Auctionata and Paddle8 have announced that they are joining forces to create the global leader in online art, collectibles and vintage luxury. The joint company will immediately become one of the top 10 auction houses worldwide outside of China and the fastest growing company in the sector. Paddle8 and Auctionata share a vision of being the destination of choice for the 21st century collector as well as art dealers.
Auctionata and Paddle8 have announced that they are joining forces to create the global leader in online art, collectibles and vintage luxury. The joint company will immediately become one of the top 10 auction houses worldwide outside of China and the fastest growing company in the sector. Paddle8 and Auctionata share a vision of being the destination of choice for the 21st century collector as well as art dealers. Auctionata has already established a presence in Europe as the leading German auction platform. In the U.S., Paddle8 is the largest online auction platform and has strong brand recognition as a marketplace for art and luxury collectibles. With joint sales above $150M and nearly 800,000 registered users, the united company will be a dominant player for art and luxury collectibles in the most important markets globally.
Together, Paddle8 and Auctionata will grow the underserved global mid-market in this space. While legacy brick-and-mortar auction houses dominate the high-end of the collectibles market, online secondary marketplaces at the opposite end of the spectrum cannot provide transparency and authentication. This leaves a gap where the middle market, for objects up to $500K, is vastly underserved. Both Paddle8 and Auctionata have independently pursued this market, and together they are poised to win and grow the sector.
The joint company will offer a more extensive and diversified inventory as Paddle8’s sales are oriented mostly toward contemporary art and design, while Auctionata specializes in vintage luxury. Paddle8’s strong presence in timed auctions, private and charitable sales coupled with Auctionata’s industry-first livestream auction format plus online shop means that the two companies can now provide customers with an unrivalled multitude of categories and sales formats. In addition, the united company’s strong presence and operational hubs in Europe and the U.S. will enable it to consolidate the market not only in terms of categories, but also across geographies.
Financial terms of the deal were not disclosed. The merger brings together an established leadership team with all co-founders remaining in strategic and operational roles integral to the company’s future growth. Alexander Zacke, previously CEO of Auctionata, will lead the global management team of the newly formed group. Both the Paddle8 and Auctionata brand names will continue on as the two companies fuse together.
Image above: Merged Company Management Team from left to right:
Patrick van der Vorst, Head of Auctionata UK and Founder of Valuemystuff.com
Johannes Riedl, Chief Operating Officer
Aditya Julka, Chairman and Chief Strategy Officer and CoFounder of Paddle8
Susanne Zacke, Chief Marketplace Officer and CoFounder of Auctionata
Alexander Zacke, Chief Executive Officer and CoFounder of Auctionata
Osman Khan, Chairman and Chief Executive Officer for The Americas and CoFounder of Paddle8
Christof Schminke, Chief Marketing Officer
Alexander Gilkes, Chairman and Chief Innovation Officer and CoFounder of Paddle8
Artashes Torosyan, Chief Technology Officer
Jan Thiel, Deputy Chief Executive Officer
Martin Heyne, Chief Auction Office
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