Unicorn Auctions
| File:UnicornLogo.webp | |
| Private | |
| ISIN | 🆔 |
| Industry | Auction, Spirits, Wine |
| Founded 📆 | 2020 |
| Founders 👔 | Phil Mikhaylov, Cody Modeer, AJ Heindel |
| Headquarters 🏙️ | Chicago, Illinois, U.S. |
Area served 🗺️ | |
Key people | Phil Mikhaylov (CEO) |
| Services | Online auctions, bottle authentication, vault storage |
| Members | |
Number of employees | 75 (2025) |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Unicorn Auctions is an online auction platform based in Chicago, Illinois, focusing on rare spirits and wines.[1]
History
Unicorn Auctions was founded in 2020 and aims to provide an accessible online marketplace for spirits and wine auctions, using technology for bottle authentication and appraisal. The company draws on the founders’ experience in Chicago’s hospitality and technology sectors.[2] In 2025, it raised $5.8 million from venture capital, professional athletes, and collectors, with plans for further funding.
In May 2025, Unicorn Auctions acquired The New Wine Review, rebranding it as The Unicorn Review. The publication’s content was made freely accessible, with expanded coverage of the whiskey market.[3][4]
Operations
Unicorn Auctions operates through its website and mobile apps on iOS and Android.[5][6]
It conducts weekly auctions, offering 4,000 to 6,000 bottles per event, with sales ranging from $1.2 million to $2 million. Auctioned items include whiskey, scotch, tequila, and wines.[7]
All bottles are stored in two Chicago vaults: a 30,000-square-foot facility in Ravenswood and a 70,000-square-foot facility in Bridgeport. The company employs 75 staff members.
Sellers pay a 5% commission and a $5 per bottle fee, while buyers pay a 15% premium plus a 10.25% sales tax. Registration is free with no minimum bids. Vault storage services are available for customers.[8]
In 2025, it raised $5.8 million from venture capital, athletes, and collectors, with plans for additional funding. Its revenue comes from a 20% total commission (15% from buyers, 5% from sellers).[9]
Notable Sales
Unicorn Auctions has handled several significant sales, including:
- A bottle of Yamazaki 55 Japanese whiskey sold for $210,000.[10]
- A Van Winkle 18 Year Special Reserve Bourbon sold for $86,000.[11]
- A Buffalo Trace Old Fashioned Copper 1982 Bourbon sold for $122,900.[12]
In 2024, the company recorded $50 million in sales, with over 50,000 transactions for bottles priced at $100 or less.
References
- ↑ "How a Chicago online auction startup is turning whiskey bottles into windfalls". Chicago Tribune. 2025-05-10. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Our Company". Unicorn Auctions. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Big News for The New Wine Review". The New Wine Review. 2025-05-09. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Unicorn Review". Unicorn Auctions. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Unicorn Auctions iOS App". App Store. 5 June 2025. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Unicorn Auctions Android App". Google Play. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Unicorn rare spirits auction". Axios. 2025-06-17. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Unicorn Luxury Wine & Spirits". RetailWire. 12 May 2025. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Unicorn Democratizes The Buying And Selling Of Spirits With Online Auctions". Forbes. 2025-05-12. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Yamazaki 55 Japanese whiskey sale". Unicorn Auctions. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Van Winkle 18 Year Special Reserve Bourbon sale". Unicorn Auctions. Archived from the original on 2025-06-23. Retrieved 2025-06-23.
- ↑ "Buffalo Trace Old Fashioned Copper 1982 Bourbon (2022, 6 Liter)". Unicorn Auctions. Retrieved 2025-06-23.
External links
- Official website
- Unicorn Auctions on App Store
- Unicorn Auctions on Google Play
- The New Wine Review
- Unicorn Review
This article "Unicorn Auctions" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Unicorn Auctions. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
