ECI-backed ATG buys Lot-tissimo

The combined group will host 18,000 auctions a year, with more than £2bn going under the hammer.

ECI bought a majority stake in ATG in June 2014, allowing Mobeus to make an exit while retaining a significant minority stake. Mobeus reported an IRR of 20% on the divestment.

ECI drew capital from its ninth fund to support the original transaction; the £430m vehicle held a final close in 2008. 

Auctioneers will now be able to list and broadcast their sales on Lot-tissimo.com, auction.fr and the-saleroom.com using a single application.

Company
Lot-tissimo was founded in 2002 by Jörg Wisniewski. The Hamburg-based company began collaborating with ATG in 2010 by using its live bidding technology to host live online auctions. It works with 250 auctioneers in Germany, France, Spain, Italy, Switzerland, Belgium, the Netherlands and Austria to provide an online marketplace focused on art & antiques. Recent high-value lots sold on Lot-tissimo include a painting by Karl Ferdinand Wimar for €115,000; a WW2 Jagdpanzer self-propelled anti-tank gun, sold for €110,000; and an Urban Jürgensen & Sonner pocket watch, sold for €120,000.

People
ECI Partners – Tom Wrenn (partner).
Auction Technology Group – John-Paul Savant (CEO).
Lot-tissimo – Jörg Wisniewski (CEO).

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• Topics
• Expansion
• DACH
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• Germany
• ECI Partners
• Build-up