Germany’s online auction house Auctionata quickly rose to immense success, almost running over the usual stepping stones required to achieve great heights. The online auction house from Berlin is now the biggest auction house in Germany, regarding both the terms of revenue and staff size. A whopping 195 percent increase has been marked from the start of the year, and that’s with only half of 2015 behind us. When translated into actual monetary profit, GMV (Gross Merchandise Value) resulted in 35.7 million euros ($39.7 million). One of the most interesting facts about this astonishing success, is that around 80 percent of this revenue were due to the massive hit of the livestream auctions, and the rest of the percentage was generated by the online shop and private sales.
Global Reach of Online Auctions
According to Alexander Zacke, who is probably the brilliant mind behind this well thought out strategy, being the founder and CEO of Auctionata, the enhanced customer experience they offered through the livestream auctions was crucial. More than 123 auctions were broadcast in the past six months, and following the current trends, live bidding was also available through an iPhone app, giving you the amazing possibility to bid and buy artwork regardless of your current location, and with a simple tap on the screen. What elevated Auctionata so much higher than the rest of the German auction houses, is the global reach and mobile access which brings together buyers from all over the world. Moreover, this unique method has gathered over 30.000 bidders, coming from 140 different countries.
Auctionata Breaking Records
The amazing, even record breaking success of Auctionata doesn’t end there. They have managed to make a new world record for a work of art sold in an online auction. The well-known investor by the name of Liu Yiqian was the customer for this record setting purchase, the object was a Chinese automaton clock, sold for €3.37 million or US $3.83 million. Over the last six months, the total worth of the objects consigned for sale was €74 million (US $82 million), and the number of active customers has risen to 146.000. Another important factor surely hides in the diversified categories Auctionata offers to its buyers. Furthermore, the top sales were fetched in the categories dealing with contemporary art, watches, fine art and classic cars. Like all the other auction houses, not every sale turns out as successful as anticipated, but with the rise of online art market, Auctionata can leave those days behind.
Only two years since its launch, the company has achieved a head-turning success, leaving the competitors in the dust. Auctionata’s CEO, Alexander Zacke reveals the ambitious plan for this newly-made powerhouse in the art market of today. Germany’s leading auction house will focus on conquering the number one spot in Continental Europe within the following 18 months. Based upon their already proven and successful model, they are fairly confident that Auctionata can become the leading name in any market, category and geographical environment, and judging by the achieved results, who can say otherwise?
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