Just two years after launching weekly livestream auctions, Berlin-based online auction house Auctionata is now Germany’s biggest auction house both in terms of revenue and size of staff having achieved 195 percent growth in the first half of 2015 to finish the year with a Gross Merchandise Value (GMV) of €35.7 million ($39.7 million).According to Auctionata, about 80 percent of the GMV was generated in the livestream auctions, while the online shop and private sales contributed the remaining percentage. Over the last six months, Auctionata has broadcast 123 auctions, with sellers consigning objects worth a total of €74 million ($82 million).Alexander Zacke, founder and CEO of Auctionata, said that by offering an enhanced customer experience through their livestream auctions, Auctionata is driving a disruption of the traditional art market and has left behind its bricks and mortar competitors in Germany in a period of less than two years.“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,” said Zacke.Auctionata has also revealed that is recently closed a Series C financing round of €42 million ($45 million) in which all existing and several new investors participated. The new investors include MCI Management, Hearst Ventures, Yuan Capital, and Groupe Arnault, controlling shareholder of French luxury group LVMH Moët Hennessy Louis Vuitton.Dr. Christian Nagel, partner at venture capital firm Earlybird, said that Auctionata’s ambition to create 21st century auctions makes it a new powerhouse in today’s art market.“By successfully meeting 21st century expectations of customers across the globe, Auctionata is on the right track to launch an IPO in 2016,” Nagel said.
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