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 * FOWLER F DAVID   2. Issuer Name and Ticker or Trading Symbol LIQUIDITY SERVICES INC [LQDT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) Former Director (Last) (First) (Middle) C/O MICROSTRATEGY INC., 1861 INTERNATIONAL DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 02/16/2011 (Street) MCLEAN, VA 22102 4. If Amendment, Date Original Filed(Month/Day/Year) 02/18/2011 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 02/16/2011   M   10,000 A $ 12.89 25,757 D   Common Stock 02/16/2011   S   10,000 D $ 16.69 15,757 D   Common Stock 02/17/2011   M   10,000 A $ 12.89 25,757 D   Common Stock 02/17/2011   M   13,150 A $ 14.75 38,907 D   Common Stock 02/17/2011   M   15,082 A $ 11.66 53,989 D   Common Stock 02/17/2011   M(1)   5,753 A $ 10.7 59,742 D   Common Stock 02/17/2011   S   43,985 D $ 16.53 15,757 D   Common Stock 02/18/2011   M(2)   12,859 A $ 10.7 28,616 D   Common Stock 02/18/2011   M(2)   3,400 A $ 8.55 32,016 D   Common Stock 02/18/2011   S   16,259 D $ 16.16 15,757 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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	02/16/2011		M			10,000	(3)	04/03/2016	Common Stock	20,000	$ 12.89	10,000	D
Employee Stock Option	$ 12.89	02/17/2011		M			10,000	(3)	04/03/2016	Common Stock	10,000	$ 12.89	0	D
Employee Stock Option	$ 14.75	02/17/2011		M			13,150	(4)	10/02/2016	Common Stock	13,150	$ 14.75	0	D
Employee Stock Option	$ 11.66	02/17/2011		M			15,082	(5)	06/03/2018	Common Stock	15,082	$ 11.66	0	D
Employee Stock Option	$ 8.55	02/18/2011		M(2)			3,400	(6)	04/28/2019	Common Stock	21,086	$ 8.55	17,686	D
Employee Stock Option	$ 10.7	02/17/2011		M(1)			5,753	(7)	02/01/2020	Common Stock	18,612	$ 10.7	12,859	D
Employee Stock Option	$ 10.7	02/18/2011		M(2)			12,859	(7)	02/01/2020	Common Stock	12,859	$ 10.7	0	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
FOWLER F DAVID C/O MICROSTRATEGY INC. 1861 INTERNATIONAL DRIVE MCLEAN, VA 22102				Former Director

Signatures

/s/ James E. Williams, by power of attorney		04/07/2011
**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)	This transaction was originally reported as an exercise of $8.55 options in a Form 4 filed on February 18, 2011. This amendment is filed to reflect that the transaction was a conversion of Mr. Fowler's $10.70 options, and therefore the corrected price is $10.70.
(2)	As originally reported in a Form 4 filed on February 18, 2011, these transactions exercised all of Mr. Fowler's remaining $8.55 options before exercising a portion of his $10.70 options. This amendment is filed to reflect that these transactions fully exercised Mr. Fowler's $10.70 options and then exercised a portion of his $8.55 options.
(3)	These options became fully vested on April 3, 2008.
(4)	These options became fully vested on October 2, 2007.
(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.

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