PARIS, September 2, 2014 /PRNewswire/ --
A few years back Artprice acquired Xylogic, a Swiss company
created by leading scientists in 1987. Xylogic was the only company
in the world producing indexes and econometric tools for an
extremely powerful art market elite consisting of art experts,
international auction firms, and major art collectors (see our
reference document - Artprice 2013 - filed with the AMF on
July 17, 2014).
Artprice is regarded as the primary "disrupter" of the Art
Market (see Trading and IPO's analysis of August 20, 2014):
http://www.actusnews.com/communique.php?ID=ACTUS-0-36953
Until now, Artprice has given access to extremely sophisticated
data developed by its econometrics and statistics department via
its high-end subscriptions. Artprice, world leader in Art Market
information, is the only group capable of mining and exploiting a
huge volume of market data and producing highly reliable
information based on the method of repeat sales. This method
consists in meticulously and rigorously tracing the ownership
history of artworks in order to calculate their value through the
years.
Today, the commercial success of mobile Internet (3.1 billion
connections worldwide) fits perfectly with Artprice since its
clientele is by nature nomadic and wealthy and needs immediate
access to art market information (galleries, auction operators,
valuers, etc.). In fact the mobile Internet is expected to account
for 80% of Artprice consultations in the very near future. By
August 2014, it already accounted for
72% (iOS + Android).
On top of that, we have 2.7 billion fixed online connections
that often overlap with the mobile connections.
A year ago Artprice decided to accelerate its disruption of the
art market (in which it has become an unavoidable player) by asking
its econometric department to develop a series of extremely simple
applications specially designed for mobile Internet usability.
These applications allow Artprice to respond to 70 million art
consumers, amateurs, collectors and art market professionals, and
not just to the aforementioned elite that used to control the
market.
Now, within seconds, a buyer or seller using a smartphone,
phablet, tablet or pc can access graphic displays of an artist's
price index, the number of works sold per year, his/her annual
auction turnover, his unsold rate, the geographic distribution of
his sales per country, per price segment or per artistic medium,
not to mention an array of more advanced options.
So, in just three mouse-clicks, the non-initiate can compare the
price curves of two artists and check the performance of an artist
versus the Artprice Global Index (Artprice's general Art Market
Index that become an authoritative reference in the business over
the last 18 years).
At the same time, he can also compare the artist's valuation to
the major stock market indexes like the S&P 500, the DAX, the
CAC40, the FTSE, the NIKKEI and the S&P Asia 50.
e.g. :
http://www.artprice.com/artist/3416/francois-boucher/index
Indeed over the past 18 years the art market has seen
exponential financialization. Most of the world's major private
banks and wealth management institutions are clients of
Artprice.
To create a shock wave and literally reshape the Art Market (in
the sense of the "disruptive economy" described by Clayton Christensen) we needed to condense the
market's macro- and micro-economic data so that non-initiates could
get access to easily understandable and pertinent information about
artists and thus be in a position to negotiate on equal terms with
seasoned professionals.
In addition, to generate a truly disruptive and viral economy, a
major proportion of these indices are free online, and these
indices are today essential features of an artist's online profile
in freemium mode (the freemium model provides the basic data in
free mode and the value-added data in pay mode) generating an
irreversible shockwave to the traditional relationship between art
buyers and art sellers. This principle will generate an impressive
number of new Artprice members because to get access to this
freemium mode information they will need to register with
Artprice.
Now, using their smartphones, tablets and PCs, buyers can
rapidly obtain summarized and pertinent figures that sellers cannot
ignore without risking being destabilized in negotiations. To avoid
this, sellers will have to join Artprice to restore a symmetrical
information relationship with their customers.
For centuries asymmetrical information enabled a highly
structured market to buy and sell art with margins that no longer
have any economic justification in the 21st century.
Since January 2014, Artprice has
accelerated the injection of 80% of its data in online free mode
and now provides freeware access to 630 million data covering the
period 1700 to the present day (in the form of owner application
licenses distributed free of charge but with certain user
restrictions) via its agreements with Google (since 2003) and Baidu
(China). The same approach has
been activated in 2014 with Bing (Microsoft) which has a market
share of 18.4% in the USA. So… as
of Tuesday, September 2, 2014, the
dashboards and indexes will immediately be directed to all these
search engines.
http://www.artprice.com (c)1987-2014 thierry Ehrmann
About Artprice:
Artprice is the global leader in art price and art index
databanks. It has over 30 million indices and auction results
covering more than 500,000 artists around the world. Artprice
Images(R) gives unlimited access to the largest Art Market resource
in the world: a library of 108 million images or prints of artworks
from the year 1700 to the present day, along with comments by
Artprice's art historians.
Artprice permanently enriches its databanks with information
from 4,500 auctioneers and it publishes a constant flow of art
market trends for the world's principal news agencies and
approximately 6,300 international press publications. For its
3,200,000 members (members log in), Artprice gives access to ads
posted by members. This space represents the world's leading
Standardised Marketplace® for buying and selling art. These sales
take place under two systems: either fixed price sales or
auction-sales (regulated by paragraphs 2 and 3 of Article L 321.3
of the French Code of Commerce).
Artprice is listed on the Euronext Paris SRD L.O. (Euroclear:
7478 - Bloomberg: PRC - Reuters: ARTF)
Press Releases:
http://serveur.serveur.com/press_release/pressreleaseen.htm
Discover the Alchemy and the universe of Artprice
http://web.artprice.com/video, which headquarters are the famous
Museum of Contemporary Art, the Abode of Chaos
http://goo.gl/mwsqp
https://vimeo.com/87859684
http://twitter.com/artpricedotcom
https://www.facebook.com/artpricedotcom
Contact : Josette Mey : e-mail :
ir@artprice.com
SOURCE Artprice.com
