Message #15 From:
Stock News Bot Date: September 21, 2006 07:10:00 AM
WWAG News WWA Group Concludes Dubai Auction with Record On-Line Sales
DUBAI, United Arab Emirates--(BUSINESS WIRE)--Sept. 21, 2006--WWA Group, Inc. (OTCBB:WWAG) today announced the successful conclusion of a major auction held at WWA Group's Dubai facility from September 11 to September 13, 2006.
Gross auction sales exceeded US$19.5 million and involved more than 410 registered bidders from 28 countries, setting record numbers for sales and participants in 2006. Items auctioned on behalf of 148 consignors from 18 countries, consisting of more than 1,340 items, were sold to 212 successful bidders. The auction also generated a record number of on-line sales to WWA BIDLive on-line bidders, with 9% of total sales going to on-line bidders.
"We are pleased with the buyer turnout at this auction in Dubai, and the record number of on-line bidders," commented Eric Montandon, chief executive officer of WWA Group, Inc. "We sold a record number of items for more value on-line than at any auction since we first introduced the BIDLive system in 2003. This overall turnout helped push up the prices across most categories, and we expect continued growth in the higher margin, on-line business segment."
This was the 39th auction held by WWA Group's wholly owned subsidiary in Dubai since March of 2001, and is the third of six physical auctions planned for Dubai in 2006. WWA Group has completed 14 of the total 20 physical equipment auctions planned for the U.A.E., Australia, Indonesia and Qatar during 2006.
Actual sale prices for all items sold at all auctions are published for members at www.ironauctions.com. Member registration is free on the site by clicking on "Auction Results." Lists of equipment for sale at upcoming WWA Group auctions are updated daily on the site. Anyone interested in consigning equipment to the auctions, or registering to bid, can e-mail info@ironauctions.com or call 011 971 4 881 6142.
WWA Group is a public company; its common shares trade on the OTCBB under the ticker symbol "WWAG."
For further investor information, please contact Eric Montandon at 011 971 4 881 6142, peruse our News, or access our Web site at www.wwagroup.com.
A number of statements contained in this press release may be considered to be forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results WWA Group may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. WWA Group encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. WWA Group's public filings may be viewed at www.sec.gov.