Currently Bidilla, Inc. conducts online auctions on the Proxibid® platform. Proxibid® was founded in 2001 and began operations in January of 2003. At that time the company had five employees, including its four founders. That month it hosted five auctions on its site. Today, Proxibid® brings over 4,000 sellers who host both private and governmental auctions, together with buyers from 190 countries across the globe. Farmers, fashionistas, construction contractors, art lovers, car junkies, dealers, resellers, and collectors of just about everything buy on Proxibid®. And, every month more buyers are joining the Marketplace – over 13,000 new buyers create a Proxibid® account each month. All Bidilla, Inc. online auctions are currently hosted on the Proxibid® auction platform. Bidilla, Inc. drives potential buyers to your online auctions on the front end and Proxibid® brings with it a host of buyers on the back end. Buyers shopping the Proxibid® marketplace have access to your auctions as well.
2016 Proxibid® Markeplace Statistics:
Total Annual Gross Market Value for 2016: $4,476,475,120
Total Buyers in 2016: 1,836,442
Inventory Views in 2016: 101,737,091
Online Bids in 2016: 24,515,681
Average Item Price for 2016: $1,273
Total Online Auction Events in 2016: 15,589
By utilizing the strength of the Proxibid® marketplace, Bidilla, Inc. reaches buyers around the world who are readily looking for items like yours. The Proxibid® platform has unique advantages as well.
Through Proxibid®, Bidilla, Inc. can provide simultaneous online bidding at live auction events, if technology permits, as well as online auctions.
Online auctions can be set-up to run traditionally, where all lots close at a specific time, or as a virtual auction, where lots close in succession, similar to a live auction. Virtual auctions allow bidders to follow the action. If a bidder wants to bid on more than one item in your auction, they don’t have to worry about missing out on one item while protecting their bid on another. There is ample time to bid on each item.
The Proxibid® platform prevents “bid snipers” from bidding at the last second, and thereby not allowing other bidders to bid competitively. When a bidder places a bid on a lot in the last minutes of an auction, the bid closing time is extended for that lot to allow other bidders to bid competitively.
Proxibid® has been recognized by The Better Business Bureau with an “A+” rating and its Marketplace has an industry-low, non-pay rate. Proxibid® is committed to providing a trusted community where buyers and sellers can connect. Proxibid®’s risk management system is a sophisticated hybrid of proprietary technology and third-party partnerships that is managed by an in-house team of experts. The system is built around two simple ideas:
- Ensure buyers and sellers are who they say they are
- Ensure buyers and sellers do what they say they are going to do
When we sell on Proxibid®, rest assured their best-in-class risk management system is behind every sale.
Proxibid® diligently monitors the Marketplace 24 hours a day, 7days a week, for fraudulent behavior that could compromise their sellers. These automated safeguards include:
- Adhering to all requirements for merchant processing to ensure all buyer credit card information is safe
- Monitoring for previously banned buyer profiles
- Verifying unusual account activity by location
- Monitoring changes in account behavior and profile information
- Tracking abnormal retracted bids
- Cataloging all bids with detailed information
- Using external sources to validate buyer information on file
- Cross-checking buyer information against the Office of Foreign Asset Control’s (OFAC) Specially Designated Nationals lists which documents individuals who are prohibited from transacting with U.S. persons
The Proxibid® platform is the only online bidding platform to use MarketGuard®. All sales events on Proxibid® are monitored by MarketGuard®, Proxibid®’s proprietary, bank-quality risk assessment software. Before any user can complete a buying action in a particular sale, that buyer’s information is run through a series of algorithms and must pass various checkpoints. Marketguard® uses the data entered in the buyer’s account and other third-party information to determine if the buyer will be a reliable customer. Buyers can only participate in a sale if they pass the MarketGuard® test. And if a certain sales event warrants it, sellers can require additional information to ensure buyers are vetted more aggressively. It all happens instantly, behind-the-scenes, giving buyers a hassle-free shopping experience. Proxibid® is a global Marketplace with active buyers from more than 190 countries. It is critical that users logging on from outside of the U.S. are vetted as reliable, credible buyers. Proxibid® uses state-of-the art, phone-based authentication technology to verify all international buyers’ identifies.
Proxibid® provides dispute resolution services in those situations when buyers and sellers do come to an impasse regarding a transaction. Proxibid® will mitigate the dispute acting as an impartial party representing the Marketplace to ensure both parties live up to their commitments. This is a unique service not seen on any other live selling platform.
Auction Payment Network (APN): APN payment network is the premier online payment processing solution developed specifically for Proxibid® sellers, and is designed to streamline payment processing and reporting. With APN Bidilla, Inc. can quickly and securely invoice and reconcile your sales. APN also offers remote deposit capture, single and recurring ACH transactions, card payments and ID validation services on a single platform. Through Bidilla, Inc.’ use of APN, you can rest assured transactions are secure and bidders’ personal information is safe. All of APN’s products and services are PCI-compliant meaning they meet the payment card industry’s stringent security requirements. APN was built on a secure network which protects cardholder data and encrypts this data when transmitted across the network. APN maintains a vulnerability management program, implements strong access control measures, regularly monitors and tests networks and maintains an information security policy to ensure a secure environment for all cardholder data.
Proxibid®’s Technical Capabilities
This is offered as an example of the capabilities of the Auction Bidding Platform. Most functions outlined here are conducted through and with the assistance of Bidilla, Inc.. You are not required to directly interact with Proxibid®. However, you will have access to your own sub-page of the Bidilla, Inc. page on Proxibid®.
Hardware, Software and Equipment: Proxibid® will provide all the hardware, software, servers and Internet connection required to provide online bidding for your auctions.
Hosting of the Auction System: Proxibid® will host the online bidding solution. No additional computer hardware, software or database systems will be required. You can link directly from your website to your auctions.
Hardware and Software Maintenance: All maintenance and upgrades to the hardware and software required to maintain the online bidding solution are the responsibility of Proxibid®.
Operating Software and Applications: Because Proxibid® owns the software and applications, Proxibid® directly provides all software and applications required for the auction to function.
Secure Web Environment: All registered, pre-qualified bidders create a unique password. Additionally, Proxibid® protects the web environment in multiple ways:
- Confidentiality of data
- For employees who have access to confidential information in a customer support scenario, there is a policy in place to authenticate a caller before disclosing any user related information. Calls are recorded and recordings are reviewed periodically to ensure related policies are properly in use.
- Data transmission is SSL encrypted
- Passwords are stored as a one-way hash within the system database to further encrypt them.
- Proxibid® does not directly retain data elements such as social security numbers or credit card numbers. If these items are needed, that event would be transacted through a 3rd party partner platform which has the necessary industry compliance in place to securely receive and store such data.
- Hosting of website
- Proxibid® production systems are hosted in a private cloud platform dedicated to the core business. All related programs and solutions, such as the bidding application, and AuctionBuilderTM, are all SSL secure sites.
- Audit trail of transactions
- Proxibid® maintains a full audit logging of critical data created or changed within the system. Such items include, but are not limited to:
- Each bid by user per item
- System messaging between live auction application components during a sale
- Additional critical user and sale information
- Proxibid® maintains applicable logs for 90 days. However, Proxibid® would be able to store the data for longer or shorter time periods upon request.
- Proxibid® maintains a full audit logging of critical data created or changed within the system. Such items include, but are not limited to:
Connectivity: Proxibid®’s solution allows for access from Windows-based systems and Apple-compatible systems. No special software is required. Proxibid®’s solution is accessible through any modern Web browser.
Maintenance and Support: Proxibid®’s Client Services team offers unparalleled support to both sellers and bidders. Proxibid®’s team provides unmatched support via telephone and email before, during, and after every auction, as well as during our regular business hours, daily from 7:00 a.m. – 10:00 p.m. Central time. In addition to the types of services you would expect from a Client Services team, Proxibid®’s team takes extra steps to ensure your online success. The team regularly makes outbound calls to prospective bidders for upcoming auctions. Proxibid® constantly monitors auctions to ensure the best online experience possible for your bidders. Because Proxibid®’s customer support team is located at its Omaha headquarters, they are able to be more flexible than support teams at other providers. Proxibid® has the capability to adjust staffing and hours to accommodate your events, to ensure that even unusually scheduled auctions have support available. Proxibid®’s Client Services team has a combined 48 years of customer service experience, enabling its team to provide the best possible experience for sellers and bidders. Proxibid®’s multi-lingual support agents must complete a rigorous training program and are proficient in Proxibid®’s online bidding technology. Proxibid® provides a constant, open line of communications between sellers and bidders to ensure all parties have a positive online experience.
Simple Login, Registration, and User Experience: Registering to bid on Proxibid® is very easy. New buyers simply visit the Proxibid® website and click the “SIGN UP” button at the top of the page. Bidders answer a few basic questions and are ready to bid. Behind the scenes, Proxibid®’s anti-fraud tool, MarketGuardTM runs the bidder through an approval process to ensure the buyer has the wherewithal to pay for the items and is a good candidate to bid in your auction(s). This process is seamless to the bidder. Prospective buyers do not have to register to bid to be able to view items in your auctions. Any potential bidder can view the auction catalog, review item descriptions and view photos without having an account. And, they can access the “SIGN UP” process from the auction catalog, making it easy for potential buyers to get signed up to bid at any point in the process.
Proxibid® provides sellers with an easy-to-use auction catalog builder that provides buyers with a consistent shopping experience from auction to auction, creating a level of comfort and trust with buyers.
Simple and Uniform Methods to Submit Bids: Proxibid® provides buyers with a user-friendly and intuitive way to submit bids via the Internet. All bidders are able to see the highest bid placed on an item. If a buyer has been outbid, Proxibid®’s system will send an automatic notification, encouraging the buyer to place a new bid. Bidders can place a bid, up to the maximum amount they wish to pay for an item, and Proxibid®’s system will bid, on the buyer’s behalf, up to that maximum amount. Additionally, Proxibid® has the capability to accept bidding by people via fax and/or written correspondence.
Rejecting Bids: The seller may choose not to acknowledge a bid if it does not meet the minimum starting bid price or reserve price for the property. Additionally, the seller would be allowed to reject a bid for any reason whatsoever as it determines. Please be advised that rejecting bids without a reasonable explanation may have legal implications as an auction is considered a legal form of a sale.
Withdrawing of Lots: A seller would have the ability to remove single or multiple properties from an auction.
Clearly Identified Auction End Times: End times for all auctions on Proxibid® are clearly identified.
Ability to Set and to Display a Reserve Price: Proxibid®’s solution enables sellers to set the reserve price as appropriate. Additionally, the reserve price can be hidden from view. The use of reserves should only be used in limited circumstances. A reserve fee may apply for lots that do not sell.
Ability to Set Minimum Opening Bid and Minimum Increment: Proxibid®’s solution enables the seller to set a minimum opening bid as well as to customize the increments at which bids will be submitted. Caution is due in setting minimum opening bids. One of the key elements to a successful auction is the momentum created by competitive bidding. By setting an opening bid too high, this momentum may be diminished, creating less than desirable results. The excessive use of high opening bids may result in an opening bid fee for lots that do not sell.
Record of Winning Bidder and Backup Bidder: Proxibid® maintains copious records of all bidding activity in its system. Their technology team is able to track every bid placed, the time it was placed and the IP address of the bidder. If at any time a buyer defaults on their bid, Proxibid® can quickly identify the second highest bidder and contact that person to determine their interest in purchasing the item.
Access to Bidder Records: All Proxibid® clients have access to bidding information for their auctions taking place in the Proxibid® marketplace. Proxibid® provides a dashboard complete with analytics from each sale, which provides detailed statistics, as well as contact information for all bidders in your sales, as well as a report of all winning bidders. Other statistics available include: online sales, online high bid, number of bids placed, number of online bids placed and more.
Online Security and Fraud Protection: Proxibid® is the most secure online bidding provider in the industry. All security systems, anti-virus and firewalls are capable of preventing the hacking of any auction information, as well as protecting against the assimilation or distribution of viruses and other programs. Additionally, bidder identity is always protected as bidders are only identified by the first and last letters of their usernames.
Simple Auction Posting Solution: Proxibid®’s web-based back-end tool, AuctionBuilderTM, is easy to use, making it a breeze for sellers to get inventory listed into an auction. This secure system provides users with the ability to quickly upload their auction catalog, including item descriptions and photographs. Users have complete control over the auction (start and end times, auction type, reserves, increments, etc.). If an auction is active, you can make modifications. However, it is Proxibid®’s policy to contact all bidders in the auction if the changes involve updates to the terms and conditions or minimum or reserve pricing.
Withdrawing an Auction: You can cancel an auction in the Proxibid® system without penalty. If you choose to cancel an auction, Proxibid® will send an email notification to all registered bidders informing them that the auction has been canceled. This notification is drafted by Proxibid®’s Communications Department and is forwarded to bidders by members of its Client Services team.
Dynamic Closing: Proxibid® offers extended bidding in its online only auctions. If a bid is received within the last two minutes of the auction, the time on that lot is extended two minutes to allow the individual who was outbid the opportunity to place a new bid. The ending time will continue to extend until there is no competitive bidding within the last two minutes of the auction.
Auction Templates: Proxibid®’s AuctionBuilder program enables sellers to create auction templates so they do not have to create a brand new auction description every time a catalog is created.
Standard Sales Closing Information: All sales closing information is included in the auction catalog in a section entitled “Information and Special Terms.” Sellers can easily copy and paste standard sales information into their auction catalog, enabling them to save valuable time and resources when creating a new auction. Payment terms, shipping details, and other “fine print” can be re-used as appropriate, from one auction listing to the next.
Fraudulent Bidders: Once buyers are interested in participating in an auction event, Proxibid®’s proprietary risk management tool, MarketGuardTM, evaluates and filters potential threats, helping ensure a successful transaction between buyer and seller. Proxibid®’s MarketGuardTM fraud protection tool provides tier 4 bank-level protection, which allows bidders to provide “know your customer” information, complete OFAC checks, and a large number of other evaluation points. Proxibid®’s fraud prevention tools also monitor the bidding environment to detect potential malicious activity to help ensure all bidding activity is reliable. Proxibid® keeps copious records of all bidder activity in the marketplace. If a bidder has defaulted in past auctions, that bidder will not pass the requirements to be admitted to bid in your auctions.
IT Backup and Storage: As part of normal operations, all systems and data stored on Proxibid®’s network are being backed up on tapes every evening. These tapes are stored on 20-day rotations and a copy is stored off site every week in a storage facility managed by an outside storage company.
IT Continuity: Proxibid®’s online bidding platform environment utilizes a high amount of redundancy, and there are alternatives for each functional part of the infrastructure so that no single issue or event can take down the Company’s online service, from Proxibid®’s network and Internet service provider, to its firewalls, servers and data storage.
Proxibid® bidding systems:
- Maintain Enterprise-level infrastructure and support for Proxibid®’s data center and technology solutions.
- Maintain up time of the platform at more than 99.9%.
- All relevant components within the data center are redundant to both Dallas and Chicago
- Most redundant components within the data center have automatic fail-over or are used in parallel.
- Redundancy and automation solutions include network, servers, databases, data storage as well as support systems such as power, cooling and backup generators.
- Maintain redundant data centers in geographically diverse cities.
- Ability to fail over from one data center to the other within minutes.
- Multiple Internet carriers supporting data center connectivity.
- Maintain similar Enterprise-level infrastructure at our office location, minimizing risk to our local network, phone system and other resource supporting the business services and products.
- Data center partner maintains a robust staffing model 24×7.
- Data center partner operates as an extension of our in house technology infrastructure team, ensuring the best possible support around the clock.
- Data center partner maintains industry standard compliances such as PCI and SAS70 Type II.