What FREEMAN'S does

Freeman's is America's oldest auction house, founded in 1805 in Philadelphia by Tristram Bampfylde Freeman and currently headquartered in Chicago at 1550 West Carroll Avenue under the legal entity IAG Holdings, LLC. The firm operates 16 office locations across major U.S. cities and runs 22 specialized departments spanning American Art & Pennsylvania Impressionists, European Furniture & Decorative Arts, Asian Art, Antiquities & Ancient Art, Impressionist & Modern Art, Jewelry, Watches, Books & Manuscripts, Coins & Banknotes, Native American Art, and Luxury Handbags & Couture, among others. In 2024, Freeman's merged with Hindman Auctions to scale its auction operations and appointed Muys Snijders as CEO to drive global expansion.

The company runs a multi-channel auction platform combining live in-person salerooms (Chicago, Philadelphia, New York), online live bidding through its Digital Bid Room, timed online auctions, telephone bidding, absentee/maximum bidding, and a mobile app (iOS). Distribution is extended through third-party platforms including LiveAuctioneers, Bidsquare, Invaluable, and Artsy. Fulfillment is handled in-house for Jewelry and Arms/Armor/Militaria and through Arta's technology platform for global shipping and insurance. Specialist expertise is concentrated across 22 departments staffed by veterans recruited from Sotheby's, Christie's, Bonhams, Colnaghi, and Skinner, including multiple PBS Antiques Roadshow appraisers.

Freeman's monetizes primarily through buyer's premiums on hammer prices (28% on the first $1M and 21% above $1M for Live/Absentee/Phone/Digital Bid Room; 30% for Timed Online auctions), consignment/seller commissions (undisclosed rates settled against hammer price), USPAP-compliant appraisal fees for estate, gift, charitable, and insurance purposes, and private sale commissions on discreet off-market transactions. Customer segments include private collectors, estates and trusts, museums and cultural institutions, and financial advisors/attorneys. Marketing relies on the company website, email newsletters, press coverage, and television exposure through PBS Antiques Roadshow, supported by a 16-region office network for high-touch consignment relationships.

Name

FREEMAN'S

Legal name

IAG HOLDINGS, LLC

Website

https://freemansauction.com

Company type

Private

Founded year

1805

Operating status

Operating

Headcount range

101–250 employees

Short description

Freeman's, founded in 1805, is America's oldest auction house, operating 16 U.S. offices across 22 specialized departments (fine art, jewelry, antiquities, books, etc.). It serves collectors, estates, museums, and advisors via live, online, and timed auctions following its 2024 merger with Hindman Auctions.

Ownership category

akta.pro rank

Product category

Auction House Services

NAICS

Art Dealers (45992)

akta.pro primary industry

Auction Houses (Luxury Watches & Jewelry) (CRAKAKAF)

Keywords

• Fine art auctions
• Estate appraisals
• Asian art sales
• Jewelry auctions
• Antique auctions

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Buyer's Premium: Freeman's charges buyers a premium on the hammer price of each lot sold. Standard buyer’s premium is 28% on the first $1,000,000 and 21% on amounts exceeding $1,000,001 for Live/Absentee/Phone and Digital Bid Room. Coins, Medals & Banknotes are charged at 21% for live/online only and 23% for timed format. Sports Memorabilia and Arms, Armor & Militaria are charged at 20% for live/online format and 23% for timed format. Timed Online auctions carry a 30% buyer's premium.
2. Consignment/Seller Commission: Revenue from consignors selling items through the auction house. Settlement with consignors is based on the hammer price.
3. Professional Appraisal Services: Fee-based appraisal services for estate tax, gift tax, charitable contribution, insurance, and equitable distribution purposes. Fees are determined by the number of specialists, hours involved, and necessary travel and expenses.
4. Private Sales: Discreet, direct sales opportunities connecting consignors with private buyers outside the auction setting, generating commission revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

FREEMAN's operates as a full-service auction house conducting live, online, and timed auctions across 22 specialty departments including fine art (American, European, Impressionist & Modern), Asian art, antiquities, jewelry, watches, luxury handbags, books and manuscripts, photography, furniture, decorative arts, Native American art, and historical ephemera. The firm also provides appraisal and valuation services through its Trusts, Estates & Private Clients division, serving consignors and buyers through a network of 16 U.S. offices and digital bidding platforms.

Product overview

FREEMAN'S is America's oldest auction house (established 1805) offering a comprehensive auction platform with multiple bidding formats including live in-person auctions, online auctions through the Digital Bid Room, and timed online auctions. The company operates across 16 office locations and offers specialized departments covering fine art, furniture, jewelry, watches, antiquities, books, coins, collectibles, and Native American art. Additional services include professional appraisals and valuations, trusts and estates services, museum advisory services, and private sales. The company provides a mobile app for iOS users enabling mobile bidding and auction livestreaming.

Differentiator

Problem solved

Functional benefit

Products and services

• Live Auctions

Quantifiable outcome

• Sale of Charles Carroll's Declaration of Independence copy for $4.42M (second-highest ever at auction)
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• LiveAuctioneerscoreTechnology or IntegrationThird-party online auction platform partner providing additional bidding access. Auctions are always available directly through Freeman's with no additional fee; however, bidding through LiveAuctioneers incurs a surcharge equal to the platform's fee.
• BidsquarecoreTechnology or IntegrationThird-party online auction platform partner. Auctions available through Bidsquare with bidding access extended through Freeman's direct platform without additional fees.
• InvaluablecoreTechnology or IntegrationThird-party online auction platform partner. Enables bidding through Invaluable with surcharge applied for platform usage.
• ArtsycoreTechnology or IntegrationThird-party online auction platform partner. Expands reach to Artsy's global network of art collectors.
• ArtacoreTechnology or IntegrationArta provides fulfillment technology and end-to-end global shipping services for auction purchases. Freeman's uses Arta's technology to ensure purchases are properly shipped and insured.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hindman Auctions: Merged with Freeman's in 2024 under IAG Holdings, Hindman is a Chicago-based full-service auction house with comparable department breadth (fine art, jewelry, decorative arts) and overlapping geographic coverage. As the combined entity's sibling brand, it shares customer base and operational model with Freeman's.
• Bonhams: Global mid-to-high-end auction house competing in the same categories as Freeman's, including fine art, jewelry, and Asian works. April Matteini (Freeman's Jewelry head) was previously Bonhams VP Florida, evidencing direct talent overlap and competitive positioning.
• Skinner Auctioneers: US-based regional auction house operating in fine art, antiques, and collectibles. Lynda Cain (Freeman's) and April Matteini (Freeman's) both previously held roles at Skinner, confirming direct competitive overlap in mid-market American art and furniture categories.
• Cowan's Auctions: US auction house covering fine art, antiques, Native American art, and historical Americana. Danica Farnand founded Cowan's Native American Art department in 2003, evidencing direct crossover in specialty consignments and bidding pools.
• Heritage Auctions: Largest US-headquartered collectibles auction house, with strong overlap in coins, currency, sports memorabilia, and Americana — categories Freeman's also serves (e.g., Coins, Medals & Banknotes; Sports Memorabilia).
• Wright Auctions: US auction house specializing in 20th-century design and contemporary art. Directly comparable to Freeman's Design department, which Roger Ward (previously at a 'prominent New York-based auction house' in design) leads.
• Leland Little Auctions: North Carolina-based auction house covering fine art, antiques, jewelry, and luxury goods. Comparable in scale and category breadth, competing for similar mid-market consignments and bidders across the Southeast US.
• Swann Auction Galleries: Specialty auction house with strong overlap in Books & Manuscripts, African American Fine Art, and other categories that Freeman's also serves. Comparable in format (scheduled auctions, multi-channel bidding) and consignment sourcing.

Broad incumbents

• Sotheby's: Global blue-chip auction house competing for high-end fine art and luxury consignments. Multiple Freeman's specialists (Ben Fisher, Roger Ward) were previously at Sotheby's, and Freeman's competes for the next tier of consignments below Sotheby's marquee sales.
• Christie's: Global blue-chip auction house competing across fine art, decorative arts, and luxury. Tim Luke (Freeman's EVP Appraisals) previously served as Director of the Collectibles Department and Auctioneer at Christie's, evidencing direct competitive overlap at the specialist level.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/freemansauction
• Facebookfacebook.com/freemansauction

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FREEMAN'S