Proxibid Announces Record-Breaking March, Robust Q1 Results

OMAHA, Nebraska (April 26, 2016) — Proxibid announced record-breaking results for March and strong overall results for the first quarter ending March 31, 2016. Energized by an increase in buyers and average online sales per event in Q1, Proxibid experienced record online sell-through in March 2016, with a 31.3 percent increase over online sell-through for the same period in 2015. Growth in the heavy construction equipment, industrial machinery and collector car categories added significant momentum to the business in the first quarter.

“Our first quarter results point to continued confidence in Proxibid’s platform as well as our strong ability to bring relevant assets to the Marketplace,” said Ryan Downs, president and CEO of Proxibid. “Despite challenging market conditions, we continue to experience strong growth in online sales and the percentage of goods sold online, highlighting our strategic value to buyers and sellers of highly valued goods.”

New high profile partnerships, including an exclusive agreement with Barrett-Jackson, added a heightened level of awareness and interest in Proxibid in the first quarter. Key brands like SOARR in the commercial truck category and The Finest Automobile Auctions in collector cars have already brought valuable inventory to the Marketplace, with sales booked through the remainder of the year. Additional support through Proxibid’s partnership with eBay brought continued visibility to Proxibid during this period.

“Since 2011, Proxibid has been an integral part of our business strategy,” said Mike McKee, president and chief auctioneer of TNT Auctions Inc. “We partnered with Proxibid because we believe in working with world-class companies to provide the best services to our buyers. Proxibid offers the most advanced, secure online bidding solution in the industry and the marketing capabilities to attract qualified buyers from across the globe, enabling us to grow our company from a regional business to an international competitor.”

For more information, visit Proxibid.