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Shift to internet auctions generates 174% increase in online sales
London, 02 March 2010
ATG Media, the UK's leading provider of specialist information and services to the auction industry, saw business soar in 2009. Last year, the-saleroom.com alone recorded a 120 per cent year-on-year increase in bidder numbers and a rise in revenues of 55 per cent year-on-year. The company's second live bidding site, www.i-bidder.com, which auctions white goods, industrial equipment and plant machinery, recorded over ten times more bidders on the site and a remarkable 400 per cent jump in revenues. This strong increase in sales has been driven by a significant shift in appetite towards online auctions, from customers who recognise that combining traditional auctions with a live internet broadcast of the auction, represents the future of their industry.
While UK bidders account for the majority of buyers, on average they spend less than overseas buyers. 76% of buyers are based in the UK and account for 58% of the value of all successful bids. 42% of the value of all online sales are made by the 24% of buyers who live outside the UK.
Anne Somers, Chief Executive of ATG Media, commented:
"We have always had a loyal following from the visitors to our site, but the sharp rise in the number of auctions taking place is due to the success and unique functionality of our online sites. This is driving a new breed of customers, who are going to stay with us for the long term."
The-saleroom.com saw 717 live internet auctions take place in 2009, which is 49% more than the previous year and the total value of lots sold was £8.6 million, an increase of 87% on the previous year. I-bidder.com saw a 400% increase in online sales on the previous year, with £8.7 million recorded for 2009. We saw a 14% rise in auctioneers who used the-saleroom. com to publish their catalogue between 2008 and 2009. And we have already signed up 11 new customers in the first two months of 2010 alone which represents a 10% increase in our online auction customer base.
As well as securing new contracts, ATG Media has recently increased its headcount by 16% to 58, following a run of new hires. ATG Media's significant growth over the last year is a result of the repositioning of the strategy of the business combined with the strength of the UK SME sector. Potential investment opportunities in 2010 mean that the business is now scaling up by entering new markets and expanding its geographical presence.
Note to editors
ATG Media Ltd
ATG Media is the European leader in technology and customer service for live online auctions. To-date, ATG Media has held over 3,600 live auctions online. In 2010, ATG Media held over 1,900 auctions and sold £50m online. As well as having created the-saleroom.com and i-bidder.com, ATG Media also manages bidspotter.co.uk (the US's leading industrial auction site) and powers lot-tissimo.com (Germany's leading fine art and antique auction portal). ATG Media has almost 40 years experience in bringing auctioneers and buyers together via the Antiques Trade Gazette - the bible of the art and antiques trade. The weekly Antiques Trade Gazette continues to thrive having experienced significant increases in advertising volumes and paid circulation in 2010.