Data from Invaluable Marketplace Forecasts Strong Auction Market Growth in New Year Following Late Surge in 2017 That Led to ...
January 17 2018 - 1:00PM
Business Wire
Analysis of hammer percentage change at more than 500 auction
houses on Invaluable shows big auction market gains in Sept.-Nov.
led to increase in lots offered, buyers and hammer prices
Invaluable, the world’s leading online marketplace for fine art,
antiques and collectibles, today released an analysis from the
company’s comprehensive database of auction results. The data
indicates that the global auction market, which had been buffeted
by slumping results for 18 months leading into 2017, ended the year
15 percent positive after an autumn surge. That trend is projected
to continue in 2018 - and even accelerate, said Invaluable CEO Rob
Weisberg.
“We predicted last January that the auction market would come
out of a lengthy uneven period and end 2017 with 15 percent
year-over-year growth. In fact, we were spot-on with that figure,”
said Weisberg.
“Our model now shows that auction market growth will continue in
2018 and is anticipated to accelerate. The trend line we’re seeing
predicts more than 25 percent growth by the end of the year. We’re
in the beginning of a positive auction market cycle and these
cycles have historically been two to three years in duration. In
short, we’re looking at a very healthy auction market in the new
year,” added Weisberg.
The analysis, which is based on a representative sample set of
more than 500 auction houses that actively ran live auctions on the
Invaluable marketplace in 2014, 2015, 2016 and 2017, charts the
percentage change in total hammer per auction year over year.
Invaluable data points illustrate the growing strength of the
auction market in 2017:
- Invaluable saw 30 million visits in
2017, up 11 percent yr/yr
- Invaluable’s auction revenue grew 14
percent yr/yr
- Invaluable had the most successful
November in company history – with record numbers of buyers, lots
sold and hammer prices.
For more information on Invaluable, to view upcoming auctions
and shop from galleries and dealers, please visit
www.Invaluable.com.
About InvaluableInvaluable
is the world’s leading online marketplace for buying fine art,
antiques and collectibles. Working with more than 5,000 of the
world’s premier auction houses, dealers and galleries, Invaluable
helps buyers from nearly 200 countries connect with the things they
love. With best-in-class online bidding technology, along with
a fixed-price retail platform, Invaluable provides sellers with
e-commerce and marketing solutions, as well as auction management
software. Recently called “one of the fastest growing e-commerce
sites in the art world” by Blouin ArtInfo, Invaluable has also been
recognized by Deloitte’s Technology Fast 500™ and the EY
Entrepreneur Of The Year® program in both 2015 and 2016.
Headquartered in Boston, Invaluable also has offices in the United
Kingdom, France, Germany, Belgium and Australia. For more
information, visit www.invaluable.com or follow us on
Twitter at @InvaluableLive.
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InvaluableAndrew Gully, 978-886-3200agully@invaluable.com