Company’s auction revenue up 30 percent YoY, despite challenging art market;
World’s leading online marketplace added 535 auction houses and 220 galleries;
Marquee sponsorship of TEFAF Maastrich & TEFAF New York positions company well in 2017
BOSTON--(BUSINESS WIRE)--Invaluable, the world’s leading online marketplace for fine art, antiques and collectibles, today announced that the company delivered strong auction revenue results in 2016 despite a challenging worldwide auction market, and added more than 750 new auction houses and art galleries to its marketplace.
Rob Weisberg, CEO of Invaluable, said, “Our 2016 auction revenue grew 30 percent year-over-year and buyers on our marketplace grew by more than 14 percent. Fine Art continues to be our best category with sales increasing 32 percent year over year. We’re succeeding despite market headwinds that saw many in the industry report flat, or even negative, revenue results.”
“We help auction houses and galleries reach global online audiences to grow their customer base and demand for their businesses,” Weisberg continued. “The art market is cyclical. Invaluable is a unique and advantageous position to capitalize on the art market upswing and we feel very optimistic about 2017.”
Over the course of 2016, Invaluable:
For additional highlights from the year, please visit Invaluable’s 2016 Year in Review. For more information on Invaluable, to view upcoming auctions and shop from galleries and dealers, please visit www.Invaluable.com.
Invaluable is the world’s leading online marketplace for buying fine art, antiques and collectibles. Working with more than 4,000 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.