Article: Pedestal's Live Auction Results Far Surpass Expectations.

WASHINGTON, July 25 /PRNewswire/ --

Pedestal Inc. today reported that its online live auction of approximately $35.4 million of loans held by the Trust Funds of RTC Pass Through Certificates Series 1991-6 yielded a return to the seller well-above pre-auction expectations.

A total of seven institutions, including leading Wall Street firms, posted 44 bids during the live auction held last week. Initially scheduled for 15 minutes, the extraordinary level of bidder interest lengthened the auction to over 36 minutes as Pedestal's automatic extension feature was triggered several times.

"Pedestal's unique live auction technology once again delivered ...

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