Proxibid Breaks Auction Records in March and First Quarter

Proxibid announced record-breaking results for the month of March and the first quarter of 2009. The provider of live auction webcasting services said it experienced a 50 percent increase in the number of auctions hosted in March 2009, a 44 percent increase in the number of bidders participating over the number of bidders who participated online in March 2008, and a 40 percent increase in online sell-through percentage. For the quarter ending March 31, Proxibid realized 63% growth in the number of auctions and a 19% increase in the total sold online for the same period in 2008.

Proxibid enables auctioneers to webcast their auctions live online to a global audience, and provides bidders the ability to bid and win from the comfort of their personal computers. The company hosted its first live auction webcast in 2002 and has worked with more than 1,500 auctioneers to bring more than 18,000 auctions online.

Proxibid attributed its growth to the increase in farm and heavy equipment auctions as well as the rise in timed, online-only auctions. Another area for growth is real estate, which continues to expand as investors take advantage of the lowest interest rates seen in years.