The leading online auction house Auctionata
has acquired the London-based valuation company ValueMyStuff (VMS). VMS was founded in 2009 by its current CEO Patrick van der Vorst, former President and Head of Department at Sotheby's in London. VMS offers fee-based valuations with a team of over sixty fine art, luxury objects, antiques and collectibles specialists who have formerly worked at major international auction houses. With over 469,000 valuations and 400,000 customers, it is one of the largest online valuation companies in the global market.
Alexander Zacke, founder and CEO of Auctionata, said; Having access to the best experts worldwide is an essential aspect of Auctionatas business model. Through the acquisition of VMS we are able to expand the expertise from which we provide our customers with fast and reliable valuations. As the market leader and inventor of the livestream auction, we are thus not only shaping the user experience for our bidders, but also for our consignors.
Patrick van der Vorst, founder and CEO of VMS, added; The partnership with Auctionata allows us to not only provide our customers access to the best experts, but also a direct path to the most successful online selling channel for their valued items. Van der Vorst will oversee the expansion of Auctionatas global expert network and continue in his role as CEO of VMS.
In 2010, VMS received significant media attention after van der Vorsts appearance on the BBC series Dragon's Den, where he was able to attract a £100,000 investment from Deborah Meaden and Theo Paphitis. As a result of Auctionatas take-over, the two previous shareholders, Meaden and Paphitis, have been bought out. Talking about the success of her investment, Deborah Meaden said; Over the last few years, VMS has shown significant growth and has expanded its business both organically and through acquisitions. It had always been our plan to build and exit and we will be delighted to see the company reach another level with a strong international partner.
The acquisition of VMS constitutes another advance in Auctionatas rapid international expansion, particularly into the United Kingdom. Having grown to become Germanys biggest auction house in less than three years, with revenues of 35.7 million (US $39.7 million) in the first half year 2015, the company is pursuing its track towards market leadership in Europe.