Artfact Joins Forces With Auctionzip, Secures $13 Million In Progress Funds Loans

Artfact, the world's foremost on the net settle public sale marketplace announced

these days its merger with Auctionzip, the world's greatest directory of live public sale listings. Simultaneously, Artfact closed a $13 million development funds financing made available by Boston-based Commonwealth Capital Ventures and Ascent Venture Partners. Aside from that to facilitating the merger, the funding will be applied to expand merchandise advancement, advertising, and sales efforts.

Combined, Artfact and Auctionzip offer above 16,000 estate auctioneers of all sizes throughout the world using a finish variety of technology and internet marketing services which includes online live bidding, and integrated auction management software system. By means of their internet sites Auctionzip.com, Artfact.com, and Priceless.com, the companies allow for 2 million fine art, antiques, and collectible retailers and collectors unprecedented access to research over 160,000 estate auctions every year which includes a mixed worth of around $25 billion.

Adam Kirsch, Chairman and CEO of Artfact, stated, "Auctionzip's founders, Joe Koval and Steve Johnson, have built the only complete public sale listing service for the fragmented U. S. estate auctions market. With each other, Auctionzip and Artfact grant estate auctioneers and their dealer/collector bidders while using largest via the internet market place dedicated entirely towards exclusive demands of dwell auctions."

Steve Johnson will carry on as Auctionzip's President, and offered his remarks; "Merging with Artfact is really a logical step for Auctionzip now. Auctioneers listing on Auctionzip.com received above 200,000 absentee bids during the final year from your Auctionzip.com bidding community of throughout 1 million monthly one of a kind users. In March, 2010 Auctionzip will launch Auctionzip Reside utilising Artfact's top are located bidding technological know-how and market management solutions to become a true stay bidding marketplace just like Artfact Stay."

Moving forward, just about every corporation will preserve its distinct brand, website, and office area in Allston Massachusetts (Artfact), Bedford, Pennsylvania (Auctionzip), and also the Isle of Wight, U.K. (Invaluable).

About Artfact and Auctionzip:

Founded in 1989, Artfact is a greatest international markets of fine and decorative arts, antiques, collectibles, and estate auctions. On January 1, 2009, Artfact launched Artfact Exist! and Priceless Settle!, its proprietary reside public sale bidding platforms, enabling much more than 1 million knowledgeable collectors and traders to bid in real-time at much more than 150 prestigious auction houses.

Auctionzip is the world's biggest directory of settle auction listings. Founded in 2003, Auctionzip lists much more than 160,000 estate auctions from 15,000 auctioneers in your U.S. and Canada each year. Auctionzip attracts approximately one.2 million distinct website visitors per month and will be the go-to destination for collectors and traders during the estate auctions and collectibles marketplace.

Artfact's industry-leading RFC public sale management software programs assists prestigious art work and estate sell houses around the earth to control their corporations correctly; its retail selling price databases of 55 million complete market benefits with much more than $200 billion in worth permit auctioneers and bidders to superior evaluate fine art, antiques, and collectibles

by: Lina Oster

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