AMSTERDAM, Netherlands - (Business Wire) Ocean Tomo Auctions, LLC -- the auctions arm of Ocean Tomo, LLC, the leading Intellectual Capital Merchant Banc
® firm -- today announced the results of its 2008 European Live IP Auction held on 26
th June at the NH Grand Hotel Krasnapolsky. Cumulative sales, including buyer
’s premium, totaled $12,674,046 (
€8,085,000), with an average sale price per lot of $437,036 (
€278,793), producing strong results for buyers and sellers alike, with further transactions anticipated to close in the coming weeks.
For the first time, the auction was also viewed by simulcast throughout Asia at select venues. Several hundred people viewed the auction in closed-circuit locally-hosted events in Singapore, Tokyo, Bangalore, and Seoul.
Successful sellers included large multi-national corporations, venture-backed companies and individual inventors. Twenty-nine of the sixty offered lots were sold on the floor for a 48% transaction success rate, and based on immediate post-auction interest, this rate is expected to exceed 60%.
Active Bidding Leads to Exciting Sales
Lot 7, related to digital media and offered by DataNav, LLC, was sold for $2,414,104 (€1,540,000) making it the highest selling lot at auction. “Ocean Tomo has been successful in providing an alternative and viable option for patent holders to sell their patents to willing investors on a global level,” said DataNav’s CEO Allen Hobbs. DataNav is excited and proud to be a part of such a process.”
For the second time, Mikko Väänänen was successful at auction selling Lot 32 related to messaging technology for $1,681,251 (€1,072,500). Mikko also successfully sold a lot related to wireless file-based multimedia messaging at the Ocean Tomo 2007 London auction. “I am personally exhilarated of having been able to complete this sale,” said Mr. Väänänen. “Ocean Tomo has truly realised a market for inventions, and I know its existence encourages present and future inventors alike.”
The auction, Ocean Tomo’s second in Europe held as a follow-up to London last year, was part of the IP Business Congress co-presented by IAM Magazine. The IPBC event, combining the auction with the CIPO Summit, consisted of two days of high-level, practical discussions led by a world-class faculty of over seventy speakers focusing on understanding the roles and responsibilities of the chief intellectual property officer.
The chart below displays results by lot. All auction results are also listed on Patent Bid/Ask at www.PatentBidAsk.com.
| Lot Number | | Total Sale Amount | | Lot Number | | Total Sale Amount |
| Lot 1 | | $431,090 (€275,000) | | Lot 17b | | $215,545 (€137,500) |
| Lot 1c | | $387,981 (€247,500) | | Lot 17c | | $163,814 (€104,500) |
| Lot 2 | | $112,083 (€71,500) | | Lot 18 | | $189,680 (€121,000) |
| Lot 3 | | $112,083 (€71,500) | | Lot 19 | | $163,814 (€104,500) |
| Lot 4 | | $112,083 (€71,500) | | Lot 19a | | $86,218 (€55,000) |
| Lot 4a | | $163,814 (€104,500) | | Lot 20a | | $275,898 (€176,000) |
| Lot 5 | | $250,032 (€159,500) | | Lot 22 | | $112,083 (€71,500) |
| Lot 6 | | $241,410 (€154,000) | | Lot 23 | | $431,090 (€275,000) |
| Lot 7 | | $2,414,104 (€1,540,000) | | Lot 27 | | $517,308 (€330,000) |
| Lot 9 | | $215,545 (€137,500) | | Lot 31 | | $327,628 (€209,000) |
| Lot 11 | | $1,034,616 (€660,000) | | Lot 32 | | $1,681,251 (€1,072,500) |
| Lot 12 | | $163,814 (€104,500) | | Lot 34 | | $43,109 (€27,500) |
| Lot 15 | | $112,083 (€71,500) | | Lot 38 | | $551,795 (€352,000) |
| Lot 16 | | $224,167 (€143,000) | | Lot 39 | | $1,207,052 (€770,000) |
| Lot 16a | | $732,853 (€467,500) | | | | |
“We are extremely pleased with the results of our second European auction and our progress towards the development of a European IP transaction marketplace,” said Andrew T. Ramer, President of Ocean Tomo Auctions. “In the past two years, we have witnessed this growth not only in Europe but internationally as we’ve had successful sellers from countries including the Netherlands, France, Germany, UK, Finland, Norway, Belgium, Canada, Jamaica, Israel, Saudi Arabia, Japan, China, New Zealand, Australia and others. We are extremely encouraged by this overwhelming support from the global IP community.”
Approximately 450 professionals gathered to witness yet another outstanding performance by auctioneer Charlie Ross, who appears on the ‘Antiques Roadshow’ and ‘Flog It!’ and David Gooding, President and Founder of Gooding & Company, one of the world’s premier auction houses, which has set numerous world records for sales at auction and by private treaty. “It was good to see the Ocean Tomo Auctions team going from strength to strength in Europe,” said auctioneer Charlie Ross. “I am particularly thrilled to see two lots far exceed one million dollar sales.”
Upcoming Live Auctions
Ocean Tomo is now accepting IP submissions for its next auction to be held in the fall on October 29th-30th in Chicago, IL. To submit IP for consideration or for more information, please call +1.312.377.4851 or visit www.OceanTomoAuctions.com.
About Ocean Tomo, LLC
Established in 2003, Ocean Tomo, LLC (www.OceanTomo.com) is the leading Intellectual Capital Merchant Banc® firm. The company provides financial products and services related to Intellectual Property financial & survey expert testimony, valuations, investments, risk management and transactions. Headquartered in Chicago, Ocean Tomo has offices in San Francisco, Palm Beach, Orange County and Washington, DC. Subsidiaries of Ocean Tomo include: Ocean Tomo Auctions, LLC; Ocean Tomo Asset Management, LLC; and Ocean Tomo Capital, LLC -- publisher of the Ocean Tomo 300® Patent Index (Amex: OTPAT), the Ocean Tomo 300® Patent Growth Index (Amex: OTPATG) and the Ocean Tomo 300® Patent Value Index (Amex: OTPATV).
About Gooding & Company:
Gooding & Company provides unparalleled service for those in the collector car market, offering a wide range of services, including private and estate sales, appraisals and collection management. As the official auction house for the annual Pebble Beach Concours d’Elegance, the company sold more than $61.3 million worth of collector automobiles in August 2007. Gooding & Company will be conducting its annual Pebble Beach auction on August 16 & 17, 2008 in Monterey, California. Gooding & Company also lends its auction expertise for the live intellectual property auctions of Ocean Tomo, a fully integrated intellectual capital merchant bank specializing in understanding and leveraging intellectual-property assets. For more information, please contact (310) 899-1960 or visit www.goodingco.com.
Ocean Tomo
Wendy Chou, +1-718-812-6707
wchou@oceantomo.com
