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Article: Online auctions turn crash into cash
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- June 3, 2002
- Author:
CopyrightCopyright 2002 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Online auctions turn crash into cash
Internet site benefits from defunct companies
By STACEY HIRSH Baltimore Sun
Monday, June 3, 2002
Call it the Sotheby's of the "New Economy."
Bid4Assets Inc. of Silver Spring, Md., takes the assets of defunct
companies and auctions them off from its Web site. It is the kind of
business that surges when the economy deflates and has benefited from
the burst of the dot-com bubble.
"The asset sales business is a good business in good times and a
great business in not-so-good times," said Rick Zitelman, the
company's president and chief executive.
Tim Miller, president of Webmergers.com, a San Francisco-based
company that researches Internet businesses, said: ...