Chapter 01 — Situation
Chairish gets acquired. I get the auctions.
When Chairish was acquired, I stepped in to run full-service auctions. The business had inventory, a team, and a respected brand — but on the metric that actually matters in auctions, sell-through, it was deeply underwater.
The platform average for timed-plus auctions on Live Auctioneers was around 30%. Chairish auctions were converting at 5.4%. Plenty of activity. Not nearly enough outcomes.