Internet watch 3-01
PI: So, in essence, are you removing the broker from the equation?
Bastin: We are providing end-to-end services for everything second tier and lower printers might need.
What makes this unique is that, in the past, a dealer or broker made all the money. They are the hidden millionaires. There are more millionaires per capita in the used equipment business than there are on Wall Street. We're putting the money back into the seller's pocket, not the broker's pocket.
We're also providing printers the ability to find the printing equipment that they need, when they need it. I have a friend who owns a large printing company in San Diego. A few years ago, he was trying to find a UV flexo machine so he could fulfill a major contract.
He couldn't wait 18 months for the press to be manufactured, when he had a contract today. All he could do was get on the phone and call around to see who might have such a press.
We are providing a service where he can type in "UV flexo" into the computer and not only be able to find one, but maybe be able to find two or three so that he has some selection.
Our intention is to have a mass offering of quality assets from major corporations, such as the R.R. Donnelley's of the world, while being able to provide these assets at fair prices to our customers.
PI: You've mentioned that you provide end-to-end service. What exactly are some of those services?
Bastin: We provide the printing industry the ability to finance the equipment, lease it, as well as sell the equipment and get a higher price for that machinery. We also provide help with shipping, as well as a 90-day warranty on anything purchased through us. We want to instill confidence in people purchasing from the site.