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Tech Bits.(A)(Internet & Technology)

Investor's Business Daily

| February 01, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

DoveBid Befriending Vultures

As Net Firms Go Belly Up

Industrial auctioneer DoveBid Inc. is reaping the benefits of belt-tightening in a scary economy.

Jeff Crowe, president of the privately held Foster City, Calif., company, says revenue rose almost eightfold in 2000 vs. 1999 - and a big reason is all the firm's Internet companies. In the next few weeks, DoveBid plans to auction off the assets of one public and three privately held failed Inte

rnet companies.

But almost every Dove auction has some computer equipment, says Crowe, and two out of every 10 auctions comprise solely computer and office equipment. "This is a great time to be buying used PCs and used servers, the best time in a longtime," he said.

The 63-year-old company used to conduct auctions only the old-fashioned way. A year ago, it began simultaneously doing business in cyberspace with bidders calling in via Webcast. Cyber-bidders compete with bidders who are live and in person on an auction floor.

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