Friday, May 7, 2010

Today I am 100

I began writing this post on Wednesday afternoon when there were 35 “live" auctions on the TRE platform.

The original subject was a revisiting of the topic addressed in my post of August 7, 2009: “Sipping from a Fire Hose”.

I wrote in that post about the inevitable need to manage the auction site differently as volume increases; to provide an efficient means to differentiate among classes of auctions.

I’ll pick up that topic and write the post I had planned on Sunday.

Today, however, I just want to report that we received payment this morning closing out our 100th auction!

We’ve now bought 125 auctions and 100 have been closed-out: all paid-as-agreed.

We’ve bought auctions from 33 Sellers including invoices of 64 Account Debtors.

The weighted average total days to close-out has been 43.

The weighted average actual duration (receiving multiple payments over the life of an auction decreases the average dollars-outstanding during the holding period) has been 35 days.

Weighted average net annualized return, after TRE fees and costs, has fallen slightly since last June, which was our first month as an active Buyer. But the decrease has been minimal: our monthly figures have varied within a range of only about 100 basis points.

That stability of return is more a reflection of our buying parameters than the overall Exchange activity, however.

We’ll address the increasingly-apparent “tiering” of the TRE pricing environment in another post.

But today—I just wanted to mark our 100th anniversary!

And, while I'm at it --- since the question recently came up in conversation --- over the course of closing-out 100 auctions there have been only two or three minor glitches in transaction reporting or the movement of funds. All of those were identified and corrected within one day by the TRE Member Services team, which does a great job.

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