Auction Technology Group features in LSE’s 1000 Companies to Inspire Britain
ATG has been included in the London Stock Exchange Group’s 1000 Companies to Inspire Britain 2019. The annual report identifies and celebrates the UK’s fastest-growing and most dynamic SMEs
John-Paul Savant, CEO, ATG, said, “We give tens of millions of customers easy access to the incredible value and millions of unique items we help sell each year. ATG is transforming not only the way people see the secondary art market, but how they buy and sell within it.”
In 2018, ATG facilitated 14,189 auctions, which sold over 12,000 lots per day. “We are making buying at auction accessible, easy and transparent,” says John-Paul. “We are disrupting the way people see buying and selling on the secondary market, opening it up beyond seasonned bidders to consumers from all over the world and making it easy for anyone to search, bid and buy online.”
ATG has been thriving in recent years, selling to users in 148 countries, which it puts down to its ability to flourish during any economic climate. “Auctions tend to do well in good times and in bad, so more than being counter-cyclical, we are cycle-neutral. In good times, people have disposable income and buy more, often seeking unique or special items. In less good times, people offload assets to cover shortfalls and seek bargains.
“I believe we are disrupting the secondary market the way Amazon did for books, Auto Trader did for cars or one of many online property portals are doing for real estate,” says John-Paul. “In 2018, over £1.2trn was sold on the top 75 marketplaces and over 50% of global online sales took place on marketplaces. This is a growing trend and one we are well positioned to lead for our industries.”
David Schwimmer, CEO, London Stock Exchange Group: “Congratulations to all the companies selected for inclusion in the sixth edition of London Stock Exchange Group’s 1000 Companies to Inspire Britain report, which identifies the UK’s most dynamic SMEs. SMEs drive growth, innovation and job creation and are the lifeblood of the British economy. We believe that supporting the growth of these businesses is critical to the UK economy and the creation of a society that works for everyone.”
For further information about the LSE’s 1000 Companies to Inspire Britain, click here.