OMAHA, Neb.--(BUSINESS WIRE)--Proxibid (www.proxibid.com), the most trusted online Marketplace for buying and selling highly valued items, today announced results for the first quarter, ending March 31, 2015. Fueled by record GMV (Gross Merchandise Value) and online sales, Proxibid recorded its highest quarterly revenue in company history and delivered a 60 percent increase over Q1 2014 revenue. While Proxibid experienced solid results across all categories, the company saw particular strength in heavy equipment, industrial machinery, and collector cars, as well as its reverse supply chain business.
“This quarter was very exciting for Proxibid, with both February and March bringing particularly strong results,” said Ryan Downs, President and CEO of Proxibid. “Name-brand auction companies continue to bring their inventory to the Proxibid Marketplace, which fuels our core business. At the same time, large asset owners allocate inventory to the Marketplace as they realize our best practices lead to maximized return on investment. That, combined with our growth in the UK, has helped to power growth for the company.”
Key partnership announcements with Keno Brothers and eBay, as well as an increased focus on the burgeoning collector car market, generated a great deal of awareness of and interest in Proxibid in the first quarter. Major brand names like GW McGrew Auction Co. and Leake Auction Company have already signed on to bring sales to the Proxibid Marketplace later this year as a result of these efforts.
“Since 2004, we have partnered with Proxibid because we believe in providing a superior online experience for buyers,” said CE Vaughan, President of Equify Auctions. “No other online provider is as committed to the overall success of our business. Proxibid is constantly working to enhance the online experience for both buyers and sellers, ensuring maximum returns. Proxibid is a valued partner in making our live auctions available on a global stage.”
With an industry-low non-pay rate of 0.15 percent, Proxibid provides the most sophisticated risk management system in the industry. That, combined with the company’s robust online platform that ensures 99.99+ percent uptime, makes the company uniquely qualified to securely manage transactions of highly valued items such as heavy construction equipment, industrial machinery, collector cars, antiques, real estate, and more.
Proxibid provides asset owners of all sizes and buyers with access to the world’s most trusted online marketplace and selling solutions for excess inventory. More than $3 billion in inventory passes through Proxibid’s marketplace annually in product categories that include heavy equipment; commercial and industrial equipment; real estate; fine art, antiques and collectibles and more.
Founded in 2001, Proxibid is headquartered in Omaha, NE with offices in New York and London. For more information about Proxibid, please visit www.proxibid.com.