Heritage expands online auction sales lead

Jim Halperin

US-based Heritage Auctions achieved auction sales totaling more than $356.6 million in 2014. The figure represents an increase of 42% over 2013 online auction sales at Heritage.

“Online sales are at the heart of our business,” said Jim Halperin, co-chairman and co-founder of Heritage Auctions. “We continue to refine our online model to fit the needs and wants of today’s bidders.”

Heritage’s online auction results for 2014 break down into two parts: bidders who use the Internet only to bid in Heritage auctions – for a total of $198,963,930 – and bidders who used Heritage LIVE!, the company’s proprietary live auction platform, which brought in an additional $157,666,250 in 2014.

“Over the last five years, taken in total, Heritage has realized more$1.3 billion in online auction sales alone. No other auction house in the world comes close – in fact, I doubt any other auction house has sold $100 million online,” said Halperin.

Heritage also posted its best year to date overall in 2014 – and its fifth straight year of growth – with a total of more than $969 million in total prices realized across its auction business ($623+ million in 39 categories) as well as its Private Treaty sales ($345+ million).

Heritage Auctions is the largest auction house founded in the United States and the world’s third largest, with annual sales of more than $900 million, and 900,000+ online bidder members.