Auction Management Solutions Inc. (AMS), a technology company in the asset disposition industry, said its OnLine Ringman product contributed to a record-breaking performance in 2002.

OnLine Ringman allows auctioneers and consignors to sell items to Internet and live bidders in both real time and extended time environments. It provides live audio and data with real-time streaming video from the floor of the auction house to remote bidders via standard Internet dial-up connections.

AMS said in 2002, over 144,000 vehicles were offered for sale at 650 auction events using OnLine Ringman, with a total of $1.85 billion in assets. Auctioneers extended the bidding to 8,800 additional virtual bidders who submitted over 107,000 instantaneous bids via OnLine Ringman. Seven percent of the vehicles sold in OnLine Ringman auctions had second-highest bids from OnLine Ringman bidders over the Internet. Over $292 million in assets were sold in 2002 over the Internet to OnLine Ringman bidders in the auto auction segment alone.

OnLine Ringman customers run the gamut, from independent private auctions to publicly traded corporations, including the major players in the auto auction, capital recovery auction, livestock auction, and construction & industrial auction businesses.

http://www.auctionsolutions.com