Our strategy

IN FY24, THV was flat year-on-year at $13.2bn partly impacted by asset prices in both sectors with the number of auctions increasing 2% year-on-year to 88,000 and the number of lots listed growing 7% to 23.8m. Auctioneer retention remained very high with auctioneers on ATG stable at 3,900. Furthermore, the roll out of cross-listing between ESN and ATG’s complementary, yet largely distinct, buyer bases helped to grow our total addressable market whilst the roll out of atgShip and atgPay as ATG monetised more of the auction transaction.

The conversion rate decreased 4ppt to 27% in FY24, impacted by mix of assets listed on our marketplaces, including a higher percentage of assets in A&A from auctioneers located outside North America and Europe and a decrease in real estate on I&C, and the impact of the Proxibid rate card changes in FY23. This was partially offset by the development and roll out of atgXL and our integrated white label solution, as well as an updated pricing structure on LiveAuctioneers and thesaleroom which helped to incentivise the adoption of timed auctions.

In FY24, we successfully rolled out of atgXL enabled cross-listing of timed auctions across marketplaces and white label. We also launched cross-listing between ESN and LiveAuctioneers, in addition to the ATG Partner Network, with four additional sites available for auctioneers to cross-list on.

The take rate increased by 0.6ppt to 4.2%, excluding ESN in FY24 driven by growth in the adoption and revenue generation across all three value-added services.

In FY24, we established a cost-efficient technology hub in Mexico, whilst also investing in and progressing with the consolidation of Proxibid into GAP technology platform. 

In FY24, we integrated of ESN into ATG with ESN delivering strong revenue growth in its first full year as part of ATG. We also enabled cross-listing between ESN and ATG’s complementary buyer bases.