German online auction house Auctionata has completed the first half of the year 2015 with a growth of 195% (in GMV – Gross Merchandise Value) compared to the same period in 2014. Only two years after launching weekly live-stream auctions, Auctionata is now Germany’s biggest auction house, both in terms of revenue and size of staff. About 80% of the GMV was generated via livestream auctions, while the online shop and private sales contributed the remaining percentage.
Auctionata recently closed a Series C financing round of €42 million, in which all existing and several new investors participated. Moreover, Auctionata recently set a new world record for a work of art sold in an online auction; in June, a Chinese automaton clock sold for €3.37 million to the well-known investor Liu Yiqian. This makes it the most expensive work of art ever to be sold in an online live-stream auction.
Over the last six months, Auctionata has broadcasted 123 auctions, in which live bidding can now also be done via an iPhone app. The live-stream technology offers sellers global reach and enables mobile access to numerous auctions in diverse categories for buyers from all over the world. This unique customer experience has attracted more than 30,000 bidders from 140 countries. Moreover, the number of active customers has increased to 146,000. Sellers have consigned objects worth €74 million over the last six months. In June, the company also realised its first ever positive EBITDA of €2.1 million due to scaling effects.
Alexander Zacke, founder and CEO of Auctionata, explained: “Now we are focusing on becoming the number one auction house in Continental Europe within the next 18 months. We have built a proven model and have been extremely fast in reaching the leadership position in Germany. With this same model, we can become leaders in any market, any category, and any geography.”
Dr. Christian Nagel, Partner at venture capital firm Earlybird, commented: “By successfully meeting 21st century expectations of customers across the globe, Auctionata is on the right track to launch an IPO in 2016.”
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