Auction platform Invaluable is hosting its third Global Auction House Summit in Paris February 3-5. The summit is to "examine the rapidly evolving online art and auction market and identify opportunities for growth."
The theme for this years summit is technology and building winning strategies in the auction market. It is an invitation only event with more than 200 experts epected to attend.
Invaluable reports on the summit
Source: Yahoo/Invaluable Press ReleaseBoston, MA, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Invaluable will convene representatives from the world’s top auction houses in Paris in early February for the third Global Auction House Summit – the only gathering of its kind in the industry - to examine the rapidly evolving online art and auction market and identify opportunities for growth.
The invitation-only event, themed Technology and Transformation: Building Winning Strategies, will be held at The Westin Paris – Vendome from Feb. 3-5.
This is the third time Invaluable – the world’s leading online marketplace for fine art, antiques and collectables - has hosted the Summit and it will be the largest, with more than 200 industry experts attending. The three-day event will feature panels, addresses and interviews with CEOs and leaders of many of the Top 250 auction houses, as well as noted art experts and key influencers from across the art, auction and e-commerce industries.
“We’re proud to host this inspiring event – the only one of its kind – designed to bring auction industry leaders together in the pursuit of innovative solutions to propel our businesses forward,” said Rob Weisberg, CEO of Invaluable. “We know the business landscape that auction houses confront each day is highly competitive, increasingly global, constantly connected and inherently hectic.”
Topics include mega trends in the middle market, expanding auction house digital footprints, navigating art law, the glamorous (and profitable) intersection of art, luxury and retail, preserving cultural heritage in the digital age and the state of the Chinese art market in these uncertain times. Also included will be demonstrations and information sessions hosted by a select industry-leading sponsors. See full schedule here.
The Summit will convene as the global art market seeks to rebound from a slowdown in 2019. One bright spot was the continued growth of online sales.
“At Invaluable, we have auction house partners in 52 countries – many of whom will be represented at the Summit – and buyers in 180 countries. In 2019, a tough year for our industry, the number of sales on the Invaluable marketplace increased by a staggering 17% over the previous year, despite market headwinds,” said Weisberg.
“Nearly 60% of all traffic to Invaluable is now derived from consumers via a mobile device, a number that keeps climbing each year and illustrates the fact that bidders are on the move like never before. Top bidders have come to expect access to the auction room floor despite geographical distance, language, currency or time zone. Global is the new local,” he added.
While only a snapshot in a traditionally slow Q1, January hammer on Invaluable is up 14% year-over-year, driven by strong increases in the sales of collectables, jewelry and furniture. “It’s been a good start to the year and we see it continuing in 2020,” added Weisberg.
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