Monday, November 19

Valuation base gets a boost

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“The acquisition of ValueMyStuff is an important step in expanding our service because reliable and independent valuations are fundamental for the market to work.”

Sweden’s Barnebys Group, a leading global search engine for art and collectables, has announced it has acquired ValueMyStuff, the world-renowned online art and collectables appraisers.

Christopher Barnekow, chief executive and founder of Barnebys, comments: ”Our vision is to lower the entry barriers to auctions, to make it easier for users to obtain knowledge and market oversight, and to enable auction houses or art and antiques dealers to reach new customers.

“The acquisition of ValueMyStuff is an important step in expanding our service because reliable and independent valuations are fundamental for the market to work.”

He says the acquisition is an opportunity to further strengthen one of the key components in Barnebys’ services.

“Barnebys provides an overview of the market and has an archive with 80 million sold items sorted in the same categories, as well as online and individual and independent appraisals.

“The information can be used in preparation for sales, for insurance purposes or financial securities.”

The Barnebys service also assists with one of the most challenging parts of the auction house’s basic business – getting consignments and promoting the inflow of objects for sale.

“Around the world we see a growing need from individuals, as well as from auction houses, wanting easy and quick valuations for their items by competent experts.

“Art market reports in the press show that, currently, under 5% of people use auctions to trade in the secondary market. We expect that figure to double within the next 10 years,” Barnekow says. – Auctions Writer

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