CHICAGO, IL - Ocean Tomo Auctions LLC, the auctions arm of Ocean Tomo, LLC, and the leading Intellectual Capital Merchant Banc firm, announced the results of its Fall 2007 Live Intellectual Property Auction held on October 25th at The Palmer House Hilton in Chicago.

Cumulative sales including buyers' premium on the auction floor and immediately following open-bidding totaled $11,599,500, producing strong results for buyers and sellers alike, with further transactions anticipated to close in the coming weeks.

"Having completed our fifth event, our total patent transactions from auction lots are approximately $50 million - all within a span of 2 years. Since its inception, we've seen an amazing transformation in the market, including corporate acceptance and support as well as increased participation from buyers and sellers. Many of our initial skeptics are now supporting our efforts as our best customers," said Andrew T. Ramer, president of Ocean Tomo Auctions. "I never envisioned a day where one of our best sources of referrals would be the buyers. The auction has really come full circle."

Thirty-seven of the seventy-five offered lots were sold on the floor, with lot 42B selling immediately following the open-bidding session, for a 51% transaction success rate and an average sale price per lot of $305,250. Consistent with past auctions, successful sellers included multinational companies, small to mid-size companies, professional inventors and others.

The chart below displays results by lot (including buyers' premium):

Lot Number Total Sale Amount  Lot Number Total Sale Amount 
Lot 3 $82,500  Lot 23 $82,500 
Lot 4 $165,000  Lot 24 $110,000 
Lot 5A $11,000  Lot 25 $165,000 
Lot 6 $110,000  Lot 25B $192,500 
Lot 6A $302,500  Lot 29B $38,500 
Lot 8 $715,000  Lot 30 $165,000 
Lot 9 $385,000  Lot 31 $16,500 
Lot 10 $1,100,000  Lot 31A $110,000 
Lot 11 $165,000  Lot 32 $71,500 
Lot 12 $165,000  Lot 32A $44,000 
Lot 13 $825,000  Lot 33 $330,000 
Lot 14 $550,000  Lot 34 $220,000 
Lot 15A $82,500  Lot 35 $165,000 
Lot 16 $165,000  Lot 37 $352,000 
Lot 16A $110,000  Lot 42 $341,000 
Lot 17 $594,000  Lot 42A $110,000 
Lot 19 $440,000  Lot 42B* $550,000 
Lot 20 $1,925,000  Lot 42C $495,000 
Lot 22 $110,000  Lot 49 $38,500

*Transacted immediately following open-bidding.

Over 500 professionals attending the event were witness to yet another stellar performance by David Gooding, founder and president of Gooding & Company, world-renowned classic car auction house, and British auctioneer Charlie Ross, who appears on the 'Antiques Roadshow' and 'Flog It!' in his native England. "There was quite a healthy turnout at the event as always and more bidding activity in the room than ever," said Charlie Ross. "Furthermore, we were treated to some extremely spirited bidding on several of the lots."

The next Ocean Tomo Live IP Auction will be held on April 1-2 at The Ritz-Carlton in San Francisco. Ocean Tomo has posted an 'open call' for IP submissions and has identified the following areas as having high buyer interest: Audio Encoding/Signal Processing, Digital Media, Financial Services/e-Commerce, Gaming Technologies, Location Based Services (GPS), Logistics, Semiconductors, Telecommunications and Internet/Web Services.

Ocean Tomo Auctions has received global recognition as the leader in the live auctioning of intellectual property assets for some of the world's largest and most established companies.

source: ap-IP news