Online live auctions: Auctionata raises $20M for global expansion

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The online fine art and auction house Auctionata has just raised $20.2M for global expansion, recruiting and technology platform growth. The financing comes from Earlybird, Bright Capital and Kite Ventures as well as HV Holtzbrinck Ventures, eVenture Capital Partners and the Raffay Group.

As the first patented online producer of live auctions, the Berlin-based startup Auctionata covers the entire spectrum of an auction house. Including expert curation to its unique, HDTV-production quality, fine art online auction events. Auctionata’s vision is “to open the international art, antiques and collectibles markets to consumers, making it accessible to everybody through the Internet”.

For the buyer, Auctionata aims to bring the auction thrill into the living room while also offering a wide selection of significant objects in an online shop. Auctionata exclusively provides a 25 years guarantee of authenticity on all sold objects. For the seller, Auctionata offers a proven and highly-produced online selling experience. The young company has about 250 internationally renowned specialists (who appraise and curate all objects for sale). According to Auctionata, the site already reaches millions of private sellers, collectors and dealers with its full service.

Dr. Christian Nagel, co-founder and partner of Earlybird stated: “We look for companies with the potential to be global market leaders. Auctionata sells objects that attract interest worldwide – up to and including the level of Egon Schiele. No other online vendor serves this market segment. Auctionata’s business model was developed by two founding figures with decades of experience in both the art market and online business.”

On 21 June 2013 Auctionata will be the first German online fine art and auction house to sell an original watercolor by Egon Schiele (his famed Reclining Woman) in an online live auction from its own TV studio, with a starting price of $1.5M (€1M).

Watch the following video to learn more about Auctionata and it’s concept: