Huggins and Scott Auction Decision

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Posted By: Josh Wulkan

All Board Members:

I am so very sorry for the technical problems that we experienced tonight. The Verizon Business Fiber Optics System crashed about 4 minutes prior to our auction closing. We contacted Verizon Business Support, but they could not give us a definitive time of restoration.

As a group, here is what we've decided to do:

Lot #s 1-739, which were supposed to end tonight, will now end tomorrow night and once the site comes back up, we will stay in the extended bidding time. This means that all of the people who had bids in prior to 9:00pm EST on lot #s 1-739, will be allowed to bid on those items until they close tomorrow night beginning at 11:00pm EST with the 30-minute rule again. Lot #'s 740-1531 will close as they were supposed to, where all initial bids will need to be placed by 9:00pm EST tomorrow night on those.

All of the data is still perfectly intact and if you were the high bidder at the time of the crash, you are still the high bidder when the system is restored.

Again, I sincerely apologize and it was completely out of our control. We believe this to be the best way to handle this situation.

We are currently having our IT guys working on restoring the system beginning at a very early hour tomorrow.

I'm sorry that I do not have any more information at this time; please recheck our site in the morning.

Unfortunately, we are now living in the computer age and we do hope that no one feels that this was intentional or personal.

Josh Wulkan
VP of Auction Operations