Tomo Auctions, LLC — the auctions arm of Ocean Tomo, LLC, the leading Intellectual Capital Merchant Banc® firm — today announced the record-breaking results of its Spring 2008 Live Intellectual Property Auction held on April 2nd at The Ritz-Carlton San Francisco. Cumulative sales, including buyer’s premium, totaled $19,629,500, with an average sale price per lot of $370,368, producing strong results for buyers and sellers alike, with further transactions anticipated to close in the coming weeks.

In a historic moment, Lot 25, a notable IP portfolio owned by the subsidiary of a world-renowned multi-national corporation, sold for $6,600,000, setting a new world record for the highest selling price for a patent lot at a multi-lot live IP auction. In addition to the Lot 25 record-breaking sale, related to the processing of digital data in bit streams, the auction heralded three other transactions in the seven-figure range in the areas of computer systems and software, information management and data system, and location based services and logistics.

Fifty-three of the eighty-five offered lots were sold on the floor for a 62% transaction success rate, and forty-three of the sixty-nine sellers sold lots resulting in a 62% seller success rate. Other successful sellers included venture-backed companies, individual inventors and large multi-national corporations.

“We are extremely pleased with the results, as the auction is now truly reaching new levels. The on-the-floor bidding activity and excitement of the event continue to increase with better results for our sellers,” said Andrew T. Ramer, President of Ocean Tomo Auctions. “In the past two years, we have witnessed the growth of the auctions business and are proud of the fact that this forum has become central to the development of the IP marketplace, benefiting both buyers and sellers.”

All auction results are also listed on Patent Bid/Ask at www.OTPBA.com.

Posted: 04|5|08 at 8:59 am. Filed under: Auction News.