What began as a website hosting gallery inventory for collectors to browse and buy has turned into a fast-growing fundraising platform for charitable institutions and non-profits.
Cofounded by former Phillips de Pury & Co. director Alexander Gilkes and entrepreneur Aditya Julka, New York-based Paddle8 has expanded beyond the gallery listings to focus on online auctions with a philanthropic thrust. (There are also previews of art fairs, which are often fundraisers for charities, and plans for an inventory management system called ARCHIV8.)
The site offers "benefit auctions" for nonprofits and curated "themed auctions" with a percentage of proceeds going to a charity.
A holiday themed sale titled "FA LA LA" runs through Dec. 20 and features a selection of toys by artists such as Takashi Murakami, Jeff Koons, Tom Sachs and KAWS.
Since late 2011, Paddle8 has hosted about 70 auctions, generating about $10 million in bids, with a commission rate of 5%, low set-up fees, and no public sales records.