Liquidity Services (LQDT) 10-K 2014 FY Annual report

EXHIBIT 21.1

SUBSIDIARIES OF LIQUIDITY SERVICES, INC.

The following is a list of subsidiaries of Liquidity Services, Inc., the names under which such subsidiaries do business, and the state or country in which each was organized as of November 21, 2014.  The list does not include subsidiaries which would not, if considered in the aggregate as a single subsidiary, constitute a significant subsidiary within the meaning of Item 601(b)(21)(ii) of Regulation S-K.

Company	Jurisdiction of Organization
Surplus Acquisition Venture, LLC	Delaware
Government Liquidation.com, LLC(1)	Delaware
Liquidity Services, LTD.	United Kingdom
DOD Surplus, LLC(2)	Delaware
GovDeals, Inc.	Delaware
Network International, Inc.	Delaware
SAV Services, LLC	Delaware
LSI Commercial Services, LLC	Delaware
TruckCenter.com, LLC	Delaware
Asset Recovery Division, LLC(3)	Delaware
Profar Acquisition Partners, LLC (Jacobs Trading, LLC)(4)	Delaware
JTC Prison Industries, LLC(5)	Minnesota
Liquidity Services Capital Assets Americas LLC(6)	Delaware
LSI Liquidity Services Canada Ltd.(7)	Canada

(1)Government Liquidations.com, LLC is a subsidiary of Surplus Acquisition Venture, LLC

(2)DOD Surplus is a subsidiary of Surplus Acquisition Venture, LLC

(3)Asset Recovery Division, LLC is a subsidiary of Surplus Acquisition Venture, LLC

(4)Profar Acquisition Partners, LLC (Jacobs Trading, LLC) is a subsidiary of Surplus Acquisition Venture, LLC

(5)JTC Prison Industries, LLC is a subsidiary of Profar Acquisition Partners, LLC (Jacobs Trading, LLC)

(6)Liquidity Services Capital Assets Americas LLC is a subsidiary of Surplus Acquisition Venture, LLC

(7)LSI Liquidity Services Canada Ltd. is a subsidiary of Liquidity Services, LTD.