Online Sales Boost Growth of North Caldwell, N.J.-Based Auctions Firm.

Byline: Kevin G. DeMarrais

Apr. 22--Except for the Kobe Bryant basketballs gathering dust in the vault, Greg Manning Auctions Inc. has been on a roll.

Revenues are flowing in from a series of recent acquisitions and higher-than-expected prices in an auction prompted the North Caldwell-based collectibles merchant to revise profit estimates to $11 million this year, a nearly fivefold increase over 2003 totals.

The good news has helped push GMAI stock up by more than 60 percent in less than a month. As recently as Jan. 8, 2003, the stock had plummeted to $1.45 a share; now it is $14.90.

Not bad for a company that grew from a child's hobby into a multimillion-dollar enterprise, a company whose fortunes -- and stock -- soared and sank along with other dot-com enterprises a few years back.

While many online businesses didn't survive, Manning Auctions learned to use the Internet to complement its traditional auctioneer-and-gavel auctions.

Typical is an auction ending today. Philatelists from around the world are bidding on the extensive Arthur Freeman collection of stamps from the United States and Nordic countries. For a 5 percent premium, collectors participate on eBay Live, an interactive Web site that is increasingly part of the auction business.