The Berlin-based online art and auction house Auctionata has secured €21.5 million in new equity capital and funding following a second funding round from the existing investors.
The company, who conduct live-stream auctions online across a
range of traditional art and antiques disciplines from Old Masters
to books and manuscripts, say the net turnover of €4.6 million from
17 sales in the first quarter of 2014 represented a five-fold
increase on the same period last year with sell-through rates
running at 77%.
An online shop offering over 10,000 items for sale at fixed
prices accounts for 30% of turnover.
"We are proud that Auctionata has been able to establish
itself within the art and auction market in less than a year from
the inception of live-stream auctions," said CEO Alexander Zacke:
"We are looking forward to leveraging this increase in capital by
expanding Auctionata's global activities and broadcasting online
auctions live from New York as of November."
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