Paddle8 and Auctionata Merge to Form Global Online Art Auction Giant
Online auction platforms Paddle8 and Auctionata have announced their merger, creating one of the top 10 auction houses globally outside China. The combined entity will have a sales volume of over $150 million and approximately 800,000 registered users. Auctionata, based in Germany, is the leading online auction platform in Europe, while Paddle8 dominates the US market in art, collectibles, and luxury vintage. Alexander Zacke, former CEO of Auctionata, will lead the new board of directors. Aditya Julka, co-founder of Paddle8, stated that the merger will allocate more resources to innovation across the collecting process, from online valuation to post-sale services. The merger reflects a trend of consolidation in the globalized art market.
Key facts
- Paddle8 and Auctionata merge to form a global online art auction company.
- Combined sales volume exceeds $150 million.
- Combined registered users: approximately 800,000.
- Auctionata is the leading online auction platform in Europe, based in Germany.
- Paddle8 is the largest online auction platform in the United States.
- Alexander Zacke, former CEO of Auctionata, will chair the new board.
- Aditya Julka, co-founder of Paddle8, emphasized innovation and expanded services.
- The new entity ranks among the top 10 auction houses worldwide, excluding China.
Entities
Institutions
- Paddle8
- Auctionata
- Artribune
Locations
- United States
- Germany
- Europe
- China