What connects a first edition of Harry Potter, an industrial-sized blender and an orthopaedic dog bed? Nothing, other than the fact they were all sold via Auction Technology Group (ATG) last year. This snapshot captures something of ATG’s scope and scale: it links up bidders from 165 countries to more than 3,900 auction houses via eight online platforms, facilitating the sale of 22mn items every year. All lots are vetted and priced before they go under the hammer, and big names such as Sotheby’s and Christie's are on board.
ATG is still small, with a relatively short track record as a public company – it listed on the main market in February 2021 and has a market cap of about £600mn. But it occupies a powerful position in the world of auctioneering. It also bears more than a passing resemblance to UK platform giants Auto Trader (AUTO) and Rightmove (RMV), suggesting there could be plenty more growth to come if it plays its cards right. Sanford DeLand’s Eric Burns, who co-manages the CFP SDL Free Spirit Fund (GB00BYYQC271), certainly thinks so.