Proxibid, the world’s largest provider of live auction webcasting services, today announced that more than 57 percent of items from its live webcast of the Gaston & Sheehan U.S. Marshals Service National Jewelry Auction sold to online bidders. This auction included 189 lots of items previously owned by Bernard and Ruth Madoff, of which 47 percent sold to online bidders via Proxibid.

More than 2,000 bidders from 20 countries logged on to bid online during the live auction webcast and thousands more took advantage of Proxibid’s live audio and video to watch the event. Sixty-nine percent of all bids came through the Internet, and online sales for the auction totaled more than $932,000, which exceeded estimates for the sale.

Online winning bids of Madoff’s assets totaled more than $324,000. The coveted Mets Jacket with “Madoff” embroidered on the back fetched $14,500 online. Additional items of interest that sold to online bidders include three wooden duck decoys which totaled $11,500 and the rescue buoy from Madoff’s yacht, which brought $7,500.

“Online bidding certainly had a positive impact on the success of this auction,” said auctioneer Jason Rzepniewski. “Several key pieces were sold to online bidders, and the prices were consistently driven higher thanks to competition between online and onsite buyers, and in many cases, between several online buyers vying for the same item. With the global reach and extraordinary interest in this auction, online bidding made a significant difference in the outcome of this sale.”

About Proxibid
Since 2002, Proxibid has webcast more than 20,000 auctions – more than any other company 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.