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11/20/2008 - Proxibid Sets New Record with Cat Auction Services' Inaugural Auction
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Omaha, NE — November 20, 2008 — Proxibid, the world’s largest provider of live auction webcasting services, set a new company record for online sales at a single equipment auction during Cat Auction Services’ inaugural auction on November 12 in Des Moines, IA. Nearly $2.4 million in Cat equipment was sold to online bidders during the live auction webcast.
“We are very pleased with the results of our inaugural auction,” said Rick Albin, president and CEO of Cat Auction Services. “Embracing real-time online bidding during our auction enabled us to reach a broader customer base and to sell a significant portion of our equipment to international buyers. With the world economy in such transition, allowing consumers to save on travel costs while still enabling them to participate in the auction is a win-win for everyone.”
The success of this auction can be attributed to several critical success factors. First, Cat Auction Services provided every detail needed for an online participant to make a confident buying decision, from the early availability of the catalog to inspection reports, and warranties on qualifed Cat equipment. Additionally, Cat Auction Services embraced online bidding from the earliest stages.
“The fact that the Cat Auction Services auction was so successful, even with the current market conditions, is indicative of the power of live online bidding,” said Proxibid’s CEO, Bruce Hoberman. “Proxibid was able to significantly impact the price drive and add considerably to the bottom line during this auction.”
Cat Auction Services’ next auction will take place Thursday, March 26, 2009 at 9:00 a.m. CST. Registration is already available for this auction at www.proxibid.com/catauctions.
About Proxibid
Since 2002, Proxibid has webcast more than 11,000 auctions – more than any other company in the industry. The Company hosts more than 100 equipment auctions each month, and has more heavy equipment inventory than any other live, online auction provider in the industry. Proxibid’s proprietary live Internet bidding service and Web site were developed by auctioneers and industry-leading professionals to provide our bidders with the most user-friendly and comprehensive live online auction experience possible.
Proxibid’s customer service and support is unmatched in the industry. The company’s toll-free support center is open before, during and after every live auction, and is staffed with bi-lingual auction specialists who assist both bidders and auctioneers. For more information about Proxibid, please visit us online at www.proxibid.com.
About Cat Auction Services
Cat Auction Services was formed in 2008 and is a unique partnership of Cat dealers. Cat Auction Services enhances dealer offerings to give customers another option in buying and selling used equipment. The company’s expertise in the heavy equipment industry and world-class product support capabilities allow them to offer a level of quality and assurance never before seen in the auction industry. Visit www.catauctions.com for more information.
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