Press release

New Product Development, Wavebid Acquisition Fuel Record Online Sales and Gross Merchandise Value for Proxibid in the First Quarter

Sponsored by Businesswire

the most trusted way to connect buyers and sellers of highly valued
items, today announced record online sales and Gross Merchandise Value
(GMV) for the first quarter ending March 31, 2109, capped by its
strongest online sales month in company history. Proxibid
also experienced the single largest GMV day in company history, which
boosted online sales results. In addition, increased product development
velocity, as well as new sales attributed to the acquisition of Wavebid
have positively impacted growth in the first quarter.

“Increased online sales in B2B categories like heavy equipment,
industrial machinery, and farm equipment, combined with growing online
sales in cornerstone B2C categories like collector cars, were paramount
to Proxibid’s growth in the first quarter,” said Ryan Downs, President
and CEO of Proxibid. “Additionally, the successful integration of
Wavebid’s suite of products, as well as new sales of seller tools in the
first quarter, combined with the release of new products and services
for our growing community of buyers and sellers, added momentum to the

Product development velocity increased in the first quarter as Proxibid
introduced new features that provide improved risk monitoring for
sellers, enhancements to Proxibid’s search tools, and the introduction
of private, or invitation-only auctions. Additional development work has
helped to propel Proxibid’s Powered By offering, generating new business
opportunities across multiple categories.

Leading sellers including Jeff Martin Auctioneers, J.J. Kane
Auctioneers, Royal Auction Group, Iowa Auction Group, Sullivan
Auctioneers, and Auction Solutions, Inc. have continued to grow online
sales in both live and timed auctions on Proxibid. Auctions continue to
prove an effective tool for businesses and individuals to move assets as
both buyers and sellers seek the most effective disposition methods and
true market values for their goods.

“Working with Proxibid has allowed us to grow our bidder base,
increasing reach to buyers located across the globe,” said Brandon Roy,
Auctioneer and Owner of Royal Auction Group. “By implementing best
practices and strategic marketing, we have continued to attract quality
bidders to our auctions. The results speak for themselves, with
year-over-year online sales increasing dramatically in the first quarter
alone. We look forward to continued success with Proxibid throughout
2019 and beyond.”

Proxibid offers the industry’s most trusted online platform, enabling
buyers and sellers to transact using four flexible sales methods: live
auction, timed auction, buy now, or make offer. Additionally, Proxibid’s
Powered By solution extends the company’s marketplace technology to
sellers’ websites, turning businesses into e-commerce powerhouses.
Proxibid offers inventory for sale across 16 categories, representing
all major inventory classes. Only Proxibid offers a sophisticated risk
management system and integrated payments solution, specifically
designed to ensure buyers and sellers are safe when making high dollar
transactions online.

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About Proxibid
Proxibid is the most trusted platform for
connecting buyers and sellers of highly valued items. Since 2001, more
than $45 billion in inventory has passed through Proxibid’s platform via
live and timed auctions and buy now | make offer transactions.
Proxibid’s Marketplace supports 16 categories including heavy equipment;
industrial machinery; real estate; fine art; antiques and collectibles,
and more.

Proxibid’s Powered By solution enables sellers to integrate Proxibid’s
marketplace technology into their websites, offering custom development
and more to bring ecommerce solutions to companies across the globe.

Founded in 2001, Proxibid is headquartered in Omaha, NE with offices in
London. For more information about Proxibid, please visit