By Christopher P. Singer —

On October 30, 2007, Ocean Tomo Auctions, LLC (the auctions arm of Ocean Tomo LLC) announced the results of its live IP auction, held on October 25, 2007 in Chicago.  The announcement indicated that sales from the open bidding session and transactions that immediately followed the open bidding totaled $11,599,500.  Thirty-seven of the 75 lots available were sold on the day of the event, making it one of Ocean Tomo’s most successful IP auction to date, based on percentage of lots sold during the event.  The lots not receiving bids meeting the seller’s minimum reserves could be traded privately.  The average sale price per lot was $305,250, with the highest sale price being $1,925,000.  Ocean Tomo’s next live auction is scheduled for April 1-2, 2008 at the Ritz-Carleton in San Francisco.  Intellectual property owners can submit their IP for consideration by calling 312-377-4851 or by visiting http://www.oceantomoauctions.com.