RealTime IT News

TradeOut.com Launches Market for Idle Assets, Excess Inventory

TradeOut.com launched an independent, business-to-business Internet marketplace to facilitate transactions between buyers and sellers of extra inventory, idle assets and last year's products.

TradeOut.com said its business model is similar to that of auction site eBay. On TradeOut.com, executives can buy and sell items in over 50 product categories in an auction-based, sealed-bid or fixed-price format.

Merchandise from virtually every industry sector is represented, the company said, including electronic components, computers, machinery and textiles. More than 30 Fortune 1000 companies across a variety of industries are currently selling on TradeOut.com, the company said, including Ralston Purina, Florida Power and Light, Georgia-Pacific, MSC Industrial Supply, Weyerhauser and Duquense Light Company. The current product selection ranges from a one-megawatt generator selling for $250,000, to 95 cases of Ambrosia Invitations available for $289.

"TradeOut.com makes the process of managing excess and idle assets a far more lucrative and efficient operation for companies by providing a direct link to the largest possible buying audience and using the Internet to standardize and streamline the buying and selling process," said Brin McCagg, CEO and founder of the company.

"We view TradeOut.com as an opportunity to maximize the value of excess inventory and efficiently reach a large universe of liquidators, auctioneers and jobbers," said Bill Stiritz, chairman of Ralston Purina and a TradeOut.com charter customer. "Because of the potential savings in transaction costs and increased profit on each sale, we can significantly improve our return on assets."