Real-time auction site
has raised $20 million (€15.5M) to expand globally, recruit new
talent and develop new technology. The new round is being led by
Earlybird Venture Capital, an investment firm that specializes in
tech European startups with global ambitions. It has backed more
than 80 companies and manages more than $700 million in
Earlybird joins Bright Capital, Kite Ventures, HV Holtzbrinck
Ventures, eVenture Capital Partners and the Raffay Group as
Unlike eBay (NASDAQ:
"all the thrill of the auction room to life for everyone online,
for the first time." The site uses a "patented real-time auction
system" and employs a "team of international experts,
state-licensed auctioneers and highly experienced
On June 21, 2013, Auctionata will sell an original watercolor
by Egon Schiele, a famous Austrian painter who gained notoriety
in the early 20th century. Galerie St. Etienne, the oldest
gallery in the United States that specializes in expressionism
and self-taught art, exhibited
several of Schiele's paintings
Schiele's work has garnered quite a bit of attention on
Pinterest. One fan page (which features a collection of Schiele's
paintings) has acquired
nearly 25,000 followers
"Unlike traditional auction houses, where the excitement
naturally falls off after each auction, the combination of online
auctions and online shop generates a high experience factor for
potential buyers and sellers alike," Alexander Zacke, CEO of
Auctionata, said in a company release. "We are very pleased that
our team of investors now includes another highly experienced
global player like Earlybird bringing expertise in ecommerce and
Auctionata is the first German online fine art and auction
house to sell an original piece by Schiele. The site will sell
"Reclining Woman," one of his most famous creations, for a
starting price of $1.5 million (€1M).
"We look for companies with the potential to be global market
leaders," added Dr. Christian Nagel, co-founder and partner of
Earlybird, who was also quoted in a press release. "Auctionata
sells objects that attract interest worldwide - up to and
including the level of Egon Schiele. No other online vendor
serves this market segment. Auctionata's business model was
developed by two founding figures with decades of experience in
both the art market and online business."
"Reclining Woman" could go down in history as one of the most
expensive items ever sold on an auction site.
listed the most expensive items ever sold on eBay. They included
a small town in California (sold for $1.77 million), a U.S.
missile base ($2.1 million) and a yacht ($140 million).
eBay users could also acquire a meet-and-greet lunch with
Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett
for $2.6 million.
Louis Bedigian is the Senior Tech Analyst and Features Writer
of Benzinga. You can reach him at 248-636-1322 or
firstname.lastname@example.org. Follow him
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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