What akson does

Akson, founded in 2007, was legally renamed Yerevan Commodity Exchange in 2023 and operates a domestic commodity and raw-material exchange from Yerevan, Armenia. It serves banks and other financial institutions, credit organizations, pawnshops, state enterprises and public organizations, corporations, bankruptcy administrators, and individuals or legal entities buying or selling assets. Its service portfolio includes consulting, property and asset valuation, quotation, auction sales, and tender organization.

Auctions are conducted at a physical Yerevan location and through auctiononline.am, using classical price-escalation and Dutch price-reduction methods, with public or limited-participant formats. The online platform supports remote real-time bidding across assets such as real estate, vehicles, jewelry, precious metals, machinery, and equipment. The business model is sales-led and event-driven: asset holders bring lots to the exchange, and the exchange charges commission only when a transaction completes; commission rates are not publicly disclosed, while consultations are generally free when tied to another exchange service.

Name

akson

Legal name

«ԵՐԵՎԱՆԻ ԱՊՐԱՆՔԱՅԻՆ ԲՈՐՍԱ» ՍՊԸ

Website

https://akson.am

Company type

Private

Founded year

2007

Operating status

Operating

Short description

Akson, now Yerevan Commodity Exchange, runs a Yerevan commodity and asset exchange offering physical and online auctions, valuation, quotation, consulting, and tender services to banks, lenders, pawnshops, public institutions, enterprises, administrators, and individuals.

Ownership category

akta.pro rank

Product category

Commodity Exchange and Asset Auction Services

NAICS

Securities and Commodity Exchanges (523210), Commodity Contracts Intermediation (52316)

SIC

Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Agricultural Commodities Exchanges (Grains, Oilseeds, Livestock) (FSAFAMAA)

akta.pro secondary industries

Commodity Market Data, Pricing & Benchmark Administrators (Commodity Indices/Assessments) (FSAFAMAJ), Real Estate Auction Services (FSAEAJAL)

Keywords

• Commodity exchange services
• Asset auction platform
• Property valuation services
• Tender organization services
• Online auction marketplace

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Auction Commission Fees: The exchange charges commission fees only when a transaction is completed, providing a performance-based revenue model where the company earns only when sellers successfully dispose of assets through the platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Akson (operating as Yerevan Commodity Exchange) runs a commodity and raw material exchange platform in Armenia that conducts physical and online auctions of real estate, vehicles, precious metals and jewelry, machinery, and other tangible assets on behalf of sellers such as banks, credit organizations, pawnshops, state enterprises, and bankruptcy administrators. It supports both classical (English/price-escalation) and Dutch (price-descending) auction formats, and complements auctions with property valuation, indicative pricing (quotation), professional consulting, and organization of legally compliant tenders. Commission is charged only upon successful transaction completion, making revenue performance-based.

Product overview

Akson (now Yerevan Commodity Exchange) operates as a commodity and raw material exchange platform offering five core services: Consulting, Valuation, Quotation, Auction Sales, and Tender Organization. The platform facilitates trading of real estate, transport, precious metals and jewelry, machinery and equipment, and other material assets. Auction sales are conducted using both 'classic' (price ascending) and 'Dutch' (price descending) methods, either publicly or with limited participants. The exchange provides an online auction platform (auctiononline.am) for real-time digital bidding, and connects with banks and financial institutions for payment processing.

Differentiator

Problem solved

Functional benefit

Brands

• auctiononline.am: Online auction platform operated by the exchange for conducting digital auctions

Products and services

• Consulting Services Professional consultation services covering legal, financial-credit, and other economic fields relevant to asset sales and exchange transactions. Provided to banks, credit organizations, enterprises, and individuals preparing to use the exchange; primarily free of charge when the customer subsequently uses another exchange service.
• Valuation Services Valuation of property rights, risks, shares, movable and immovable property, and other material assets, delivered as official reports within short timeframes at reasonable fees. Used by banks, credit organizations, bankruptcy administrators, and sellers needing documented valuations prior to auction or tender.
• Quotation Services Provision of indicative market quotations for any type of property, reflecting either current values or values formed over a specified period. Used by sellers and buyers as reference pricing in advance of or alongside an auction.
• Auction Sales (Physical) Auction sale of various properties (real estate, vehicles, jewelry, machinery, and other tangible assets) conducted on the exchange floor in Yerevan using classical (English/price-escalation) and Dutch (price-descending) methods, executed as either public open auctions or closed limited-participant auctions. Commission is charged only upon successful transaction completion.
• Online Auctions (auctiononline.am) Online auction platform operated by the exchange enabling real-time remote bidding for properties including jewelry, vehicles, and other listed assets, expanding buyer participation beyond the physical Yerevan location.
• Tender Organization Organization of tenders to select best offers for procurement and asset sales, with publicity and compliance to Republic of Armenia legislation ensured by a competition commission composed of professional staff, customer representatives, and invited specialists as needed. Used primarily by state enterprises and government institutions.

Named customers16 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

23 partnerships are on record, tiered core and minor.

• ArdshinbankcoreOthersMajor Armenian bank that regularly uses the exchange platform to sell pledged and foreclosed properties through public auction. Multiple auction lots from Ardshinbank are listed on the exchange.
• AmeriabankcoreOthersLeading Armenian bank listed as a partner bank utilizing exchange services for asset sales and procurement.
• Converse BankcoreOthersCommercial bank partner utilizing exchange services for financial operations.
• VTB ArmeniacoreOthersRussian majority-owned bank in Armenia that uses the exchange platform for selling assets including jewelry through auction.
• ACBA BankcoreOthersAgricultural cooperative bank partner listed among exchange banking partners.
• Anelik BankcoreOthersArmenian bank partner utilizing exchange services.
• Aregak UCOcoreOthersMicro-credit organization partner that brings loan collateral assets to the exchange platform for liquidation.
• Premium CreditcoreOthersCredit company partner utilizing exchange for asset sales.
• Global CreditcoreOthersLoan organization partner of the exchange.
• Gold & G.B. (Gold End G.B.)coreOthersPawnshop partner that regularly sells jewelry and precious metal items through the exchange's auction platform.
• Lombard PluscoreOthersPawnshop partner utilizing exchange auction services.
• MVM-FinancecoreOthersPawnshop partner of the exchange.
• South Caucasus RailwayminorOthersState-owned railway company that sells assets through the exchange.
• Telecom ArmeniaminorOthersTelecommunications company that sells equipment through the exchange auction.
• National Library of ArmeniaminorOthersState non-commercial organization listed as exchange partner.
• Yerevan Computer Research InstituteminorOthersState enterprise partner of the exchange.
• Nairit-2minorOthersState enterprise partner using exchange services.
• Armatom Scientific Research InstituteminorOthersScientific research institute partner.
• BST LLC (Organizer)coreOthersCompany that organizes auctions through the exchange platform, bringing property lots from banks to auction.
• Arekak UCOcoreOthersCredit organization that sells jewelry through online auctions on the exchange.
• High-Voltage Electric NetworksminorOthersState-owned electricity company selling construction materials through auction.
• Converse BankcoreOthersBank partner selling property lots through the exchange.
• Financial System Mediator FoundationminorOthersFoundation partner listed as a regular partner of the exchange.

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Heritage Auctions: Large US-based auction house with significant online bidding infrastructure for collectibles, jewelry, and material assets. Comparable for its online-led hybrid auction approach and broad asset coverage.
• Christie's: Global auction house with comparable classical and online auction formats for jewelry, art, and luxury assets. Relevant broad incumbent that demonstrates the scaling potential of auction-led exchange businesses.
• Bonhams: International auction house covering art, jewelry, collectibles, and other material assets through live and online auctions. Comparable for its online/physical hybrid auction model across varied asset categories.
• Sotheby's: Global auction house running classical and online auctions across luxury and asset categories. Comparable as a much larger incumbent offering auction services for jewelry, real estate, and other material assets through both physical and online channels.

Emerging players

• Catawiki: European online-only auction platform for curated goods (jewelry, collectibles, etc.). Comparable as a digital-first auction venue that competes for the online auction flow Akson is building at auctiononline.am.
• eBay Auctions: Global online marketplace with auction-style listings for vehicles, jewelry, and equipment. Represents the alternative digital liquidation channel against which Akson's online auction platform competes for retail/individual sellers.

Regional players

• Baku Stock Exchange: Azerbaijan-based regional exchange operating across securities and commodity instruments. Comparable as a neighboring Caucasus commodity/exchange venue facing similar regulatory and small-market dynamics.
• NASDAQ OMX Armenia: Operates the Armenian securities exchange (now part of the Armenia Securities Exchange). Direct geographic peer that runs a different asset class (securities) but is the closest regulated venue in the same country, sharing the Armenian regulatory and institutional context.
• Georgian Stock Exchange: Regional securities and commodity exchange in neighboring Georgia. Comparable as a Caucasus-region regulated trading venue serving a small economy with similar institutional structure.

Direct peers

• ProZorro.Sale: Ukrainian state-asset electronic auction platform. Comparable as a regional online auction venue that facilitates transparent sale of state and corporate assets through competitive bidding, with a similar mix of physical/online execution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about akson