Barnebys is proud to present the third Barnebys Online Auction Report - Tomorrow - The View from Today. The report looks into how shopping habits have changed in the past two years, what has influenced these changes, and what this means for business.
"It is clear once again that the key to success for the industry is to understand the consumer" - Pontus Silfverstolpe, co-founder of Barnebys.
The findings have emerged in a wide-ranging study of online behaviour conducted by global search engine Barnebys, which acts as a portal for more than 2,000 auction houses and dealers across the world.
Titled ‘Tomorrow –The View from Today’, the report mines data from over 65 million lots sold at auction, as well as almost 16.4 million user sessions relating to nearly 5 million items coming up for sale.
Summary of principal findings:
Watches and jewellery are two of the fastest growing categories when the auction market take over from peer-to-peer platforms. The single brand most in demand is Rolex.
The importance of brand trust gives the auction industry a major advantage over peer-to-peer platforms.
Over 45s dominate the global auction market and are migrating to mobile.
Decluttering and Downsizing has taken over from Death, Divorce, and Disaster as the most common ‘D’s for consigning to auction when a new generation of client buys and sells more often.
Consignors most frequently find auction houses through online searches
Market grows and buyers are committing to higher spending levels, with a spike in sales between €1000 and €5000.
At the same time, sales under €100 have grown strongly as the market offer diversifies to include more consumer goods, furnishings, etc, while attracting new target groups, including younger buyers.
"It's important to follow this group of buyers, to see where they are heading, what trends are being created, and what categories they are interested in. It's in the lower segments, where many of the loan-conscious customers for auctions houses are available" - Pontus Silfverstolpe.
The United Kingdom - The dedicated art and antiques collectors
Findings for the United Kingdom show that most UK users are more likely to be male and over 65. The typical user is focused on television and film, are technophiles, and have a taste for travel entertainment and news. The great interests lie in art, antiques and collectables including glass, ceramics and furniture, but also jewellery and watches.
With top search words including Rolex, Omega, Cartier, Georg Jensen, Patek Philippe, Picasso and Banksy the UK users also search for terms such as Antique, Art Deco and Japanese.