Proxibid Announces Extended Bidding for All Timed Auctions

Proxibid, a premier provider of live auction broadcasting services, today announced that is has added “Extended Bidding” for all timed auctions. This exciting new feature will extend the remaining time to bid on a single lot when a bid is received within the final five minutes of a timed auction.

Extended bidding makes it possible to competitively bid on items in the final minutes of a timed auction without worrying about sniping, or placing a bid in the final seconds before an auction closes. Each time a bid is placed within the final five minutes of a timed auction, the remaining time to bid on a single item will be extended five minutes. If a counter bid is placed during the five minute time period the auction will be extended again. With extended bidding, every bidder who is interested in a specific item has the opportunity to bid and win. For auctioneers, this ensures that goods are sold for the best possible price during each auction.

“We are thrilled with the new extended bidding feature available on Proxibid,” said Brandon Howe of Terry Howe and Associates. “With the extended bidding feature, we are able to see a higher level of activity on our timed auctions than ever before. With this new feature, there’s no need to do a live event!”

In addition to the extended bidding feature, Proxibid also unveiled its new “Watch Lot” feature. Bidders can now watch individual items and manage them through the “My Proxibid” area of the Web site. Now it is easier than ever for bidders to track and bid on items available for auction.

“After months of research and development we believe our new extended bidding feature will enable our timed auctions to become the new gold standard,” said Ken Maxwell, Vice President of Proxibid. “This feature will give bidders the best chance at winning, while maximizing realized prices for auctioneers and their consignors.”

Proxibid hosts more than 350 live and timed auctions from more than 850 auction houses each month. With thousands of items to choose from, there is something for everyone for sale at Proxibid. To register to bid, please visit www.proxibid.com.

About Proxibid
Proxibid is the premier provider of live Internet auction broadcasting services. With Proxibid, bidders have access to real auctions, with real auctioneers, from the comfort of their home or office. Bidders can view auction catalogs, post pre-bids and participate in real-time Internet bidding via Proxibid’s powerful auction portal. As a leading pioneer of live Internet bidding technology, Proxibid continues to lead the marketplace by offering an unparalleled level of customer service and support.

To learn more about Proxibid, please log on to www.proxibid.com.

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