Auctions

Swiss firm invests in watch auction market

AuctionsMay 18, 2014

Swiss firm invests in watch auction market

Investment firm Fides Business Partner has made a “strategic capital investment” in Antiquorum Auctioneers, the timepiece auction house announced recently.

Zurich--Investment firm Fides Business Partner has made a “strategic capital investment” in Antiquorum Auctioneers, the timepiece auction house announced recently.

The intention of Zurich-based Fides, Antiquorum said, is to tap into the growth potential of the company through a focused strategy that will placed continued emphasis on its timepieces, expertise and customer service, further securing Antiquorum’s position as an industry leader.

Fides also is aiming to expand Antiquorum’s presence into new key markets around the globe.

The opportunity-based investor group sinks capital in mid-size companies with a revenue base of $33 million to $112 million, selecting businesses that have attractive market potentials and are able to demonstrate specific and unique selling points.

Their partnership with Antiquorum marks the firm’s first investment in the watch market.

“Antiquorum offers very valuable assets including a strong historic brand, excellent expertise in modern and vintage timepieces, and an outstanding network of passionate collectors,” Fides Business Partner co-founder and CEO Giulio De Lucia said.

He continued, “Fides is eager and proud to collaborate with Antiquorum to maximize its assets and secure its dominance as a unique and focused brand in the watch auction market. We greatly value Antiquorum’s entrepreneurial spirit and look forward to building upon its strengths by applying a focused growth strategy that will enhance the customer experience and result in a leading market position.”

Fides also has invested in banks Raiffeisen, Acrevis and St. Galler Kantonalbank; Swiss IT provider Netcetera; and international law firm Froriep, among others.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

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