John-Paul Savant
Consolidation in the online art market has been long expected – but slow in coming. Last month Auction Technology Group, parent company of Antiques Trade Gazette, upped the ante with its purchase of German platform lot-tissimo, founded in 2002 by Jörg Wisniewski. Initially focused on auctions in Germany and Austria, the portal now lists art and antiques auctions from across Europe.
The commercial arguments for platforms in this space to merge are compelling: the art market is increasingly global, fuelled by maturing internet platforms which by combining can share technological know-how and operating costs. But what’s in it for customers: bidders and auctioneers?