Document and Entity Information	9 Months Ended
Document and Entity Information	Jun. 30, 2012	Aug. 01, 2012
Document and Entity Information
Entity Registrant Name	LIQUIDITY SERVICES INC
Entity Central Index Key	0001235468
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		30,997,488
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Sep. 30, 2011
Current assets:
Cash and cash equivalents	$ 84,625	$ 128,984
Accounts receivable, net of allowance for doubtful accounts of $810 and $514 at June 30, 2012 and September 30, 2011, respectively	12,090	6,049
Inventory	26,415	15,065
Prepaid and deferred taxes	15,336	16,073
Prepaid expenses and other current assets	5,613	4,805
Current assets of discontinued operations	44	277
Total current assets	144,123	171,253
Property and equipment, net	7,166	7,042
Intangible assets, net	31,751	2,993
Goodwill	150,766	40,549
Other assets	5,754	5,970
Total assets	339,560	227,807
Current liabilities:
Accounts payable	5,540	8,590
Accrued expenses and other current liabilities	29,722	23,411
Profit-sharing distributions payable	2,938	7,267
Current portion of acquisition earn out payables	8,269	5,410
Customer payables	12,561	12,728
Current portion of note payable	9,500
Current liabilities of discontinued operations	266	2,160
Total current liabilities	68,796	59,566
Acquisition earn out payables		4,741
Note payable, net of current portion	32,000
Deferred taxes and other long-term liabilities	2,215	2,087
Total liabilities	103,011	66,394
Stockholders' equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 31,461,715 shares issued and 30,956,648 shares outstanding at June 30, 2012; 31,192,608 shares issued and 29,030,552 shares outstanding at September 30, 2011	31	29
Additional paid-in capital	165,405	124,886
Treasury stock, at cost	(29,999)	(21,884)
Accumulated other comprehensive income	31	52
Retained earnings	101,081	58,330
Total stockholders' equity	236,549	161,413
Total liabilities and stockholders' equity	$ 339,560	$ 227,807

Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2012	Sep. 30, 2011
Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 810	$ 514
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	31,461,715	31,192,608
Common stock, shares outstanding	30,956,648	29,030,552

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References+ Details

Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenue	$ 105,601	$ 75,163	$ 313,405	$ 226,770
Fee revenue	15,672	8,147	39,624	21,403
Total revenue from continuing operations	121,273	83,310	353,029	248,173
Costs and expenses from continuing operations:
Cost of goods sold (excluding amortization)	49,187	31,767	147,497	100,955
Profit-sharing distributions	10,245	12,324	34,117	34,529
Technology and operations	15,943	12,867	47,528	38,939
Sales and marketing	7,364	5,571	20,809	17,286
General and administrative	8,639	6,579	24,672	19,658
Amortization of contract intangibles	2,020	203	6,059	610
Depreciation and amortization	1,477	1,300	4,508	3,540
Acquisition costs, net	1,109	246	(5,562)	4,941
Total costs and expenses	95,984	70,857	279,628	220,458
Income from continuing operations	25,289	12,453	73,401	27,715
Interest expense and other expense, net	(517)	(274)	(1,625)	(787)
Income before provision for income taxes from continuing operations	24,772	12,179	71,776	26,928
Provision for income taxes	(9,909)	(5,616)	(29,025)	(12,059)
Income from continuing operations	14,863	6,563	42,751	14,869
Loss from discontinued operations, net of tax		(7,620)		(9,483)
Net income (loss)	$ 14,863	$ (1,057)	$ 42,751	$ 5,386
Basic earnings (loss) per common share:
From continuing operations (in dollars per share)	$ 0.48	$ 0.23	$ 1.39	$ 0.54
From discontinued operations (in dollars per share)		$ (0.27)		$ (0.34)
Basic earnings (loss) per common share (in dollars per share)	$ 0.48	$ (0.04)	$ 1.39	$ 0.20
Diluted earnings (loss) per common share:
From continuing operations (in dollars per share)	$ 0.45	$ 0.22	$ 1.30	$ 0.52
From discontinued operations (in dollars per share)		$ (0.26)		$ (0.33)
Diluted earnings (loss) per common share (in dollars per share)	$ 0.45	$ (0.04)	$ 1.30	$ 0.19
Basic weighted average shares outstanding (in shares)	31,140,261	27,928,750	30,791,297	27,478,342
Diluted weighted average shares outstanding (in shares)	33,183,165	29,440,811	32,781,370	28,600,098

Consolidated Statement of Changes in Stockholders' Equity (USD $) In Thousands, except Share data, unless otherwise specified	Total	Treasury Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings
Balance at Sep. 30, 2011	$ 161,413	$ (21,884)	$ 29	$ 124,886	$ 52	$ 58,330
Balance (in shares) at Sep. 30, 2011	29,030,552	(2,162,056)	31,192,608
Increase (Decrease) in Stockholders' Equity
Common stock repurchased	(29,999)	(29,999)
Common stock repurchased (in shares)		(505,067)
Common stock retired		21,884		(21,884)
Common stock retired (in shares)		2,162,056	(2,162,056)
Exercise of common stock options and restricted stock	14,022		1	14,021
Exercise of common stock options and restricted stock (in shares)			1,530,992
Stock consideration paid for acquisition	24,539		1	24,538
Stock consideration paid for acquisition (in shares)			900,171
Compensation expense and incremental tax benefit from common stock options and restricted stock	23,844			23,844
Comprehensive income:
Net income	42,751					42,751
Foreign currency translation and other	(21)				(21)
Balance at Jun. 30, 2012	$ 236,549	$ (29,999)	$ 31	$ 165,405	$ 31	$ 101,081
Balance (in shares) at Jun. 30, 2012	30,956,648	(505,067)	31,461,715

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Operating activities
Net income	$ 42,751	$ 5,386
Less: Discontinued operations, net of tax		(9,483)
Income from continuing operations	42,751	14,869
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:
Depreciation and amortization	10,567	4,150
Stock compensation expense	8,655	6,749
Provision for inventory allowance	(776)	51
Provision (benefit) for doubtful accounts	(217)	130
Incremental tax benefit from exercise of common stock options	(15,188)	(2,449)
Changes in operating assets and liabilities:
Accounts receivable	(1,114)	(4,003)
Inventory	(4,515)	1,301
Prepaid expenses and other assets	13,400	7,220
Accounts payable	(6,239)	288
Accrued expenses and other	6,764	(5,003)
Profit-sharing distributions payable	(4,329)	(238)
Customer payables	(167)	3,553
Acquisition earn out payables	(10,068)	2,195
Other liabilities	128	21
Net cash provided by operating activities from continuing operations	39,652	28,834
Net cash used in operating activities from discontinued operations	(381)	(334)
Net cash provided by operating activities	39,271	28,500
Investing activities
Purchases of short-term investments		(8,830)
Proceeds from the sale of short-term investments		31,420
Cash paid for acquisitions and increase in goodwill and intangibles	(80,063)	(9,030)
Purchases of property and equipment	(2,828)	(4,399)
Net cash (used in) provided by investing activities	(82,891)	9,161
Financing activities
Repurchases of common stock	(29,999)	(3,541)
Proceeds from exercise of common stock options (net of tax)	14,022	13,051
Incremental tax benefit from exercise of common stock options	15,188	2,449
Net cash (used in) provided by financing activities	(789)	11,959
Effect of exchange rate differences on cash and cash equivalents	(21)	514
Net (decrease) increase in cash and cash equivalents	(44,430)	50,134
Cash and cash equivalents at beginning of period	129,089	43,378
Less: Cash and cash equivalents of discontinued operations at end of period	34	511
Cash and cash equivalents at end of period	84,625	93,001
Supplemental disclosure of cash flow information
Cash paid for income taxes	11,761	6,233
Cash paid for interest	52	47
Note payable issued in connection with acquisition	40,000
Contingent purchase price accrued	$ 1,196	$ 4,695

Organization

9 Months Ended

Jun. 30, 2012

Organization

Organization

1. Organization

Liquidity Services, Inc. and subsidiaries (LSI or the Company) operates leading auction marketplaces for surplus and salvage assets. LSI enables buyers and sellers to transact in an efficient, automated online auction environment offering over 500 product categories. The Company’s marketplaces provide professional buyers access to a global, organized supply of surplus and salvage assets presented with digital images and other relevant product information. Additionally, LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI organizes its products into categories across major industry verticals such as consumer electronics, general merchandise, apparel, scientific equipment, aerospace parts and equipment, technology hardware, energy equipment, industrial capital assets, fleet and transportation equipment and specialty equipment. The Company’s marketplaces are www.liquidation.com, www.govliquidation.com, www.govdeals.com, www.networkintl.com, www.truckcenter.com, www.secondipity.com, and www.go-dove.com. LSI has one reportable segment consisting of operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets.

Organization (Details)	9 Months Ended
Organization (Details)	Jun. 30, 2012 segment productcategory
Organization
Product categories offered, number	500
Reportable segment, number	1

Summary of Significant Accounting Policies (Details 2) (Stock options)	3 Months Ended	9 Months Ended
	Jun. 30, 2011	Jun. 30, 2011
Stock options
Stock options excluded from the calculation of diluted income per share
Stock options excluded from the calculation of diluted income per share (in shares)	11,500	11,500

Acquisition (Details) (USD $)		3 Months Ended	9 Months Ended						1 Months Ended		1 Months Ended
Acquisition (Details) (USD $)	Jun. 30, 2012 Subordinated unsecured note	Jun. 30, 2011 Jacobs Trading, LLC	Jun. 30, 2012 Jacobs Trading, LLC	Jun. 30, 2011 Jacobs Trading, LLC	Oct. 02, 2011 Jacobs Trading, LLC	Oct. 02, 2011 Jacobs Trading, LLC Contract intangibles	Oct. 02, 2011 Jacobs Trading, LLC Covenants not to compete	Oct. 02, 2011 Jacobs Trading, LLC Subordinated unsecured note	Oct. 31, 2011 Jacobs Trading, LLC Restricted shares	Oct. 02, 2011 Jacobs Trading, LLC Restricted shares	Jun. 30, 2011 TC	Jun. 30, 2012 TC	Mar. 31, 2012 TC	Jun. 01, 2011 TC
Jacobs Trading Acquisition
Upfront cash payment					$ 80,000,000									$ 9,000,000
Restricted stock issued (in shares)									900,171
Stock consideration										24,500,000
Discount rate (as a percent)									15.00%
Period from the acquisition date during which stock is not freely tradable									6 months
Fixed interest rate (as a percent)	5.00%							5.00%
Face amount of debt issued upon acquisition								40,000,000
Estimate of the fair value of the earn-out			8,300,000											6,989,000
Possible total earn out payment			30,000,000											9,000,000
Acquisition costs			300,000
Consideration Amount
Accounts receivable					4,710,000
Inventory					6,059,000
Prepaid expenses					120,000
Goodwill					110,226,000
Intangible assets						33,300,000	2,400,000
Property and equipment					847,000
Accounts payable					(1,837,000)
Accrued liabilities					(3,101,000)
Total consideration					152,724,000									15,989,000
Amount of revenue related to the acquired business included in the consolidated statement of operations since the date of acquisition			71,600,000
Number of 12 month periods after the closing date of the acquisition of which the revenue is considered for calculation of earn-out											2 years
Earn-out liability reversed due to revised projections												6,989,000	6,989,000
Pro forma revenue		102,200,000		304,300,000
EBITDA		$ 18,000,000		$ 45,100,000

Summary of Discontinued Operations (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended
	Jun. 30, 2011	Jun. 30, 2011
Components of discontinued operations
Loss from discontinued operations	$ (7,620)	$ (9,483)
Liquidity Services Ltd, (LSL)
Components of discontinued operations
Revenue	2,748	8,499
Expenses	10,556	18,328
Depreciation and amortization	91	392
Interest income	(279)	(738)
Loss from discontinued operations	$ (7,620)	$ (9,483)

Goodwill (Details) (USD $)	9 Months Ended	12 Months Ended
Goodwill (Details) (USD $)	Jun. 30, 2012	Sep. 30, 2011
Goodwill
Balance at the beginning of the period	$ 40,549,000	$ 39,831,000
New acquisitions	110,226,000	14,167,000
Other adjustments	(9,000)
Balance at the end of the period	150,766,000	40,549,000
Accumulated impairment losses		$ 13,400,000

Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified					9 Months Ended				9 Months Ended				9 Months Ended				9 Months Ended
	Jun. 30, 2012	Sep. 30, 2011	Jun. 30, 2012 Contract intangibles	Sep. 30, 2011 Contract intangibles	Jun. 30, 2012 Contract intangibles Minimum	Jun. 30, 2012 Contract intangibles Maximum	Jun. 30, 2012 Brand and technology	Sep. 30, 2011 Brand and technology	Jun. 30, 2012 Brand and technology Minimum	Jun. 30, 2012 Brand and technology Maximum	Jun. 30, 2012 Covenants not to compete	Sep. 30, 2011 Covenants not to compete	Jun. 30, 2012 Covenants not to compete Minimum	Jun. 30, 2012 Covenants not to compete Maximum	Jun. 30, 2012 Patent and trademarks	Sep. 30, 2011 Patent and trademarks	Jun. 30, 2012 Patent and trademarks Minimum	Jun. 30, 2012 Patent and trademarks Maximum
Intangible assets
Useful Life (in years)					5 years	7 years			3 years	5 years			3 years	5 years			3 years	10 years
Gross Carrying Amount			$ 38,994	$ 5,694			$ 1,448	$ 1,447			$ 4,400	$ 2,500			$ 367	$ 289
Accumulated Amortization			(11,075)	(5,016)			(707)	(490)			(1,550)	(1,336)			(125)	(95)
Net Carrying Amount	31,751	2,993	27,919	678			741	957			2,850	1,164			241	194
Future expected amortization of intangible assets
2012 (remaining six months)	2,187
2013	8,226
2014	8,055
2015	8,050
2016 and after	5,233
Net Carrying Amount	$ 31,751	$ 2,993	$ 27,919	$ 678			$ 741	$ 957			$ 2,850	$ 1,164			$ 241	$ 194

Debt (Details) (USD $)	1 Months Ended	9 Months Ended
Debt (Details) (USD $)	Apr. 30, 2010	Jun. 30, 2012	Mar. 13, 2012
Senior Credit Facility
Debt
Term (in years)	3 years
Maximum borrowings	$ 30,000,000		$ 75,000,000
Interest rate basis		30 day LIBOR
Percentage added to reference rate		1.25%
Interest rate at period end (as a percent)		1.493%
Subordinated unsecured note
Debt
Principal amount of debt issued		40,000,000
Interest rate (as a percent)		5.00%
Due on October 1, 2012		8,000,000
Due on October 1, 2013		12,000,000
Due on October 1, 2014		$ 20,000,000

Income Taxes (Details)	Jun. 30, 2012 item
Income Taxes
Estimated effective tax rate (as a percent)	40.00%
Number of jurisdictions under which Company is subject to tax examination	1

Stockholders' Equity (Details) (USD $)	1 Months Ended					3 Months Ended	9 Months Ended	12 Months Ended
Stockholders' Equity (Details) (USD $)	May 31, 2012	May 31, 2011	Nov. 30, 2010	Feb. 28, 2010	Dec. 31, 2008	Jun. 30, 2012	Jun. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
Stockholders' Equity
Share repurchase program approved amount					$ 10,000,000
Additional amount authorized under share repurchase program	30,000,000	10,000,000	10,000,000	10,000,000
Shares purchased						505,067		229,575	1,225,019	707,462
Shares purchased amount						30,000,000		3,541,000	14,471,000	3,874,000
Amount yet to be expended under the program							$ 18,114,000

Stockholders' Equity (Details 2) (USD $)	1 Months Ended					9 Months Ended		3 Months Ended			9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	3 Months Ended			9 Months Ended	12 Months Ended	9 Months Ended					9 Months Ended
Stockholders' Equity (Details 2) (USD $)	Feb. 28, 2009	Jun. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Dec. 31, 2006	Jun. 30, 2012 Maximum	Jun. 30, 2012 Minimum	Jun. 30, 2012 Options	Mar. 31, 2012 Options	Dec. 31, 2011 Options	Jun. 30, 2012 Options	Sep. 30, 2011 Options	Jun. 30, 2012 Options Maximum	Sep. 30, 2011 Options Maximum	Jun. 30, 2012 Options Minimum	Sep. 30, 2011 Options Minimum	Jun. 30, 2012 Restricted shares	Mar. 31, 2012 Restricted shares	Dec. 31, 2011 Restricted shares	Jun. 30, 2012 Restricted shares	Sep. 30, 2011 Restricted shares	Jun. 30, 2012 Restricted shares Non-employee	Jun. 30, 2012 Restricted shares Maximum	Sep. 30, 2011 Restricted shares Maximum	Jun. 30, 2012 Restricted shares Minimum	Sep. 30, 2011 Restricted shares Minimum	Jun. 30, 2012 Options or stock appreciation rights	Jun. 30, 2012 Other than options or stock appreciation rights
2006 Omnibus Long-Term Incentive Plan (the 2006 Plan)
Shares initially reserved for issuance					5,000,000
Increase in shares available for issuance	5,000,000
Remaining shares reserved for issuance		2,536,235	3,152,804	3,986,513
Maximum number of shares awarded per person per year																											1,000,000	700,000
Shares and options vesting period (in years)						4 years	1 year
Exercise price																							$ 52.55	$ 25.52	$ 31.37	$ 12.88
Stock option activity
Options outstanding at the beginning of the period (in shares)								2,224,392	2,686,766	2,894,547	2,894,547	4,747,289
Options granted (in shares)									31,968	149,815	181,783	321,072
Options exercised (in shares)								(357,748)	(489,943)	(352,473)		(2,100,223)
Options cancelled (in shares)								(54,674)	(4,399)	(5,123)	(64,196)	(73,591)
Options outstanding at the end of the period (in shares)								1,811,970	2,224,392	2,686,766	1,811,970	2,894,547
Options exercisable at the end of the period (in shares)								852,820			852,820
Weighted-Average Exercise Price
Options outstanding at the beginning of the period (in dollars per share)								$ 13.30	$ 12.75	$ 11.55	$ 11.55	$ 11.20
Options granted (in dollars per share)									$ 42.31	$ 32.73		$ 15.21	$ 42.31	$ 17.02	$ 31.37	$ 14.30
Options exercised (in dollars per share)								$ 11.38	$ 12.13	$ 11.38		$ 11.26
Options cancelled (in dollars per share)								$ 12.93	$ 15.91	$ 13.37		$ 13.18
Options outstanding at the end of the period (in dollars per share)								$ 13.69	$ 13.30	$ 12.75	$ 13.69	$ 11.55
Options exercisable at the end of the period (in dollars per share)								$ 12.13			$ 12.13
Weighted average remaining contractual life in years of outstanding options											6 years 9 months
Intrinsic value
Intrinsic value of outstanding shares								$ 67,923,000			$ 67,923,000
Intrinsic value of exercisable options								33,300,000			33,300,000
Stock price (in dollars per share)								$ 51.18			$ 51.18						$ 51.18			$ 51.18
Weighted average remaining contractual life in years of exercisable options											6 years 1 month 13 days
Fair value assumptions
Volatility rate, minimum (as a percent)											60.35%
Volatility rate, maximum (as a percent)											71.27%
Risk free interest rate, minimum (as a percent)											0.26%
Risk free interest rate, maximum (as a percent)											2.04%
Forfeiture rate (as a percent)													19.63%		15.38%
Restricted share activity
Unvested restricted shares at the beginning of the period																	1,473,892	1,497,596	1,294,082	1,294,082	973,167
Restricted shares granted																	50,657	19,524	539,705	609,886	736,340	100,000
Restricted shares vested																	(22,775)	(22,298)	(285,755)		(265,313)
Restricted shares cancelled																	(39,538)	(20,930)	(50,436)	(110,904)	(150,112)
Unvested restricted shares at the end of the period																	1,462,236	1,473,892	1,497,596	1,462,236	1,294,082
Weighted-Average Fair Value
Unvested restricted shares at the beginning of the period (in dollars per share)																	$ 20.52	$ 20.18	$ 13.13	$ 13.13	$ 9.73
Restricted shares granted (in dollars per share)																	$ 52.55	$ 37.30	$ 31.84		$ 16.20
Restricted shares vested (in dollars per share)																	$ 14.59	$ 14.17	$ 11.76		$ 9.77
Restricted shares cancelled (in dollars per share)																	$ 17.94	$ 19.23	$ 11.34		$ 12.06
Unvested restricted shares at the end of the period (in dollars per share)																	$ 21.80	$ 20.52	$ 20.18	$ 21.80	$ 13.13
Intrinsic value																	$ 74,837,000			$ 74,837,000
Stock price (in dollars per share)								$ 51.18			$ 51.18						$ 51.18			$ 51.18
Weighted average remaining contractual life in years																				8 years 6 months 7 days

Fair Value Measurement (Details) (USD $)	Jun. 30, 2012	Sep. 30, 2011
Jacobs Trading, LLC
Fair value measurement
Acquisition contingent consideration	$ 8,300,000
Recurring basis \| Level 3 \| Jacobs Trading, LLC
Fair value measurement
Acquisition contingent consideration	8,269,000	10,151,000
Recurring basis \| Level 3 \| Network International
Fair value measurement
Acquisition contingent consideration		3,162,000
Recurring basis \| Level 3 \| TruckCenter.com
Fair value measurement
Acquisition contingent consideration		$ 6,989,000

Fair Value Measurement (Details 2) (Contingent consideration, USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Jun. 30, 2012	Sep. 30, 2011
Changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value
Balance at the beginning of the period	$ 10,151	$ 2,805
Acquisition contingent consideration	8,269	11,684
Settlements	(3,162)	(4,338)
Unrealized (gains)/losses, net	(6,989)
Balance at the end of the period	$ 8,269	$ 10,151
Minimum
Changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value
Discount rate (as a percent)	2.00%
Maximum
Changes in liabilities measured at fair value for which the Company has used Level 3 inputs to determine fair value
Discount rate (as a percent)	9.70%

Subsequent Event (Details) (Acquisition, GoIndustry, USD $) In Millions, unless otherwise specified	Jul. 31, 2012 item
Acquisition \| GoIndustry
Subsequent Event
Share purchase price (in pence per share)	0.73
Aggregate value of shares	$ 11.4
Assumed indebtedness	19.6
Total consideration	$ 31.0
Number of countries in North America, Europe and Asia in which the entity operates	25