Record-Breaking March, Robust Q1 Results Set Proxibid in Motion for Successful 2016

OMAHA, Neb.–(BUSINESS WIRE)–#Q1results–Proxibid (www.proxibid.com),
the world’s most trusted way to connect buyers and sellers of highly
valued items, today 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 percent 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.

“Since 2011, Proxibid has been an integral part of our business
strategy,” said Mike McKee, President and Chief Auctioneer of TNT
Auctions Inc. “We partnered with Proxibid because we believe in working
with world-class companies to provide the best services to our buyers.
Proxibid offers the most advanced, secure online bidding solution in the
industry and the marketing capabilities to attract qualified buyers from
across the globe, enabling us to grow our company from a regional
business to an international competitor.”

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 percent non-pay rate no
other provider can match. That, combined with Proxibid’s robust online
platform, which ensures 99.9+ percent uptime, makes it the safest place
to buy and sell heavy construction equipment, industrial machinery,
collector cars, antiques, real estate, and more.

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About Proxibid
Proxibid provides auction companies and asset
owners with access to the most trusted way to buy and sell highly valued
items online. More than $4 billion in inventory passes through
Proxibid’s Marketplace annually via live and timed auctions,
and Buy Now and Make Offer capabilities, across 15 categories that
include heavy equipment; industrial machinery; real estate; fine art;
antiques and collectibles, and more.

Founded in 2001, Proxibid is headquartered in Omaha, NE with offices in
South Sioux City, NE and London. For more information about Proxibid,
please visit www.proxibid.com.

Contacts

Proxibid
Dana Kaufman, 402-505-7776
Dana.Kaufman@Proxibid.com