Proxibid Sees Growth in Heavy Construction Equipment Online Sales

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% 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.

Proxibid works with more than 3,300 sellers and buyers from 190 countries to provide the world’s most trusted online marketplace for highly valued items. The company offers the most sophisticated risk management system in the industry, with a 0.15% non-pay rate no other provider can match. That, combined with Proxibid’s robust online platform, which ensures 99.9%+ uptime, makes it the safest place to buy and sell heavy construction equipment, industrial machinery, collector cars, antiques, real estate, and more.