When the COVID-19 pandemic forced bars across the country to shut their doors in 2020, Cody Modeer found himself facing an uncertain future. His suburban Chicago bar was closed indefinitely, inventory was sitting idle, and revenue had evaporated overnight. Rather than wait for normalcy to return, Modeer spotted an opportunity hidden in the disruption. He began collecting unused liquor from other sidelined bar owners, took out a $40,000 loan, and launched a modest online auction platform aimed at consumers stuck at home and eager to explore premium spirits.
At the same time, Phil Mikhaylov, a former Uber executive, was pursuing a parallel vision. He had acquired a wine storage facility and developed a digital management system that allowed collectors to track, trade, and sell bottles without physically handling them. The system brought convenience and transparency to a market long defined by manual processes and fragmented services.
The turning point came when a mutual acquaintance recognized the natural overlap between the two ventures and introduced the founders. Together, Modeer and Mikhaylov began testing a unified business model that would allow consumers to buy, sell, and store bourbon, scotch, wine, and other spirits through a single platform. Early results were immediate and compelling. Collectors with inventories valued at more than $1 million signed on, seeking a streamlined way to manage and monetize their collections.
Five years later, that experiment has grown into Unicorn Auctions, now the fastest-growing spirits and wine auction house in the United States. The company stands apart as the only vertically integrated platform combining auctions, storage, valuation, logistics, and shipping under one digital system. Inspired in part by Mikhaylov’s experience at Uber, the platform emphasizes ease of use, creating a simple, button-driven experience in an industry that once required phone calls, paperwork, and in-person handling.
Unicorn Auctions now boasts more than 100,000 registered users and continues to scale rapidly. Over five years, the platform has generated more than $150 million from eight million bids placed on 150,000 bottles. Thousands of bottles are sold at auction every week, often at a higher volume and frequency than traditional, established auction houses.
The company serves both elite collectors and everyday enthusiasts, with nearly half of all bottles sold this year priced under $100. Its Chicago-based, 70,000-square-foot storage vault currently holds more than 250,000 bottles, with capacity to scale to one million, supported by 12 regional drop-off locations nationwide. By pairing logistics and shipping with deep data insights into purchasing behavior, Unicorn Auctions has transformed a crisis-born idea into a powerful, tech-driven force reshaping how Americans buy and sell spirits.