Confirming rumours, Howard Lewis, chairman of the company and one of three major shareholders, told ATG he was in discussion with a number of different parties who have made enquiries, most from the United States. While enquires are being considered, Invaluable would, he said, continue to operate as normal listing the sale information of American and European auctioneers that subscribers pay to view.
Founded in 1989, the company was among the first to open the possibilities of the internet to auction houses, although they have met competition in recent year from newer free-to-use sites including antiquestradegazette.com.
Although the company declared 2004 to be a record-breaking year with over 10,500 sales processed (an increase of more than 1500 catalogues on the previous year) they also posted substantial operating losses. Against a turnover of £861,638, Invaluable Group Ltd they reported an operating loss of £1.2m in 2004 when they employed close to 50 members of staff.
Invaluable up for sale
Invaluable, the provider of electronic art market intelligence, say it is business as usual despite news that the company is up for sale.
