Auctionata

About Auctionata

Auctionata AG, founded in 2012 by Alexander Zacke and Georg Untersalmberger, emerged as a notable player in the online art and luxury collectibles market. Zacke, an experienced art expert who had previously managed his family's gallery and worked with eBay, provided the deep industry knowledge, while Untersalmberger brought the necessary technological and business scaling expertise. The company established its headquarters in Berlin and aimed to digitize the traditional auction house model.

The core of Auctionata's business was its online platform, which pioneered the concept of livestreamed auctions for art and collectibles. This allowed a global audience to participate in real-time auctions from their desktops or mobile devices, a significant departure from the physical-only format of established houses. The business model was twofold: it earned revenue through commissions, or buyer's premium, on items sold in its auctions and also operated a curated online shop for direct sales. This dual approach catered to different types of buyers and sellers within the fine art, antiques, jewelry, and classic car markets.

Throughout its operation, Auctionata achieved several milestones, including raising significant venture capital funding from investors like Earlybird Venture Capital, Holtzbrinck Ventures, and Groupe Arnault, the investment vehicle of LVMH's Bernard Arnault. This funding fueled rapid international expansion into markets like New York and London. A key moment in its history was the 2016 merger with its US-based rival, Paddle8, to form Auctionata Paddle8 AG. This move was intended to create a dominant global leader in the online art auction space. Despite initial success and high-profile sales, the company faced significant challenges. Reports of trade violations in Germany, coupled with high operational costs and an intense cash burn rate, created financial instability. Ultimately, the post-merger integration failed to stabilize the business, leading to the initiation of insolvency proceedings and the cessation of all business activities in early 2017.