Get at least two qualified bidders for a software or code lot, because a lone bidder sets the price at the floor
Two Hilco Streambank sales of failed companies' software show the spread. Sitehands' platform software drew 2 qualified bids and a sealed-bid auction: the winner paid $601,999.99, more than 12 times the $50,000 opening bid. Shift Technologies' codebases drew a single qualified bidder, so the auction was cancelled and the buyer paid $120,000, while the same company's domain names fetched $1,365,000 and $900,000 and the whole IP lot made $2,420,000. Different companies and years, so this is two cases, not a trend.
Dated Mar 2024Source checked 21 Oct 2026Basis: indicative
In the source's own words
“The successful bid was made by Genesis Incubator LLC for $601,999.99, more than 12 times the opening bid of $50,000.”
Where it was read
Also read from the same source
- Sitehands (Chapter 7, S.D.N.Y. 20-12876): the gig/task platform software (an on-demand IT field-services platform that supported hundreds of clients and more than 20,000 service providers) and related intellectual property assets, sold by the Chapter 7 trustee to Genesis Incubator LLC after a sealed-bid auction run by Hilco Streambank
- All of Shift Technologies Inc.'s intangible assets (used-car e-commerce platform software and legacy codebases, the Shift.com and Fair.com domain names, other domains, brands and a patent), sold in four transactions to three bidders in the Chapter 11 IP sale run by Hilco Streambank
Figures it counts in
It is shown on its own, not counted into a figure.