Unicorn Auctions

Unicorn Auctions operates as a technology-driven, full-service digital auction marketplace specializing in rare spirits and wine. Founded in Chicago in 2019 by A.J. Heindel, Cody Modeer, and Phil Mikhaylov, the company emerged from the founders' shared background in the restaurant and tech industries and their frustration with the inaccessible and archaic secondary market for spirits. Heindel and Modeer, both restaurant industry veterans and whiskey collectors, identified a need for a legitimate, liquid marketplace, while Mikhaylov brought the tech perspective to create a modern, seamless user experience akin to platforms like StockX or The Real Real.

The firm's business model centers on creating a trusted intermediary for collectors and enthusiasts to buy and sell bottles. All spirits and wines are sold on consignment, with Unicorn authenticating, appraising, and digitizing every item before listing it in weekly online auctions. Revenue is generated through a commission structure, taking a 20% cut of the final sale price, which is split between a 15% buyer's premium and a 5% seller's fee. This model has proven successful, with the company reporting profitability since its inception and processing over $150 million in sales across more than 500,000 lots.

Unicorn Auctions' core service is its digital platform, accessible via its website and mobile apps for iOS and Android, where the majority of its sales occur. The platform hosts one to three auctions weekly, featuring up to 6,000 listings that range from everyday bottles under $100 to ultra-rare collectibles fetching six-figure prices. A key feature is its extensive database of over 500,000 historical transactions, which provides transparent pricing data and serves as a 'Kelley Blue Book' for the spirits market. Beyond the auction, the company provides brick-and-mortar services, including a 30,000-square-foot secure vault in Chicago managing over $100 million in assets and several drop-off/pickup locations nationwide, allowing clients to store or ship their collections.

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