News Column

Invaluable Finishes 2013 Strong with Record-Breaking Fourth-Quarter Results

February 6, 2014

Strongest Quarter in Company History Achieves 102 Percent Increase in Gross Merchandise Sales BOSTON --(BUSINESS WIRE)-- Invaluable , the world’s largest online live auction marketplace, today announced record-breaking fourth-quarter 2013 results with a 102 percent increase in gross merchandise sales over the same time period in 2012. The company’s robust growth this quarter was driven by an 80 percent increase in buyer transactions, which was fueled by world-class merchandise available through the Invaluable platform. In the fourth quarter of 2013, the number of auction houses partnering with Invaluable also increased dramatically, as more auctioneers leverage the Invaluable marketplace to drive greater bidder demand and overall sales performance. Invaluable’s strong quarter results come on the heels the company’s re-branding to Invaluable from the former Artfact brand, as well as the launch of a new website and enhanced online experience in November 2013 . “The fourth quarter of 2013 was one of the most exciting in our company history,” said Invaluable CEO Rob Weisberg . “More and more auction houses are turning to Invaluable to increase the reach of their sales by providing access to millions of online bidders, and in turn, more consumers are able to bid on and win the items they are most passionate about.” Leading to the company’s strong fourth quarter results were a number of high profile sales on the Invaluable platform from October to December 2013 , ranging from fine art and antiques to historical documents and Hollywood collectibles. Of particular note were a series of Hollywood costumes sold through Invaluable from the “Hollywood Auction” put on by Profiles in History in December 2013 . These include a “Dorothy” test dress worn by Judy Garland in The Wizard of Oz, which sold for $200,000 , as well as a historic collection of costumes worn by Christopher Plummer and others in The Sound of Music, which sold for $150,000 . The signature “Snow Globe” three-piece suit worn by Orson Welles in Citizen Kane sold for $110,000 , while the signature Willy Wonka costume worn by Gene Wilder in Willy Wonka & the Chocolate Factory sold for $70,000 . Additional sales highlights from the Q4 2013 sold through the Invaluable platform include: An exquisite White Jade Boulder , finely carved into a basket with citrus fruit on a custom wooden stand, sold for $231,288 CAD (approx. $207,554 USD ) by 888Auctions in Ontario, Canada . The painting “Winter Harmony” (Winter Evening) by American Impressionist landscape painter Edward Willis Redfield (1869-1965) sold for $150,000 through Freeman’s in Philadelphia, PA. A series of nearly 140 autograph letters from George III, King of Great Britain , sold through auction house Profiles in History, located in Calabasas Hills, CA , for $130,000 . The painting, A Tibetan Woman , by Russian artist Svetoslav Nikolaevich Roerich (1904-1993) sold for £64,688 GBP (approx. $107,149 USD ) by Lyon & Turnbull located in Edinburgh, UK . A Tiffany Chandelier decorated with nasturtium flowers, stems and leaves sold for $75,000 through James D. Julia auction house in Fairfield, ME . A 1929 Rolls-Royce 20/25 Hooper Landaulet sold for $78,400 AUD (approx. $68,968 USD ) through Theodore Bruce auction house in Sydney, Australia . Handwritten lyrics for “Riders on the Storm” from Jim Morrison of The Doors were sold through Profiles in History for $55,000 . About Invaluable Invaluable is the world’s largest online live auction marketplace, featuring a live online bidding platform that allows collectors to bid in real-time in auctions held around the world. As the leading developer of SaaS and ecommerce applications for the auction industry, Invaluable provides auctioneers with marketing and e-commerce solutions across Invaluable and AuctionZip web properties, as well as access to RFC Systems, the company’s auction management software. Invaluable’s best-in-class historical price database includes more than 58 million complete auction results, totaling more than $204 billion in value. Founded in 1989 in Boston , Invaluable also has offices in Pennsylvania and the United Kingdom . For more information, visit www.Invaluable.com . Invaluable Colleen McCormick , 617-746-9825 Director of Communications cmccormick@invaluable.com Source: Invaluable


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Business Wire


Story Tools