BOSTON, April 17 /PRNewswire/ -- Following Tuesday's announcement by
 eBay that it will exit the live online auction business, Artfact today
 announced the launch of Artfact Live!, including an online bidding platform
 and audio/video broadcast services.
 
     Artfact Live! is a next-generation online marketplace connecting the
 world's 1,000 leading auction houses with the 6 million most active
 collectors and dealers of art, antiques, and fine collectibles.
 
     Artfact Live! integrates RFC Systems, Artfact's leading auction
 management software developed over the last 20 years, with its proven live
 online bidding technology, so that premier auction house partners - such as
 Artcurial, Charlton Hall, Doyle New York, Eldred's, Gorringes, Galerie
 Koller, I.M. Chait, Leslie Hindman, Lyon & Turnbull, Spink, Swann
 Galleries, Tajan, Weschler's and others - may offer live online auctions to
 the Artfact.com and Invaluable.com communities of avid collectors and
 dealers.
 
     Rod Funston, President of Artfact, creator of its RFC auction
 management software and long-time IT advisor to the auction house industry
 said, "eBay demonstrated the potential of a live online bidding platform to
 auction houses. However, many traditional auction houses are disillusioned
 with eBay's lack of focus on their specific needs. For years, quite a few
 of our top-tier auction house partners have been asking us to help them
 establish their own global marketplace, engineered to their unique needs.
 So, in many ways I feel we have been preparing for this day for 20 years."
 
     Today, 6 million dealers and collectors of art, antiques, and
 collectibles use Artfact.com and its U.K. sister site Invaluable.com to
 find what they want at more than 1,000 of the world's finest traditional
 auction houses. In the first quarter of 2008, Artfact.com and
 Invaluable.com listed over 1,000,000 lots for sale at upcoming auctions.
 Today alone, Artfact lists more than 120,000 such lots to be sold at
 auction within the next three weeks, with a total estimated value exceeding
 $500 million (250 million pounds Sterling).
 
     In 2007, Artfact sent more than 35 million email alerts matching
 bidders' collecting preferences with lots available for sale by auction
 house partners. The number of bidders and email alerts have more than
 doubled each year. Bidders use Artfact's price database, representing about
 $90 billion (45 billion pounds) in unabridged auction results, to research
 and make informed decisions about bidding.
 
     Artfact Live! (and Invaluable Live! in the U.K.) focuses exclusively on
 the fine art, antiques, and collectibles market, and does not include
 industrial, real estate, agriculture, equipment, and other such categories
 due to the differences in bidder behavior and expectations and unique
 requirements of the fine auctioneers.
 
     Adam Kirsch, Chairman of Artfact, said, "The Artfact Live! marketplace
 offers fine auction houses access to a vetted community of more than 6
 million highly qualified bidders. eBay's decision to pull out of the live
 auction market demonstrates the need for focus and experience when dealing
 with these prestigious auctioneers. Our proprietary approach protects the
 interests of auction houses and their valued consignors. The 6 million
 bidders in our marketplace are professionals and educated aficionados who
 already understand how fine auctions work, and appreciate the myriad of
 ways that online bidding frees them from geographic and time constraints.
 Artfact Live! is a true win- win-win for fine auction houses, their
 consignors, and qualified bidders that need online access!"
 
     Background:
 
     Artfact.com is the largest global marketplace of fine and decorative
 arts, antiques, collectibles, and estate auctions. Over 1,000 fine
 auctioneers actively list their catalogues with Artfact.com and its U.K.
 sister site Invaluable.com, resulting in more than 100,000 fine and
 decorative art objects and collectibles for sale at upcoming auctions
 daily.
 
     Over the past 20 years, the Artfact community has grown to more than 6
 million knowledgeable collectors and dealers worldwide. The Artfact.com and
 Invaluable.com websites receive more than 20,000 visits daily, and sent
 more than 35 million email alerts in 2007 matching bidders' collecting
 preferences with lots available for sale by its auction house partners.
 
     Originally founded in 1989 as an auction catalogue processor and
 auction results database for Sotheby's, Christies, and other fine
 auctioneers, today Artfact is the global leader in fine auction information
 listing over 100,000 lots for sale daily at the best auctioneers around the
 world, and about $90/ 45 billion pounds in unabridged past auction results
 including works by over 500,000 international artists.
 
     Artfact's RFC Systems software manages the entire business of
 prestigious auction houses in seven countries and four languages, including
 Artcurial, Charlton Hall, Doyle New York, Eldred's, Gorringes, Galerie
 Koller, I.M. Chait, Leslie Hindman, Lyon & Turnbull, Spink, Swann
 Galleries, Tajan, and Weschler's. Artfact systems include live online
 bidding with audio and video, in conjunction with e-commerce partner eBay
 and, starting in 2008, directly from Artfact.com and Invaluable.com.
 
     In 2007, Artfact purchased Invaluable.com, the leading provider of
 auction marketing services and databases to the United Kingdom market.
 Today, the Invaluable team on the Isle of Wight continues to provide U.K.
 clients with industry-leading service and support.
 
 
 

SOURCE Artfact