SalvageSale

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SalvageSale, Inc.

Type	Private
Founded	1999
Headquarters	Houston, Texas, USA
Key people	Dan Parsley, Chairman & CEO Jim Reilly, Executive Vice President & COO Ronald Chamness, Senior Vice President, Insurance Business Development Chad Farrell, Vice President, Sales Operations Shane Whittington, CFO Scott Richardson, Vice President, Business Solutions
Industry	Online Auction Business Model
Products	Diverse
Employees	~35 (2007)
Website	www.salvagesale.com

SalvageSale, Inc. is an online marketplace built for disposal of insurance and corporate surplus, salvage and other goods. Founded in 1999 by Charlie Wilson, SalvageSale serves millions of customers with its proprietary bidXchange auction.

[edit] Auction Rules

SalvageSale's bidXchange auction differs from eBay in the following ways:

The seller may stipulate terms of sale in the listing, as well as select the start and end times of the auction. All such times are expressed in Central Standard/CST time.
Bidders place bids on the listing in accordance with the seller's terms of sale.
All bids must be placed for the total quantity offered. SalvageSale does not deal in partial lots.
Upon entering a bid, bidders will be able to view their current rank and place in the Auction Watch section of their MySalvageSale page.
Market Maker expertise; SalvageSale has "Market Makers" who actively drive auction activity
The seller is able to view all bids placed on his listing, but does know the identities of the bidders.
Once a winning bid is selected (either automatically or by the seller), the bidder will be notified via email and receive a Request for Funding that includes payment instructions.