Proxibid and Hemmings Motor News Form Strategic Partnership to Launch HemmingsPRO Ecommerce Solution

LAS VEGAS–(BUSINESS WIRE)–#HemmingsPro—Proxibid,
the world’s most trusted way to connect buyers and sellers of highly
valued items like collector cars, and Hemmings, the leading resource for
collector car enthusiasts, today announced a strategic partnership that
brings Proxibid’s transactional capabilities to Hemmings.com, and
exposes dealers to the industry’s most robust collector car network.
Now, sellers using Hemmings listing services can transform their
businesses, offering 24×7 online selling solutions to their dealer
showrooms.

HemmingsPRO,
which leverages Proxibid’s robust ecommerce solution, is a new sales
model designed to help dealers sell more cars online through the
Hemmings community. Built to meet the needs of buyers and sellers, it is
the first network of its kind in the industry to facilitate end-to-end
transactions online.

“Even in the short amount of time we have used HemmingsPRO, we have
experienced great success, with several offers already and one closed
sale within just a few days of signing up,” said Jeff Frazier of JP
Frazier/Americar, Inc. “Adding HemmingsPRO to our sales toolkit
gives us access to more buyers than ever, and provides access to the
most trusted ecommerce engine in the industry. Already we are seeing the
benefits of adding transactional capabilities to our listings.”

The same technology that powers Proxibid’s multi-billion-dollar platform
has been extended to Hemmings. All sales are monitored by Proxibid’s
proprietary buyer vetting tool, which uses information from the buyer’s
account and third-party tools to verify a buyer’s wherewithal to pay.
Proxibid offers a fully integrated wire payment service, which includes
vehicle inspection periods baked into every transaction, ensuring both
buyers and sellers are protected throughout the purchase process.

“We are excited to work with Proxibid to extend ecommerce solutions to
collector car enthusiasts across the globe,” said Jim Menneto, Publisher
of Hemmings Motor News. “The Hemmings team selected Proxibid for this
partnership because of Proxibid’s commitment to Marketplace ethics and
the power their software brings to our sellers. It’s a phenomenal
partnership and we look forward to working with Proxibid to enhance the
collector car industry worldwide.”

Proxibid offers the industry’s most comprehensive risk management
system, designed specifically to manage high dollar transactions like
collector cars. And only Proxibid offers dispute resolution services in
rare instances when issues arise between buyer and seller to ensure both
parties live up to their commitments. This is a unique service not seen
on any other online selling platform, making Proxibid the safest place
to buy and sell highly valued items online.

“This partnership further illustrates Proxibid’s commitment to the
collector car category,” said Ryan Downs, President and CEO of Proxibid.
“We are delighted to partner with a company like Hemmings Motor News,
the standard for excellence in the industry. Together, we will provide
the most trusted ecommerce solutions for buyers and sellers of collector
cars.”

Please visit Hemmings Motor News at SEMA Show, Booth 23675, to learn
more about HemmingsPRO.

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About Hemmings
Hemmings Motor News, founded in 1954, is the
world’s largest collector car marketplace and news outlet reaching
millions of enthusiasts across web, print, and signature events.
Hemmings’ commitment to marketplace integrity and award-winning
journalism set the highest standards for quality in the collector car
hobby around the globe.

About Proxibid
Proxibid provides auction companies and asset
owners with access to the most trusted way to buy and sell highly valued
items online. More than $4 billion in inventory passes through
Proxibid’s Marketplace annually via live and timed auctions,
and Buy Now and Make Offer capabilities, across 15 categories that
include heavy equipment; industrial machinery; real estate; fine art;
antiques and collectibles, and more.

Founded in 2001, Proxibid is headquartered in Omaha, NE with offices in
South Sioux City, NE and London. For more information about Proxibid,
please visit www.proxibid.com.

Contacts

Proxibid
Dana Kaufman, 402-505-7776
Dana.Kaufman@Proxibid.com