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| Type | Private |
|---|---|
| Founded | 1999 |
| Headquarters | Houston, Texas, USA |
| Key people | Dave Dawson, CEO Jim Reilly, President & COO Shane Whittington, CFO Scott Richardson, Vice President, Technical Solutions Gregg Groenemann, Vice President of Marketing & Business Solutions Tim Sinyak, Director of Global Operations |
| Industry | Online Auction Business Model |
| Products | Diverse |
| Employees | ~45 (2009) |
| Website | www.salvagesale.com |
Founded in 1999, SalvageSale is an online auction marketplace built for the disposal of insurance and corporate surplus, salvage and other goods. SalvageSale's experience with salvage and its knowledge of the inland marine, ocean marine and commercial property insurance segments has positioned the company as the leading authority on salvage disposition best practices.
Process
When an Insurance claim is filed and assigned, the item in question is normally damaged or considered scrap. The insurance company has a few options to not only get rid of the salvage, but also find someone who values it.
Businesses like SalvageSale find competitive buyers interested in the salvage and gather them in its online auction format. Competitive bidding provides a favorable outcome for the companies selling their salvage, with the final price assisting with their anticipated recoveries. Detailed reporting on the auction provides the insurance company with information for future claims situations and in accounting for the next year's total amount in recoveries.
Awards
- 2008 Houston Business Journal's Fast 100 Honoree
- 2007 FastTech 50 Top 10 Finalist
- 2007 Houston Business Journal's Fast 100 Honoree
- 2006 FastTech 50 Top 10 Finalist
- 2005 Ernst & Young Entrepreneur of the Year Regional Finalist
- 2005 A. M. Best E-Fusion Award in Special Coverage Management
- 2005 FastTech 50 Top 10 Finalist
- 2005 Inaugural Aggie 100 Honoree - Top 10 Finalist
- 2004 FastTech 50 Top 10 Finalist
- 2003 FastTech 50 Top 10 Finalist
- 2002 FastTech 50 Top 10 Finalist
External links
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