Specialising in Contemporary art in the $1000-100,000 price bracket, the firm focuses on timed sales.
Auctionata launches in Berlin.
The firm focuses on live ‘real time’ online sales.
Auctionata sells an Egon Schiele watercolour for €1.5m.
Auctionata expands into New York Co-founder Alexander Zacke tells Bloomberg he “doubts there’s room for more than one big site. The question is, who is going to occupy this space?”
Auctionata attracts $45m funds from investors including LVMH’s Bernard Arnault.
Auctionata restructures. Staff laid off in New York and Berlin.
Paddle8 moves into two floors of the Bloomsbury Auctions building in Maddox Street. Its team in London grows from one to 15 people across the year.
Auctionata sells a Qianlong automaton clock for €3.37m.
The winning bidder, Liu Yiqian, founder of Shanghai’s Long Museum, makes his bid by phone.
Auctionata acquires the sevenyear- old London-based valuation company Value My Stuff.
High-profile names including David Zwirner, Jay Jopling and Damien Hirst bankroll the Paddle8 brand to the tune of $34m, bringing the company’s total fundraising to $44m.
A report by accounting firm KPMG accuses Auctionata of a number of serious trade violations and ethical breaches, including the suggestion that company executives had received generous advances on consignments and operated a shill bidding scheme.
Auctionata and Paddle8 merge to form a company claiming $150m in joint annual sales. Zacke says “it makes sense to join forces as you close in on the summit”.
More than a dozen people leave Paddle8 as the company seeks to bring together two websites and two customer databases.
Fellow online auctioneer, ArtList, folds after two difficult years.
Alexander and Susanne Zacke leave the management team of Auctionata.
Auctionata-Paddle8 files for preliminary insolvency.