New E-Commerce Site Sells Surplus Fasteners
New E-Commerce Site Sells Surplus Fasteners
Jason Sandefur
A company in Ann Arbor, MI, launched a new website to sell surplus industrial fasteners and other supplies.
“We want to be known as the source on the Internet for industrial surplus,” Brent David Ray, CEO of SurplusTrack, told the Detroit News.
SurplusTrack launched its website in November to sell items normally sold through industrial auctioneers. Fastener categories range from blind rivets to socket head cap screws.
Using what it calls Advanced Remarketing Technology, SurplusTrack.com offers an online forum to sell excess or obsolete products, including machinery, spare parts, consumables, electrical components, fasteners, fittings and other common industrial-related materials, the News reported.
“The traditional auction houses are very successful companies, but they were forced onto the Internet,” Ray explained. “It’s not the core component of their business. We are technology people with an industrial background and we leverage the Internet.”
Ray expects part of his site’s appeal will come from the ability to sell small items individually instead of large lots. The idea for an online surplus site originated with of SurplusTrack’s parent company, TrackSpeed, which handles inventory management via the Web.
Ray expects $10 million to $12 million worth of products will be sold the first year through SurplusTrack, with the firm charging a 20% fee. Web: surplustrack.com �2006 FastenerNews.com
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