EcommerceBytes-NewsFlash, Number 2909 - October 09, 2012     4 of 5

Shoppers Have New Source for Finding Jewelry

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Auction bidders looking for jewelry, gems and watches have a new resource thanks to Proxibid, a live-auction platform open to traditional auction houses. "Due to the growing demand for jewelry in the Proxibid Marketplace, our team is making it easier than ever for buyers to find what they're looking for," according to Proxibid spokesperson Dana Kaufman. The auction site will add "Jewelry, Gemstones & Watches" to its list of homepage primary categories.

Like Proxibid's other primary categories, the new category will feature its own dedicated landing page where buyers can find the latest Jewelry auctions on Proxibid.com. To make way for the new Jewelry category and to keep the number of primary categories at the current level, it will consolidate the "Computers & Accessories" and "Consumer Electronics" into one new category named Computers & Electronics.

Kaufman shared other news as well. Last week, Bruce Hoberman stepped away from his role as CEO to become Chairman of the Board and President Ryan Downs will take add the role of CEO to his duties.

The company also announced third-quarter earnings, stating it had its most successful September to-date and a record-breaking third quarter. Total revenue grew 59% in September 2012 over September 2011, and increased 34% for the quarter year-over-year. More than $2 billion in inventory passes through Proxibid's marketplace annually.

Kaufman said most growth could be attributed to its core auction business where it saw a dramatic increase in total Gross Merchandise Value (GMV) and online sell-through. "We are seeing strong growth in heavy equipment and machinery and commercial and industrial equipment as well as real estate. We continue to see growth in consumer categories as well, having added consumer electronics as a category during the third quarter."

She also said Proxibid is continuing to see increases in both buyers and sellers joining the marketplace. "We look for that to continue as we focus more on buyer and seller acquisition in the fourth quarter."


About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.


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