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Auctionata Achieves Remarkable Growth In First Half Of 2014
|By PR Newswire
|August 8, 2014 12:53 PM EDT
NEW YORK, Aug. 8, 2014 /PRNewswire/ -- The online auction house Auctionata (www.auctionata.com), founded in Berlin in February 2012, reports continued above-average growth in the first half of 2014 with total sales1 reaching €12 million ($16.1 million), a 96% increase over the second half of 2013, when sales totaled €6,1 ($8.2 million).
Adjusted net revenues2 reached of €3,6 million (US $4.8 million), an increase of 211% compared to the second half of 2013. In June 2014 net revenue reached an annual run rate of €14,94 million (US $20.2 million).
Since the launch of the weekly live stream auctions in May 2013, 25,000 bidders from more than 100 countries have made auction bids with a total value of €210 million (US $282 million). Since the online valuation service and network of experts were launched, businesses and individuals have uploaded 650,000 objects to the Auctionata website, from which Auctionata experts have selected 25,000 for auction and the online shop. In 2014 alone, merchandise valued at €37 million (US $50 million) has been consigned to Auctionata for sale, either by auction or at fixed price through Auctionata's online shop.
Several auctions across all auction categories involved rather aggressive bidding battles, resulting in surprisingly high winning bids (prices include buyer's premium and exclude sales tax):
- Agostino Bonalumi (1935-2013), Two Wall Objects, 1966, for €84,000 (US $113,000)
- Rare Fire-Gilt Bronze Figure of Buddha Amithaba, China, Yongle, for €240,000 (US $322,000)
- Patek Philippe Split Second Chronograph, Reference 5004 R, for €192,000 (US $258,000)
- Wolfgang Tumpel, Rare Silver Coffee Pot, Germany, 1928, for €40,000 (US $54,000)
- Franz Ivan Roubaud (1856-1928), Circassian Troops, 1880s/1890s, for €156,000 (US $209,000)
- Petr Konchalovsky, Portrait Dmitri Konchalovsky, 1934, for €96,000 (US $129,000)
- Jodocus Erfordensis – Early Incunabulum 'Vocabularius', 1473/74, for €26,000 (US $35,000)
- Arman & George Boisgontier, Chess Game 'Double Gambit', 1986, for €108,000 (US $145,000)
- 7 bottles 1982 Chateau Lafite Rothschild, Pauillac, for €15,000 (US $20,000)
With a growing list of over 100,000 registered clients, Auctionata has been able to further strengthen its position as the leading online market for art, antiques and collectibles. June saw the establishment of another milestone in the young history of the company: thanks to its excellent record on internet security and transparency, Auctionata received the German TUV certification, making it the only online fine art sales and auction house to earn such recognition of quality and reliability.
Since June 2014, a full-service office in New York City's Fuller Building (41 East 57th Street & Madison Avenue), attends to the American market with a current staff of 30 employees. Beginning in November, weekly live auctions will also be broadcast directly from New York, and Eric Gonon, the creator of CNBC's famous "Mad Money" show, will be in charge of Auctionata's weekly live stream auction show broadcasts. In addition, Auctionata entered into a co-branding partnership with the photography editions gallery LUMAS in July. Within this framework, joint auctions of photography will be held starting in fall 2014.
- All Euro prices are converted into Dollar prices by using the exchange rate from August 04, 2014 (1€ = 1.3422 $)
1 Total sales – Gross Merchandise Value of sold items
2 Adjusted net revenues – Commission and service revenues after corrections
Auctionata at a glance (www.auctionata.com)
Auctionata is the inventor of the live stream auction. The Berlin-based start-up company makes the art, antiques and collectibles market transparent, easily accessible, and available to all buyers and sellers by being the only company in the world to offer all the services of a traditional auction house on a single website. Since May 2013, live stream auctions have been broadcast throughout the entire world several times a week from its own TV studio. Auctionata provides a clear view of both the auctioneer and the object on the block, real-time information about the bidding and the opportunity to submit live bids – no matter where you are in the world at that moment. The patented technology ensures that the auctioneer receives all the bids in the proper sequence and can correctly and fairly award the winning bid.
In addition to the regular live stream auctions, Auctionata also offers an online shop curated by experts, with more than 15,000 objects from a multitude of specialty areas – ranging from paintings and jewelry to Asian art, porcelain, design, and antiques – that can be purchased around the clock, all at set prices. The unique combination of live stream auction and online shop enables sellers to always reach a suitable buyer for objects at any price level.
Auctionata's valuation service is free and without obligation, accessible to everyone, and saves time and expense: An initial valuation, based simply on a photograph of the object, is normally made within a week. With more than 250 members, the worldwide largest independent network of experts and art appraisers enables quick and professional valuation of objects from more than 100 fields of specialization.
AUCTIONATA PRESS AND PUBLIC RELATIONS
Robin Davis I The Townsend Group I (203)-622-1334 I [email protected] Redington Jahncke I The Townsend Group I (203)-622-1334 I [email protected]
SOURCE The Townsend Group
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