of varying sizes.

As such, DoveBid's business model enables it to leverage the highest returns on unused, unwanted assets and surplus equipment.

By the 1980s DoveBid had pioneered the use of online auctions, embracing technology as a way to provide an easy-to-use yet advanced service for clients.

"In the 1980s, when DoveBid sold the assets of Osborne Computer, it systematically conducted the first computer auction in history," says DoveBid Australasia's managing director Peter Berry.

"DoveBid recognises and maximises the value of assets that sit within an organisation. Businesses that hold surplus assets and wish to convert assets into dollar figures are able to use a variety of DoveBid services," said Peter.

Peter's observations are based on many years of industry experience. As former managing director of Dominion Group, one of the largest plant valuation and auctioneering practices in the Asia Pacific region, Peter is an expert in the field.

"DoveBid know how to 'create commerce' for organisations," he says.

By blending time-honoured auction methods, direct marketing and the internet, DoveBid has the sure-fire ability needed to conduct an online auction.

"When businesses have real retail value attached to assets it can be extremely beneficial to value, redistribute, or dispose of them. DoveBid is flexible and diverse and can assist a small enterprise selling one item or a corporation wishing to dispose of multiple assets. We appraise and assess each situation individually, providing support across all areas," said Peter.

For company's wishing to sell assets without DoveBid's direct involvement, AMP - DoveBid's Asset Management Portal - enables businesses to list and sell equipment 24-hours-a-day and at no extra charge to the seller.

"Global corporations, multinationals, government departments and financial institutions can disperse of assets by marketing their products to DoveBid's global database of over million proprietary buyers.

DoveBid has an average sell-through rate of more than 95%, significantly higher than any other competitor."

Once organisations realise the retail value of their assets and become aware of DoveBid's services, the opportunity to add financial value to their bottom line will be enormous.

"We are confident that our philosophy of continuous development in our business model will allow organisations to get real financial value from their surplus assets," says Peter.

Another innovative service DoveBid offer is AssetZone^™ - a service which enables corporations to upload, view, monitor and transfer idle assets throughout their organisation. AssetZone^™ is a hosted and secure corporate resource to facilitate the internal transfer of idle assets.

EDITOR'S NOTE - DoveBid offers a selection of services to suit businesses large and small.

Managed Services
DoveBid is an industry leader in providing a strategic approach to surplus asset management through a range of flexible asset management solutions.