At Chicago-based intellectual-property merchant bank Ocean Tomo’s recent live IP auction, two world records were set for the highest prices ever recorded at a multi-lot live IP auction: $3.025 million for a portfolio of video-on-demand-related patents by Connecticut-based Image Telecommunications, and $2.86 million for a mobile social-networking technology patent by Massachusetts-based company RovingRadar. The bidders were undisclosed.
The total amount brought in for the 34 lots sold—out of 67 on offer—was nearly $11.43 million, with the average selling price per lot at $336,148. Most of the lots were in the high-tech information technology arena, with sellers including such luminaries as photographic pioneer Eastman Kodak, IT hardware and software giant Sun Microsystems and San Diego-based computer storage supplier Iomega.
The results of the auction were an improvement over those of Ocean Tomo’s previous two live IP auctions, held in San Francisco in April 2006 and in New York this past October. “Not only did the total amount of patent sales on the floor more than double the past two auctions, but a number of other key factors increased considerably as well—the average selling price per patent, the percentage of total lots sold, and the percentage of successful sellers,” said Andrew Ramer, president of Ocean Tomo Auctions, in a statement.
The next Ocean Tomo live IP auction will be held in London on June 1, and will feature IPValue CEO Vincent Pluvinage (profiled in IP Investor’s January 2007 issue) as a guest speaker.
For more about the most recent Ocean Tomo auction, see the newsfeature in IP Investor’s upcoming June issue.