Auctionet buys up Crafoord Auctions, a Lund-based competitor.

Auctionet, a Stockholm, Sweden-based company providing an online art marketplace, announced the purchase of Crafoord Auctions, an auction house which holds events every second Saturday in an old custom house in the very city center of Lund. The financial details of the transaction remain undisclosed.

Crafoord Auctions is the largest auction house in southern Sweden and has since 2009 been an independent subsidiary of Uppsala Auktionskammare, led by CEO Magnus Bexhed.

Auctionet, founded in 2011 by CEO Niklas Söderholm and Tom Österman, is a Stockholm-based marketplace where auction houses from all over Europe sell furniture, art, design items, collectibles and more.

Auctionet has been backed with almost $4M by private investors, including Recapex, Axel Johnson, D-Ax Corporate Venture Capital, Filip Engelbert, John Siwers, Jonas Nordlander and Martin Bjäringer..