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Earlybird invests in AuctionataBerlin, New York, )
Auctionata raises $20M for global expansion of online live auctions - art, antiques & collectibles
Earlybird Venture Capital joins Bright Capital and Kite Ventures in latest funding round
Egon Schiele's watercolor Reclining Woman will be auctioned online with a starting price of $1.5M (€1M) on 21 June 2013
Earlybird invests in online fine art and auction house Auctionata, joining its team of investors including Bright Capital and Kite Ventures (in December 2012) as well as HV Holtzbrinck Ventures, eVenture Capital Partners and the Raffay Group. With this round of financing the Berlin-based Startup Auctionata has raised $20.2M for global expansion, recruiting and technology platform growth.
As the first patented online producer of live auctions, Auctionata covers the entire spectrum of an auction house; from expert curation to its unique, HDTV-production quality, fine art online auction events. Auctionata's vision is to open the international art, antiques and collectibles markets to consumers, making it accessible to everybody through the Internet.
For the buyer, Auctionata brings the auction thrill into the living room and offers a wide selection of significant objects in an online shop. Auctionata exclusively offers a 25 years guarantee of authenticity on all sold objects. For the seller, Auctionata offers a proven, trusted and highly-produced online selling experience. The company has approx. 250 internationally renowned specialists (who appraise and curate all objects for sale), the largest network of experts worldwide. With its full service, Auctionata reaches millions of private sellers, collectors and dealers, who find it difficult to sell in regional and highly fragmented, old-style auction houses.
Dr. Christian Nagel, co-founder and partner of Earlybird states "We look for companies with the potential to be global market leaders. Auctionata sells objects that attract interest worldwide - up to and including the level of Egon Schiele. No other online vendor serves this market segment. Auctionata's business model was developed by two founding figures with decades of experience in both the art market and online business."
On 21 June 2013 Auctionata will be the first German online fine art and auction house to sell an original watercolor by Egon Schiele (his famed Reclining Woman) in an online live auction from its own TV studio, with a starting price of $1.5M (€1M).
"Unlike traditional auction houses, where the excitement naturally falls off after each auction, the combination of online auctions and online shop generates a high experience factor for potential buyers and sellers alike," said Alexander Zacke, CEO of Auctionata. "We are very pleased that our team of investors now includes another highly experienced global player like Earlybird bringing expertise in ecommerce and technology platforms."
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