NewsEconomicsBoom in online auctions: over 500 million euros spent

Boom in online auctions: over 500 million euros spent

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The second year of the pandemic sets three new records for the online auction industry: in 2021 more than 500 million euros were spent and over a million people made a bid on the more than 3.5 million items gone up for auction on Catawiki. These are some of the data that emerge from the Catawiki report 2021, the analysis carried out by the leading online auction platform in Europe, which summarizes the trend of the last 365 days and which confirms the constant growth of the portal and, in general, of the sector. A success also witnessed by the appreciation of consumers belonging to the ‘Generation Z’ who, as digital natives and technology enthusiasts, have approached the world of online auctions with a growth rate of 21% compared to last year. in addition, professional sellers and amateurs – over 200,000 in 2021 globally, more than half of them new users of the platform – who, to generate extra income in a complicated period and to approach an international clientele, have used Catawiki to sell items rare and exclusive. “We are witnessing – said Ravi Vora, CEO of Catawiki – a real social change: while years ago the auction sector was perceived as an elite and niche sector, now the interest in online auctions of unique and special items is touching unprecedented levels. With over 1 million people bidding on Catawiki last year and continuing double-digit growth among the younger generations, Catawiki is at the center of this change. ”The volume of purchases by Italian consumers in 2021 exceeded the 100 million euros, with an average cost of around 1,000 euros, making our country Catawiki’s main market. Over 230,000 Italians made an offer, 55% of whom were new to the platform. The categories that found the greatest success were wine, decorative objects, modern and contemporary art, jewelery and watches, with a particular mention for champagne which recorded a growth rate of almost 60% compared to the previous year. . A testimony that Italians wanted to pamper themselves with objects of art or design, fine wines and jewels as an emotional antidote to the distancing of the lockdown era. Generation Z visitors increase (+ 40% in Italy compared to 2020) – those between 18 and 24 years old – who decide to buy items through the platform. Users between the ages of 25 and 34 continue to be the most representative age group, equal to 25% of the total bidders. Italian sellers in 2021 auctioned over 600,000 objects, for a total value of almost 102 million euros, which were mostly purchased by Italian buyers (34%) followed by French (over 14%) and Dutch (almost 12%). The audience of the tricolor sellers is essentially made up of ‘amateurs’ who represent the vast majority of the total and manage to earn over 3,000 euros a year with collectibles or precious rarities found in the cellar or in the attic. The remaining minority, on the other hand, is made up of professionals who sell about a third of the total objects (over 223 thousand) and, thanks to the possibility of approaching an increasingly large number of international buyers in safety, they manage to earn an average of about 60,000 euros. the year. “Italy closed 2021 with excellent results and establishing itself as Catawiki’s main market in terms of spending generated. Buyers and sellers have trusted our portal to auction or buy rare and special items. We are happy that more and more young people are approaching our platform, recognizing Catawiki as a safe place to make one-of-a-kind purchases. We have noticed a substantial number of users who have used Catawiki for the first time this year; users certainly attracted by our long-lasting experience and the knowledge of our 250 experts who examine and select each object before it is auctioned: a combination that gives life to an extraordinary shopping experience “said Federico Puccioni, vice president of Catawiki On the podium of the most exclusive items sold on Catawiki in 2021 we find a rare Colombian necklace with emerald and diamonds – 100,000 euros and a bottle of 1949 Macallan whiskey sold for 71,000 euros. Then there are other objects such as a Tin Tin comic sold for 10,300 euros, the most expensive bottle of wine of 2021 – 15,500 euros purchased in Italy and a bicycle by Wout van Aert of Team Jumbo Visma – 16,250 euros. Space also for news, in 2021 the first NFT auction was created on Catawiki with over 100 digital works created exclusively by the artists Aiiroh, Noble $$ and Sinao for the Mind The Gap label.

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