Pale Fire Capital entered Aukro in 2019. Over the past five years, the auction platform has undergone a deep strategic transformation, bringing significant changes to the user experience, a return to its auction roots, international expansion, and a new approach to marketing. This article from Hospodářské noviny summarizes Aukro’s journey to its current state, where more than 6 million products are sold annually.
July 29, 2025, Hospodářské noviny, Michael Mareš
The Czech e-commerce sector is growing, and along with it, the segment focused on second-hand goods. Among online marketplaces, the fastest-growing player is one that went through years of uncertainty. Aukro used to be the dominant force in Czech online shopping, but a series of poor business decisions brought it close to collapse. Under new ownership, however, the platform has changed tactics and experienced a business revival.
Back in 2019, when investment group Pale Fire Capital acquired a stake in Aukro, the marketplace had a turnover of around CZK 1.5 billion. Today, that figure is more than double. Last year, over six million products were sold on the platform—also strong in Slovakia—with 213,000 new users joining. The trend continues: in the first quarter of this year, the number of economically active users rose by 10% year-on-year.
In recent years, Aukro has closed the gap with its main competitors, Sbazar.cz and Bazoš.cz. A direct comparison of traffic using Similarweb data shows Bazoš leading with 16 million monthly visitors, Aukro second with 6.4 million, and Sbazar third with 3.4 million. Google Trends also suggests that Aukro has overtaken Seznam’s classified service—last autumn, Aukro surpassed Sbazar for the first time in years and has maintained its lead ever since.
“Aukro’s growth wasn’t the result of a single move but a combination of several key elements. The first was certainly re-emphasizing auctions as the core of the platform. It’s a format that motivates buyers to engage and brings sellers a higher success rate,” says Peter Topor, Aukro’s CEO.
According to him, the platform, which is the leading domestic marketplace for collectible and art items, has grown on average by 20% per year over the past five years. During the same period, it has posted a cumulative post-tax profit of CZK 195 million.
A Drop to a Quarter
Few may remember, but Aukro was the first major venture by Polish company Allegro in Czech e-commerce. The platform was launched in 2003 in Zlín by young entrepreneur Václav Liška, and within five years, it had a million registered users trading goods and participating in auctions of collectibles and art. The project grew rapidly and attracted investors—Liška sold it to the Allegro Group in 2011.
Although Aukro celebrated three million registered customers in 2013, problems were mounting internally. The owners at the time decided that the potential of auctions had been exhausted and shifted focus to selling new goods, deliberately downplaying auctions. This turned out to be a poor decision. The number of users fell, and revenue dropped to a quarter of its peak: while the platform handled CZK 6 billion annually in 2011 at its height, by 2018 it had fallen to just CZK 1.5 billion. At that point, the portal was also posting accounting losses.
On top of that, cash flow was heavily strained by an internal IT system overhaul enforced by Allegro, which cost around CZK 100 million. Just when it seemed the platform might shut down, its original founder returned: Liška and partners bought back Aukro and paved the way for new ownership.
Before the COVID-19 pandemic, investment group Pale Fire Capital acquired a slight majority stake. The group, founded by Jan Barta, Dušan Šenkypl, and David Holý, now holds 81% of the company. Another 17% is owned by South Moravian investment group Leverage, where Liška is a partner, and the remaining shares are held by minor stakeholders.
Collectors and Investors
Under current ownership, Aukro has returned to what it always did best—auctioning off items people love to collect and own: coins, banknotes, postage stamps, hockey cards, watches, and all sorts of antiques. But even beyond auctions, many other changes have taken place, including pricing adjustments for sellers.
“Five years ago, we launched a comprehensive strategic transformation that touched nearly every key area—from technology to marketing. We knew Aukro had huge potential, simply because it combines great deals for both buyers and sellers with a high level of security, which is a crucial factor for users,” says Topor. He adds that auctions attract not just experts and enthusiasts in art and collectibles, but also those looking for investment opportunities.
Aukro regularly features auctions of exceptional items. In June, for instance, a first edition of Harry Potter went up for auction. Numismatists competed over a rare 1 Kčs coin, and classic car fans bid on a pre-war Mercedes-Benz 170L. In Slovakia—where Aukro has taken off rapidly and doubled the number of transactions in the first quarter compared to the previous year—a bicycle belonging to cycling star Peter Sagan was recently auctioned.
Slovakia is also Aukro’s entry point for international expansion. “We’re actively working on building an international marketplace across Central and Eastern Europe. For Czech users, this brings the major advantage that they’ll no longer be offering their goods only to 10 million Czechs, but also to users in other countries,” says Topor.
Second-Hand Goods
Aukro is also gaining ground in the second-hand goods segment, though it still trails behind Bazoš and Sbazar—recording 11% growth last year. Every month, half a million products are sold through the platform. Long-term, buyers show the most interest in electronics—especially computers, laptops, and phones—as well as tools, home equipment, baby goods, and toys. For example, around 200 phones change owners every day.
“Buying second-hand items no longer carries a negative stigma, and it’s no longer just a purely practical choice,” says Topor. “We’re seeing—based on weekly user growth, their behavior, demand, and numerous studies—that people are drawn to the benefits of buying used products again.”