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The Surplus Record has been available online since 1986, [4] when buyers would use 2400-baud modems to access it. Currently, it is the largest online directory in the world for surplus capital equipment. [5] The company started its own online auctions in 1999, [1] [6] a year before it was acquired.
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An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [ 1 ] [ 2 ] [ 3 ] Similar to in-person auctions, online auctions come in a variety of types , with different bidding and selling rules.
Overall, we are seeing enhanced network effects in our two-sided marketplace platform as we grew our auction participants and completed transactions by 22% and 12%, respectively, during the quarter. We converted this growth to over $22 million in operating cash flow in the fourth quarter, highlighting the strength of our asset light business model.
Because unproductive assets cost money, it is important to classify them as such by investment recovery personnel. Later, a decision can be made whether to redeploy or divest. Surplus assets could be in any form, including fixed equipment, mobile equipment, buildings, or land. Idle or surplus assets can be either capital assets or non-capital ...
The name Big 5 is derived from the first five Army surplus stores that were opened in California. [6] Sportswest and Sportsland were acquired in May 1988 from Pay 'n Save subsequently. In 1990, the company was fined $125,000 for selling discounted brand-name shoes that were actually poorly manufactured by those brands to be distributed only in ...
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