“This is a truly unique opportunity to acquire a turnkey art brand with a captive audience, or any of its valuable individual brand assets,” said Doug Bania, Nevium Intellectual Property Consultants Principal. “The customer list—chock full of prominent collectors from the art and business worlds—would be a tremendous asset on its own.”
Founded in 2011, Paddle8 combined the taste and quality of the traditional art auction industry with a modern ecommerce sensibility, with art, design, jewelry, watches, and collectibles at more accessible price points. In 2016, Paddle8 merged with Auctionata to create one of the top ten art auction houses in the world, outside of China, with 793,000 registered users and more than $150 million in joint annual sales.
Paddle8 has sold works by Jeff Koons, Julian Schnabel, and Damien Hirst, among others, but it is perhaps best known for the 2015 sale of the sole copy of Wu-Tang Clan’s “secret” album, “Once Upon a Time in Shaolin,” which was not released to the public.