Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
GROSS PATRICK W
   2. Issuer Name and Ticker or Trading Symbol
LIQUIDITY SERVICES INC [LQDT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O LIQUIDITY SERVICES, INC., 1920 L STREET, N.W., 6TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
03/30/2012
(Street)

WASHINGTON, DC 20036		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/30/2012   S(1)   30,000 D $ 44.4 20,000 I By wife
Common Stock 04/02/2012   S(1)   20,000 D $ 43.4 0 I By wife
Common Stock               5,200 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option $ 12.89               (2) 04/03/2016 Common Stock 20,000   20,000 D  
Employee Stock Option $ 14.75               (3) 10/02/2016 Common Stock 11,271   11,271 D  
Employee Stock Option $ 11.19               (4) 10/01/2017 Common Stock 10,272   10,272 D  
Employee Stock Option $ 11.66               (5) 06/03/2018 Common Stock 15,082   15,082 D  
Employee Stock Option $ 8.55               (6) 04/28/2019 Common Stock 21,086   21,086 D  
Employee Stock Option $ 10.7               (7) 02/01/2020 Common Stock 18,612   18,612 D  
Employee Stock Option $ 14.3               (8) 02/01/2021 Common Stock 15,012   15,012 D  
Employee Stock Option $ 42.31               (9) 02/01/2022 Common Stock 5,328   5,328 D  
Restricted Stock Grant $ 42.31               (10) 02/01/2022 Common Stock 851   851 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GROSS PATRICK W
C/O LIQUIDITY SERVICES, INC.
1920 L STREET, N.W., 6TH FLOOR
WASHINGTON, DC 20036		   X      

Signatures

 /s/ James E. Williams, by power of attorney   04/03/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 1, 2012.
(2) These options became fully vested on April 3, 2008.
(3) These options became fully vested on October 2, 2007.
(4) These options became fully vested on October 1, 2008.
(5) These options became fully vested on June 3, 2009.
(6) These options became fully vested on February 18, 2010.
(7) These options became fully vested on February 1, 2011.
(8) These options became fully vested on February 1, 2012.
(9) These options have a one-year vesting period such that 100% of the option grant will vest on February 1, 2013.
(10) These restricted shares have a one-year vesting period such that 100% of the restricted share grant will vest on February 1, 2013.

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