The Curve

The industry is in constant motion, and we’re moving quickly to stay ahead of the curve. We want to ensure you’re up-to-date with most recent Proxibid news…

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Business Update

The third quarter 2014 proved strong for Proxibid with a 27 percent increase in events over the number of events hosted in the third quarter of 2013. Total inventory represented in the Marketplace increased 33 percent in the third quarter 2014 over the same period in 2013. The company expects the upward trajectory to continue as we head into the fourth quarter.

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New Features

Proxibid has introduced the following new features, enhancing both the AuctionBuilder and Proxibid website experience. Along with the featured improvements, our team was able to correct or improve 35 additional features to improve the user experience for both sellers and buyers.

  Enhanced Search Editor Tool

Make your items easier to find by using our Enhanced Search Editor Tool.  This tool places your items in the correct sub-category, immediately making them more visible to the buyers. In this release, we’ve made this tool more effective by requiring an initial sub-category selection. Check out this tool next time you load your catalog and raise your items to the top of the search.

  Example: Authentic Louis Vuitton Handbag > Estate & Personal Property > Clothing & Accessories

  Category Name Change

We’ve made a category name change to better meet the needs of our industrial sellers. The “Commercial & Industrial” category has been renamed “Industrial Machinery & Equipment.” This is a name change only!

Bidder’s phone number improvement

Previously, when viewing accepted, declined, or pending bidders for an auction, only the primary “phone #” would appear (as entered in the Bidder’s profile). If no number was there, “N/A” would appear:

Now, you’ll see the mobile phone number appear if there is no primary (home) number listed, and the 2nd phone number listed if neither the home nor mobile number is not listed. 

  A Black Flagged Buyer cannot leave seller feedback 

At Proxibid, we are committed to providing you with the best feedback opportunities. Therefore, if a buyer has been black flagged, they will not be given the link and opportunity to rate their buying experience or to leave seller feedback. 

  Proxibid.com Features & Improvements

Are you a member of IAA (Industrial Auctioneers Association)?

If so, contact your account manager and they will make sure you receive our latest seller badge!

  Changes to the Proxibid Unified User Agreement

The User Agreement has been updated to include clarification regarding Prohibited Items. You will see the updates under Section 4.3(e) of the new agreement. 

  (e) Prohibited Items. The following types of items may not be listed through any Auction Event: (1) drugs and drug paraphernalia, including any medical drug claims about an item; (2) items made from certain animals, including, but not limited to those animals deemed endangered or threatened under the US Endangered Species Act; (3) ivory or bones from ivory-producing animals such as whales or elephants (except for qualifying authentic artifacts determined by both state and federal law); (4) human remains or body parts; (5) hazardous materials (for example: materials that are flammable, explosive, corrosive, poisonous, etc.); (6) illegal, counterfeit, or stolen items; and (7) Items or listings that promote or support illegal activity or instruct others to engage in illegal activity.

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Concerned About Security Breaches? Stay Safe Online with Proxibid

We’re hearing from many sellers who are overwhelmed by the seemingly constant news of security breaches at popular companies like Target, Home Depot and, the very latest, Dairy Queen. It has many questioning whether they are putting themselves or their buyers at risk when selling online.

This can be a concerning topic but we are able to share good news. Proxibid’s commitment to providing the most trusted online Marketplace isn’t just lip service. Our risk management system was built by some of the foremost experts in online safety. As always, if you have questions about online safety or risk management, speak with your account manager or give our risk experts a call.

  And check out these resources that provide more information about staying safe when selling online.

 >> Top Tips for Selling Online: A list of the top tips for staying safe when selling online.

  >> The Value of Integrated Payments: An overview that explains why working with an integrated payment solution is so critical in today’s online environment.

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From the Desk of Pat Nguyen, Director of Customer Experience

If it seems like I am writing a lot about shipping terms and item descriptions, it’s because the majority of feedback we receive from buyers centers around these two important parts of the online buying and selling experience. Keeping buyer feedback top-of-mind, and responding to this feedback, will lead to increased buyer participation―and repeat participation―in your sales. And remember, buyers often turn into consignors as they look to auction companies to sell their excess items.

  What are buyers telling us about shipping and item descriptions?

“I think that after I found out what sellers used a less expensive way to ship or handled the shipping in house I really started to enjoy using Proxibid as my main auction site. In this regard I would recommend Proxibid to others.”

“Info for shipping items that are purchased are somewhat confusing. You don’t know if you are getting the best shipping price. You have to consider shipping charges in your bidding.”

“Easy to use and a great service!  I am very happy with my purchase. Disappointing how much shipping cost vs. how long it took to receive my items.”

“The process works well; I do feel quite confident that Proxibid is a safe way to purchase - the biggest concern becomes the integrity of the auction companies. Sometimes shipping can be way too expensive, but not well described in the auction terms. Some companies do a good job of describing all costs to be expected with a winning bid; some don't.”

 “My biggest pet peeve is that auction companies typically treat item descriptions as optional. I think this should be mandatory for those of us who bid online. I'd particularly like to see disclosures on any damage. A recent linen purchase turned out pretty badly for me with one-third of the items arriving in such poor condition, they needed to be discarded.”

“Again, if your clients could post several detailed views and better descriptions and condition reports of their items, sales would increase from all buyer categories. Especially with “high end” items. It's a financial risk to buy anything online. Yet we continue. Depends on how great the need is and how rare an item as to what we'll risk financially. Many times I say to myself or another buyer “best not take the risk” if there is any question on an items condition.”

“This is my first experience with your auction. A suggestion to better a price on equipment, cars, trucks, anything of higher value might be to include more pictures, and a more thorough evaluation of the specific piece of equipment. I would have run the bid up on the 98 GMC pickup w/snow plow had I just known a little more about it. When you're 1,000 miles away all you can rely on is that picture. Sometimes that picture just was not descriptive enough. I as a rule, do not buy used equipment in the Midwest due primarily to the rust issue, but that truck did not look too bad from the one picture supplied.”

  Do you need assistance with shipping or catalog descriptions? Check out the best practices listed here, or contact an account manager for assistance.

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From the Desk of Cassius Almeida, Director of Product & Risk Management

As most sellers in our Marketplace know, non-paying buyers (NPBs) are a reality of doing business in any online marketplace. At Proxibid we do everything possible to minimize the number of NPBs by using MarketGuard’s sophisticated internal and third-party tools. When a non-pay does occur, we have two teams managing the escalation process to ensure that every channel is explored to recover those funds on behalf of our sellers. In fact, those teams recovered more than $10 million for our sellers in the third quarter 2014 alone.

  We want to assure our sellers that we are effectively managing the NPB process. Keep in mind that many other providers have no true risk management system, despite their claims. We know that some competitors have NPB rates as high as 30 percent, and none can touch our industry-leading non-pay rates, which continue to drop. In Q3 2014 the number of NPB cases dropped further as compared to the previous quarter, and to the same quarter in 2013. During that same period, Proxibid saw substantial GMV increases, meaning more sellers are bringing more inventory into the Marketplace. We are working hard every day for our sellers and will continue to make improvements to help protect your business.

  If you have questions about risk management or regulations in our Marketplace, please don’t hesitate to contact our team at [email protected].

  See you in the Marketplace!

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On the Road with Logistics

Members of Proxibid’s logistics team captured some stunning images from JJ Kane’s November 13 sale in Charlotte, NC.

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Industry News

Construction adds 12,000 jobs in October, sees another big drop in unemployment - See more at: http://www.equipmentworld.com/construction-adds-12000-jobs-in-october-sees-another-big-drop-in-unemployment/#sthash.Kdl8ksjK.dpuf

  Quick Data: New and used grader sales for November 2014 - See more at: http://www.equipmentworld.com/quick-data-new-and-used-grader-sales-for-november-2014/#sthash.KArkzYcG.dpuf

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Business Update

August proved to be a strong month for Proxibid. The number of sales events increased more than 31 percent in August 2014 over the number of sales events in August 2013. GMV in August 2014 increased more than 66 percent over GMV in August 2013, while online sell-thru increased nearly 26 percent for the same period. We are looking ahead to a solid finish to the third quarter.

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New Features

On October 7, Proxibid introduced several administrative changes that will enhance both the AuctionBuilder and the Proxibid website experience. Along with these featured improvements listed below, we were able to correct or improve on more than 35 additional features.

  Enhanced Search Editor Tool

Make your items easier to find by using our Enhanced Search Editor Tool.  This tool places your items in the correct sub-category, immediately making them more visible to the buyers. In this release, we’ve made this tool more effective by requiring an initial sub-category selection. Check out this tool next time you load your catalog and raise your items to the top of the search.

  Example: Authentic Louis Vuitton Handbag > Estate & Personal Property > Clothing & Accessories

  Bidder’s phone number improvement

Previously, when viewing accepted, declined, or pending bidders for an auction, only the primary “phone #” would appear (as entered in the Bidder’s profile). If no number was there, “N/A” would appear:

  Now, you’ll see the mobile phone number appear if there is no primary (home) number listed, and the second phone number listed if neither the home nor mobile number is not listed.

  A Black Flagged Buyer cannot leave seller feedback

At Proxibid, we are committed to providing you with the best feedback opportunities. Therefore, if a buyer has been black flagged, they will not be given the link and opportunity to rate their buying experience or to leave seller feedback.

  Proxibid.com New Features & Improvements

Are you a member of IAA (Industrial Auctioneers Association)?

If so, contact your account manager and they will make sure you receive our latest seller badge!

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What Can and Can’t be Sold? Make Sure You’re Up-to-Date on Important Regulations: From the Desk of Cassius Almeida, Director of Product & Risk Management

The Proxibid Marketplace has something for everyone. With 15 categories covering everything from airplanes to zebra rugs, there’s a tremendous variety for all buyers. However, there are restrictions for selling in our Marketplace which can sometimes be confusing because of differences in regulations across countries, at the Federal level, State, and then varying guidelines in different Marketplaces. All sellers must educate themselves before engaging in a transaction on an item that is regulated to avoid potential problems, including fines of up to $200,000 for violations of the Endangered Species Act.

  At Proxibid, our rules are consistent with U.S. Federal guidelines but due to different regulations across states and countries, both buyers and sellers must be cautious not to violate local laws. Some items that are totally off limits include drugs, human remains, hazardous materials, illegal, stolen or counterfeit items, and those that promote or support illegal activity. Some items have complex regulations and will require a little research before posting for sale in the Proxibid Marketplace, including ivory and other items made from endangered animals. These regulations can be confusing so do your homework. Note that in some cases, Proxibid has at its discretion removed an item even if not technically banned or illegal, including items that promote hatred and pornography.

  If you have questions about risk management or regulations in our Marketplace, please don’t hesitate to contact our team at [email protected].

  See you in the Marketplace!

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What are Buyers Saying? From the Desk of Pat Nguyen

As you know, Proxibid regularly surveys buyers to learn more about their experiences in the Marketplace. Last month we sent 22,695 surveys and received comments from 1,750 buyers. Buyers consistently tell us they want better item descriptions and photos. Many of the buyers we contacted have spent thousands of dollars in the Proxibid Marketplace. Imagine what they might spend if there was more information about them items they want to buy?

Here’s what buyers are telling us:

“Descriptions of firearms need to be more complete. For example, descriptions should include serial numbers, chamber lengths on shotguns, length of stock dimensions, and overall condition estimate using the Blue Book of Gun Values rating system. Also, pictures often need to be of a better resolution and show additional angles. All of the above allow a potential bidder to make a more accurate bid, while at the same time eliminating the need for the bidder to personally contact the auction company.”

“I would like to see at least 3 good photos and a description of at least 20 words on items under $50, 5-photos and 25 words for items in the $100-ish range, and eight or more photos and a thirty word GOOD description on items over $300, etc....”

“Huge variation among auction houses on the quality of photographs and item descriptions. If they used better photos, and more of them, I could live without their narrative descriptions. It’s very risky bidding online when you can’t really see details. I would recommend that Proxibid require a minimum standard of photography and number of photos for example, one good photo may suffice for a print or photograph, but a firearm should have at least a few close ups of both sides as well as overviews, and an automobile should require many pictures of interior, exterior, engine, etc.”

Want to ensure buyers pay attention to the items you’re selling in the Marketplace? Provide high quality descriptions and photos. You won’t be sorry! Make it easy on yourself and take advantage of Proxibid’s partnership with Wavebid to get up to 85 percent off their cataloging tool, which makes adding high quality descriptions and photos a breeze.

If you have questions or want more information about this and other best practices, contact an account manager today!

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Coming Soon! Redesigned Weekly Email Newsletters!

Our team has spent several weeks working to redesign our weekly newsletters to make them easier to read and even more engaging.

Why are we changing the design? Research indicates that mobile/smart phone usage is growing and will continue to do so. More than 64 percent of all emails are now opened on a mobile device (Source: Yesmail Email Marketing Compass report, August 2014). Proxibid wants to meet this trend head-on by updating our enewsletter designs to be mobile responsive. This means providing an optimal viewing experience—easy reading and navigation with a minimum of resizing, panning, and scrolling—across a wide range of devices (from mobile phones to desktop computer monitors).

Another benefit of our redesigned newsletter is an increased focus on the items for sale. Our design accommodates larger photos in a layout that is more easily scanned by the reader.

Finally, additional advertising opportunities are available in the both the category and weekly designs. A slider ad placement is now available in each category blast to draw even more attention to your upcoming sale. And in the weekly master email, we have added a main feature placement for each category giving your sale more prominence with larger photography.

When will the new design be in place? We will test the new design over the next few weeks by sending them to small subsets of our overall email lists. We will review performance (click rates, click-through rates) and will optimize as necessary. Expect to see the new design across all newsletters by November 1.

Want more to advertise in a weekly newsletter? Contact your account manager for more information.

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Proxibid Rings in its 100 Millionth Bid

The 100 millionth bid was placed on Friday, September 12 at 1:32 pm Central during Deanco Auction Company’s Public Equipment Auction. Roy Rhoden, a long-time Proxibid buyer, has been recognized as the 100 millionth bidder.

  “Celebrating our 100 millionth bid is a major milestone for Proxibid,” said Ryan Downs, President and CEO of Proxibid. “For more than a decade, our team has worked to provide buyers and sellers with a superior online commerce experience. Reaching our 100 millionth bid is a testament to the dedication our team puts forth every day.”

  “We have been working with Proxibid since 2004 to bring our auctions to global online buyers,” said Donnie Dean, President of Deanco Auction Company. “Throughout the years Proxibid has proven to be a valuable strategic partner in our business, and we are excited to be part of this important milestone.”

  The 100 millionth bidder was presented with a Vizio computer from Divvy, a Proxibid company dedicated to providing consumers with high-quality new and recertified consumer electronics.

  “I am thrilled to be the 100 millionth bidder on Proxibid,” said Roy Rhoden. “I have participated in countless auctions on Proxibid over the years, and look forward to many more purchases in the Marketplace. Proxibid has become my preferred way to shop online for heavy construction equipment because of the selection, security of the Marketplace and customer support provided with every sale.”

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News from the Road

Proxibid’s auction agents spend countless hours on the road each month working with sellers to bring their events online. Check out some of the terrific scenery from the road.

Sunrise at Don Smock Auctions, Dana Raabe

Late evening at Deanco, Brian Mahnke

Creative Memories Warehouse, Grafe Auctions, Brian Mahnke

Weeks Farm Machinery Auction, Moultrie, AL, Noah French

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Industry News

eBay Tries Its Lot With Live Auctions, Again

Construction Spending Dips 0.8% in August due to Fall in Nonresidential

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Better Cataloging with Wavebid

The numbers are in and it’s pretty convincing. Buyers are looking for more information before they buy. Proxibid’s satisfaction surveys report, nearly 20 percent of all buyer complaints stem from poor descriptions and photos. But we realize this level of detail can eat up valuable man hours you just don’t have.

But that’s about to change. Through an exclusive partnership with Wavebid, Proxibid is excited to announce sellers can access their best-in-class cataloging tool at an 85 percent discount. 

The Wavebid Solution

Wavebid’s cataloging tool enables sellers to upload 1,000 photos, rotate and add them to the correct lots in less than 20 minutes. Imagine going from cataloging 50 lots in a day to cataloging 30 lots in an hour! What’s more – this cataloging solution works with Proxibid’s enhanced search technology to ensure buyers can easily find your items in the Proxibid Marketplace.

Sign-up now to take advantage of this limited time offer. We strongly believe that Wavebid’s cataloging tool will change how buyers perceive your sales and ultimately drive better online results.

Why Use Wavebid’s Cataloging Solution?

1)         Export to Proxibid without accessing sensitive information in the Proxibid account.

2)         Never have to rename or resize another photo. Sequence lots into sale order after bidding has started.

3)         Multiple people can work on the same catalog at the same time.

4)         Make updates and add lots from your phone using mobile app.

5)         15 second export to Proxibid.

6)         Log in and use it from any computer, nothing to download.

7)         Unlimited users for FREE.

8)         Proof your auctions for missing information in seconds.

9)         Add PDFs and Videos to a lot in just a few seconds.

10)      Inventory system to move items between auctions.

  Want to learn more? Contact a Proxibid Account Manager to get started 877.505.7770.

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Enhanced Search Best Practices From the Desk of Jaqueline Glassman, Director of Client Services and Sales

Proxibid’s new Enhanced Search tools make it easier than ever for buyers to find your items when searching in the Proxibid Marketplace. We know creating an online catalog sounds daunting, but there really is no substitute for providing buyers with complete descriptions and top notch photos to ensure they can make an educated buying decision.

These simple best practices will help you take advantage of Proxibid’s new Enhanced Search tool, and will provide you with the best opportunity to reach more buyers interested in the items you’re selling:

Build enhanced search into your initial catalog creation process so it does not create an extra step once you’re ready for your items to be online.

Assign the most specific category possible when identifying your items.

After establishing a category, maximize use of meta-data fields relevant to your inventory.

  Need help using Proxibid’s new Enhanced Search tools? Contact an Account Manager for assistance!