Taobao auction total turnover exceeded 10 billion in the first quarter this year according to its announcement on 12 August; the first half of 2014 had YoY growth of 1,528%.
According to China Association of Auctioneers, China online auction total turnover exceeded RMB20 billion in 2013, with growth rate of over 200 times compared with 2012; and, Taobao Auction has become China’s biggest online auction platform. Total turnover of Taobao Auction is expected to exceed to exceed the sum of the Sotheby’s and Christie’s in 2015.
Up to now, more than 500 courts, 10 property rights exchange, and more than 200 domestic and foreign well-known auction houses, galleries, art shops have joined Taobao Auction.