MONTGOMERY, Ala.--(BUSINESS WIRE)--GovDeals.com, a Liquidity Services (NASDAQ: LQDT) marketplace for the sale of local and state government surplus assets, is pleased to announce today that it has recently achieved a major company milestone. On February 19, 2016, the Western Suffolk Board of Cooperative Educational Services (BOCES) in New York auctioned off a KitchenAid Professional 600™ Series 6-Quart Bowl-Lift Stand Mixer, which became the one-millionth item sold on GovDeals.com since its launch in January 2001. Thirteen bidders competed for the mixer during a week-long sale, which closed with a winning bid of $48.
“Reaching a million transactions is a significant milestone for our team in the history of GovDeals,” said Roger Gravley, president of GovDeals, Inc. “We launched GovDeals.com 15 years ago with only four active clients. Since then, we have grown exponentially and now represent more than 8,500 state and local government entities in the U.S. and Canada and have attracted an enormous global buyer base to drive competition for offered assets. To date, we have recovered more than $1 billion for our clients – this is a huge win for them and their constituents as every dollar recovered is reinvested back into the community.”
Since its launch, GovDeals has sold more than $649 million in vehicles, including sedans, SUVs, heavy and light duty trucks; $128 million in heavy equipment, such as tractors, back loaders and excavators; $31 million in fire trucks; and, $27 million in aircraft and aviation equipment. It has also hosted auctions for a number of unique or collectors’ items such as a set of three limited-edition, signed lithographs and letters from the film Alien, which sold for $432.60 in May 2014; a lot of plastic meat, which sold for $234 in April 2015; 584 mature crepe myrtles, southern magnolias and windmill palm trees, which sold in seven lots for a total of $7,000 in February 2011; 2,000 live tilapia fish, which sold in September 2010 for $806.23; and, a two-story floating entertainment barge, which sold for $33,500 in February 2005.
“The key to our success has been our hardworking, devoted team,” said Gravley. “Their expertise in the government surplus market has been critical to shaping and fine-tuning our marketing and sales strategies, which have resulted in a simple, seamless experience for both our buyers and our sellers. This synergy is what has fueled GovDeals’ growth and created great commerce.”
To place bids on items for sale on GovDeals.com, or to participate in any auction on a Liquidity Services marketplace, visit Govdeals.com/Register.
GovDeals, Inc., a subsidiary of Liquidity Services, provides an innovative solution for government agencies to turn idle assets into surplus capital through our online marketplace and reverse supply chain services. Over 8,500 agencies successfully utilize GovDeals in the U.S. and Canada, collectively selling over $1 billion in surplus assets. We enable each government agency to maximize the value of their surplus assets, including vehicles, heavy construction equipment, fire and emergency fleets, aircraft and aviation equipment, and industrial machinery and equipment, while implementing sustainable surplus initiatives that have allowed our clients to move to a zero-waste model. For more information, visit GovDeals.com.
About Liquidity Services, Inc.
Liquidity Services (NASDAQ: LQDT) is a global solution provider in the reverse supply chain with the world’s largest marketplace for business surplus. We partner with global Fortune 1000 corporations, middle market companies, and government agencies to intelligently transform surplus assets and inventory from a burden into a liquid opportunity that fuels the achievement of strategic goals. Our superior service, unmatched scale, and ability to deliver results enable us to forge trusted, long-term relationships with over 8,000 clients worldwide. With nearly $6 billion in completed transactions, and approximately 3 million buyers in almost 200 countries and territories, we are the proven leader in delivering smart surplus solutions. Let us build a better future for your surplus. Visit us at LiquidityServices.com.