The First Art Newspaper on the Net    Established in 1996 Friday, October 7, 2022


Auction Technology Group to complete acquisition of LiveAuctioneers
John-Paul Savant, CEO, ATG.



NEW YORK, NY.- LiveAuctioneers, one of North America’s favorite destinations for fine and decorative arts, antiques and luxury goods, announced its acquisition by Auction Technology Group plc (LON:ATG). Following the receipt of final approvals required in order to proceed, ATG expects to complete the acquisition shortly. LiveAuctioneers is currently owned by Cove Hill Partners, a Boston-based, long-term oriented private equity firm that invests in consumer internet and technology businesses.

ATG’s mission is to be a trusted partner to the auction industry as it continues its structural shift to online, driving the appeal of secondhand items and accelerating the growth of the circular economy. The acquisition of LiveAuctioneers demonstrates ATG’s commitment to helping auctioneers build their businesses and compete with global e-commerce giants by enabling them to reach a global pool of bidders, while also providing bidders with access to millions of unique and specialized items.

This transaction will enhance the enlarged group’s offering to auctioneers and bidders across the world. It will enable the thousands of auction houses that run their auctions on LiveAuctioneers to benefit from the ability to list their auctions on ATG’s existing marketplaces and reach a wider audience of buyers of fine art and antiques in the UK and EU. ATG’s existing auctioneer clients will have the option to list on LiveAuctioneers, reaching bidders in North America who annually win more than one million items on LiveAuctioneers.com. The acquisition will also enable ATG to integrate LiveAuctioneers’ easy-to-use payments solution across its global business, significantly simplifying this process for auctioneers and enhancing the buying experience for winners.

Under Cove Hill Partners’ ownership, LiveAuctioneers has seen significant growth in recent years, receiving more than 56 million bidder sessions in 2020. The acquisition will bring an estimated 1,600 auctioneers and 120,000 bidders to ATG’s network, as well as 27,000 auctions per year and 1.3 million lots sold. It will also give the company access to the US art & antiques market – a segment that is twice the size of that of the UK. ATG already has a growing presence in the North American auction industry, selling high-value construction and farm equipment on its online marketplace, Proxibid, and food & beverage plus heavy industrial, metal, and woodworking equipment through its BidSpotter marketplace, as well as providing best-in-class white label services through its subsidiary Auction Mobility.

LiveAuctioneers will continue to operate with its headquarters in New York City and be led by CEO Phil Michaelson. ATG’s existing art and antiques marketplaces are thesaleroom.com, which was founded by ATG in 2006, and German fine art and antiques marketplace lot-tissimo.com, which was acquired by ATG in 2018. The Group also operates four marketplaces in the industrial and commercial sector.

Phil Michaelson, CEO of LiveAuctioneers, commented: “Auctioneers and their consignors should be delighted. As part of Auction Technology Group, LiveAuctioneers’ partners will extend their reach to ATG’s formidable network of bidders from 150 countries around the world. Also, LiveAuctioneers will be investing more deeply into making the end-to-end bidder experience at auctions more seamless. This will help small business owners realize the full value of the art and antique items being auctioned and broaden the appeal of live-streamed online auctions as the best path to buy and sell previously owned goods. Together, LiveAuctioneers and ATG team members will help auctioneers to give new life to millions of one-of-a-kind items annually in the categories of art, furniture, home decor, jewelry, and more.”

John-Paul Savant, CEO of ATG, commented: “We are incredibly excited to welcome LiveAuctioneers to ATG. This is a significant milestone that will enhance our ability to support the transformation of the auction industry in its structural shift to online, and brings exciting new opportunities to further enable auctions to play their part in accelerating the growth of the circular economy. We look forward to working with a well-respected and experienced team, allowing us to widen our existing expertise and deliver further value to auctioneers, those who consign to auctioneers, and bidders.

“This combination will enable more auction houses to thrive in an increasingly digital world, extending their reach to bidders globally and bringing bidders access to millions of items. We will have a combined and growing network of c.3,800 auction houses, c.800,000 bidders, and host 70,000 auctions per year. Through further building our presence in the large and rapidly growing US art and antiques market, and adding technology capability and scale, we look forward to continuing to strengthen our partnership with auctioneers in the years ahead.”










Today's News

October 1, 2021

Symbolism Represented in Antique Caucasian Rugs (Part 3)

The Cleveland Museum of Art announces new acquisitions

Met Museum to return ancient sculpture to Nepal

Hindman sets new world auction record for Martin Wong work, selling for $1.1 million

Yale says its Vinland Map, once called a Medieval treasure, is fake

Auction Technology Group to complete acquisition of LiveAuctioneers

Amicable solution for restitution claim: Ketterer Kunst to offer Emil Nolde painting with notable provenance

Elvis vs. Lenin: A superpower confrontation on canvas

Christie's Classic Week features 5 live and 3 online auctions

New major artwork by renowned artist Conrad Shawcross launches in Ramsgate

Minnesota Street Project announces arts leader, Madison Cario as CEO

Milestone's Oct. 2 Toy Spectacular a feast of European & American antique toys

Phoenix Art Museum receives $4 million grant from Virginia G. Piper Charitable Trust

Thought-provoking installation unveiled at City Hall, Jersey City

Review: A choreographer stakes an independent claim

Review: Bill T. Jones' oceanic vision

Positive coronavirus cases halt 'Aladdin' a day after it reopened

Lonnie Smith, soulful jazz organist, is dead at 79

After a choreographer's suicide, ballet confronts tough questions

After a Met Opera Milestone, 'Boris' brings another

In Paris, it's literary scandal season again

Laumeier Sculpture Park explores remembrance, connection, and strength of community in new exhibition

Academy Museum of Motion Pictures opens in Los Angeles

Christie's eyes $2 mln for Wallis Simpson bangle at auction

How You Can Keep Your Washing Machine Well Maintained

Make the Right Health Insurance Choice For You and Your Family in Switzerland

Pop Culture and the Fan Art Phenomenon




Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

sa gaming free credit

Royalville Communications, Inc
produces:

ignaciovillarreal.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site Parroquia Natividad del Señor
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful