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Invaluable Reports Strong First Half 2018 Results for Online Auctions

CEO says double-digit growth and record numbers of buyers and lots sold during Spring sales point to continued success through year’s end

Monday, July 23, 2018 9:45 am EDT

Dateline:

BOSTON
"one of the fastest growing e-commerce sites in the art world"

BOSTON--(BUSINESS WIRE)-- Invaluable , the world’s leading online marketplace for fine art, antiques and collectibles, today reported results for First Half 2018 showing double-digit growth across a range of company benchmarks – clear indicators of the strength of the online art market.

“It’s been a very successful first half of the year for auction houses on the Invaluable marketplace,” said CEO Rob Weisberg. “The three most successful months in company history, with record numbers of buyers and lots sold, came this spring - March, May and June. We’re excited to say that our projections show the online art market will continue to show strength through the end of the year.”

The first half 2018 results, which are year-over-year comparisons, include:

  • Live auction sales on the Invaluable platform totaled $193.7m, up over 29%
  • The number of lots sold increased by 25%
  • The number of unique buyers on Invaluable climbed 21%
  • Invaluable.com tallied 18 million visits, up 30%
  • Visits by mobile device users jumped 43% - to 6.3 million
  • Lots sold in eight top categories – fine art, collectibles, Asian art & antiques, furniture, jewelry, decorative arts, wine & spirits, and dolls, bears and toys – are all up this year; in some cases, dramatically. For example, the number of lots of fine art sold rose 45%, collectibles 31% and Asian art & antiques, 43%

Also this year, Invaluable:

  • Secured a U.S. Utility Patent that paves the way for the company to consolidate and streamline online bidding technology for auction houses across the industry. The Invaluable technology offers a far simpler and more efficient future in which auction houses can upload a catalog to Invaluable and list with all marketplaces. The goal: one listing fee, one upload, one approval process, one registration and one clerk. Weisberg called it “a game changer for Invaluable and auction houses everywhere.”
  • Announced it will host the 2019 Global Auction House Summit in London - again convening leaders from top auction houses and industry experts to explore challenges and opportunities and the future of the market. The invitation-only event – “Navigating Our Transforming Industry” - will be held Feb. 4-6, 2019 at The Landmark London hotel and will feature exceptional panels, round-table discussions and keynote addresses. This is the second Global Auction House Summit hosted by Invaluable; the inaugural gathering was held in Boston last September.
  • Launched the Invaluable app on Android, available at Google Play Store. This expanded the company’s suite of mobile bidding options, which also includes the Invaluable app for iPad and iPhone and mobile-optimized website.

For more information on Invaluable, to view upcoming auctions and shop from galleries and dealers, please visit www.Invaluable.com.

About Invaluable
Invaluable 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.

Contact:

Invaluable
Andrew Gully, 978-886-3200
agully@invaluable.com