Published: December 4, 2018
STOCKHOLM, SWEDEN — Sweden’s Barnebys Group recently announced that it has acquired ValueMyStuff, an online art and collectibles valuation service.
Christopher Barnekow, chief executive officer (CEO) and founder of Barnebys, said, “Our vision is to lower the entry barriers to this fantastic market, making it easier for the users to get knowledge and market oversight as well as for the auction houses or art and antiques dealers to reach new and greater customer groups. The acquisition of ValueMyStuff is an important step in securing our service offer, as reliable and independent valuations are fundamental for the market to work.”
The firm stated that the acquisition is a unique opportunity to further strengthen one of the key components in its ecosystem, providing a service for every user in the market. Barnebys provides an overview on the market, 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 of sales, for insurance purposes or as financial securities. The Barnebys service also assists with one of the most challenging parts of the auction houses basic business — getting consignments and the promoting the inflow of objects for sale.
“We see growing need from individuals as well as from auction houses around the world wanting easy and quick valuations for their items by competent experts. Art market reports in the press show that currently, under five percent of people use auctions to trade in the secondary market. We expect that figure to double within the next ten years,” said Barnekow.
Patrick van der Vorst, CEO of ValueMyStuff, commented, “I am delighted that Barnebys has acquired ValueMyStuff. I have been watching the rise of Barnebys in the art space over the past seven years and am very pleased to be a shareholder in their company and to assist them in an advisory capacity going forward.”
ValueMyStuff’s website claims more than 500,000 users and provides customers with online valuations of their art, memorabilia, wine, watches and any other assets in more than 48 collecting categories. Founded in 2010 by Patrick van der Vorst, former director of Sotheby’s Europe, the website is powered by a team of 62 experts who worked formerly for Sotheby’s, Christie’s and Phillips.
For information, www.barnebys.com or +46 70 521 35 70.
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