Proxibid announces UK expansion

Global online marketplace expands operations into UK and enters strategic alliance with Moffat Group

PROXIBID, the global online marketplace for buying and selling highly valued items, including heavy construction plant and equipment, has announced that it will expand its operations into the UK to better serve its growing global base of buyers and sellers.

Headquartered in Omaha, Nebraska, with offices in New York and now London, Proxibid provides online selling solutions to more than 3,000 auction companies, asset owners and third party sales agencies across the globe.

More than $2 billion worth of inventory passes through Proxibid’s marketplace annually in 15 product categories that include construction and industrial equipment.

‘We are excited to announce our new UK presence,’ said Ryan Downs, president and CEO of Proxibid. ‘This move enables us to better serve our existing UK and European buyers and sellers, and positions us to offer our unique portfolio of e-commerce solutions and access to our large global community of buyers and sellers throughout Europe. The Proxibid marketplace is growing quickly and international expansion is the next logical step for this organization.’

Mr Downs and his executive team have vast experience within the e-commerce market. Having joined Proxibid in 2010 from eBay where he served as senior vice-president of worldwide operations at PayPal, Mr Downs was instrumental in PayPal’s integration with eBay and its expansion into Europe and Asia. Proxibid’s senior vice-president of operations, Jason Nielsen, is one of the US’s foremost experts in online safety and risk management. He too joined Proxibid from eBay, where he served as vice-president of North American operations at PayPal.

According to Mr Downs, what makes Proxibid unique is its industry-leading, comprehensive risk-management system – a sophisticated hybrid of proprietary technology and third-party partnerships managed by an in-house team of experts. The system monitors the Proxibid marketplace for fraud 24h a day, seven days a week and ensures only credible sellers gain access.

All buyers are vetted by MarketGuard, the company’s proprietary, bank-quality risk-mitigation tool, before participating in a sale. Proxibid’s payment solution, Auction Payment Network (APN), also ensures all Proxibid-powered transactions are secure, making its marketplace the safest place to transact online.

As part of their expansion into the UK, Proxibid has entered into a strategic alliance with Moffat Group, publishers of Resale Weekly, one of the largest advertising publications in the UK and Europe, to gain traction in the UK and European construction equipment and farm machinery markets.

Under this new partnership, Moffat Group will leverage Proxibid’s transactional capabilities and online risk-management expertise to provide what is arguably the most secure online environment for buying and selling heavy construction and farm equipment, globally.

‘We have always aimed to bring buyers and sellers together globally and now with this ground-breaking partnership, we can provide a safe and secure environment for them to transact business,’ said Daniel Moffat, CEO of Moffat Group. ‘We will now be able to offer multiple selling formats to suit the needs of all customers, located anywhere in the world with an Internet connection.’