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27

Online Auction House Aims to Give Big Houses a Run for Their Money

By Tony Seruga

Think of an auction house, and centuries-old institutions like Sotheby’s and Christie’s probably spring to mind.

But a four-year-old start-up believes that it can become something of an online equivalent to those companies — and it has drawn big-name backers from the art world along the way.

The venture, Paddle8, plans to announce on Wednesday that it has raised $34 million in a new round of financing. Among those participating is the New York gallery owner David Zwirner, who is joining the company’s board…

Online Auction House Aims to Give Big Houses a Run for Their Money

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