Leading test & measurement company called “pioneer” for innovative used equipment marketplace and industry’s first comprehensive equipment “blue book”
SAN BRUNO, CA, – November 9, 2004
Frost & Sullivan has awarded TestMart the 2004 Customer Service Innovation Award in the North American Used Test Equipment Market for the new TestMart SellDirect™ marketplace. TestMart, Inc., the leading marketplace operator and service provider for the new and used test & measurement industry, operates the TestMart SellDirect™ online marketplace and the TestMart Price Guide™. Frost & Sullivan is a global research firm, whose industry experts present awards to companies demonstrating “excellence in customer service innovation within their industry.”
The Award notes TestMart SellDirect™ offers sellers free listings, direct access to buyers, full privacy and fast payment. Buyers are protected by a guaranteed right-of-return and independent escrow account. The TestMart Price Guide™, the industry’s first comprehensive equipment “blue book,” helps both groups by clarifying historically unreliable pricing methods and diminishing the power of middlemen.
“TestMart, which pioneered this concept, has created a paradigm shift in the used equipment marketplace by removing anomalies in the pricing of used test equipment sales with their “blue book” and offering direct access between sellers and buyers,” said Frost & Sullivan Industry Analyst, Muthu Kumar.
“It’s terrific to be acknowledged for our work to create a marketplace where for the first time in the industry’s history, buyers and sellers can easily find one another and avoid costly mark-ups and listing charges,” said Peter Ostrow, TestMart President and CEO.
Several TestMart SellDirect™ strategic accomplishments were highlighted:
Creation of one of the largest databases with normalized product information using a proprietary algorithm and integration with an e-commerce portal for used equipment.
Aggregation of the largest supply of used equipment from sources that include real prices and real quantities and sources that accurately reported the true end condition of the equipment and offer a dependable product.
Removing or lowering the power of the intermediary in the used test equipment marketplace.