Table: Net Liquidation

A lot of dot-com shareholders and executives are hoping to salvage something from their failed companies. But as these early examples suggest, the assets of such businesses typically fetch bargain-basement prices.

Peak Estimated Proceeds COMPANY NAME Market Cap From Asset Sale

eToys $10.1 billion $20 million

The toy e-tailer sold its BabyCenter unit to Johnson & Johnson for $10 million and auctioned off equipment for $1.2 million. KB Toys bought most of its leftover inventory for $5.4 million, a bargain considering that's only 25% of its cost.

Garden.com $364.3 million $6 million

Wal-Mart bought the content for $2 million, and 125-year-old gardening retailer W. Atlee Burpee & Co. snagged the name and customer list for $2.4 million. What's left? A small amount of inventory and incidentals like computers--all of which is unlikely to fetch much more than 30 cents on the dollar.

NorthPoint Communications $5.6 billion $135 million

AT&T bought the bankrupt DSL provider's entire nationwide system, which provided DSL service in 57 markets. Says a spokesman for AT&T: "We were very happy with the price." No kidding. Analysts said NorthPoint's equip- ment alone was worth at least $300 million.

Pets.com $325.5 million $6 million

Petsmart bought Pets.com's Web address for $375,000. Closeout retailer Tuesday Morning Corp. bought $6 million worth of Kibbles and sock-puppet mascots for an undisclosed amount that was probably no more than 30 cents on the dollar.

Data: Standard & Poor's, company reports

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