US high-value auctions website announces expansion into UK

A US auctions website for high value items is has announced it is expanding its operation to include the UK market.

Proxibid, which describes itself as “the world’s most trusted online marketplace for buying and selling highly valued items”, says the expansion is designed 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 jewellery, antiques and collectables.

President and CEO, Ryan Downs, said: “We are excited to announce our new UK presence. This move enables us to better serve our existing UK and European buyers and sellers, and positions us to offer our unique portfolio of ecommerce solutions and access to our large global community of buyers to sellers throughout Europe.

Downs and his executive team have vast experience within the ecommerce market. Downs joined Proxibid in 2010 from eBay, where he served as senior vice president of worldwide operations at PayPal. He played a significant role in PayPal’s integration with eBay and its expansion to Europe and Asia.

Jason Nielsen, senior vice president of operations, also joined Proxibid from eBay, where he served as vice president of North American operations at PayPal.

Proxibid buyers are all vetted by MarketGuard, the company’s proprietary risk mitigation tool, before participating in a sale.