Artnet

This article is about an art-dealing website. For the lighting industry control system, see Art-Net.
Artnet AG
Stock Corporation
Traded as FWB: ART
Industry art market
Founded 1989
Headquarters New York, Berlin, London
Key people
 Jacob Pabst (CEO)
Revenue €13,907,000[1]:29 (2014)
Number of employees
 118[1]:33 (2014)
Website artnet.com

Artnet.com is an art market website. It is operated by Artnet Worldwide Corporation, which has headquarters in New York, in the United States,[2] and is owned by Artnet AG, a German public company based in Berlin and listed on the Frankfurt Stock Exchange.[2][3] The company made a loss of over €3 million in 2014, part of which was due to costs and damages awarded against it by a court in France for copyright infringement.[2]

Company history

The company was founded as Centrox Corporation in 1989 by Pierre Sernet,[4][5] a French collector who developed database software which allowed images of artworks to be associated with market prices.[6] Hans Neuendorf, a German art dealer, began to invest in the company in the 1990s;[6] he became chairman in 1992 and chief executive officer in 1995.[4] In the same year the name was changed to Artnet Worldwide Corporation. It was taken over by Artnet AG in 1998.[1]:14 Neuendorf's son Jacob Pabst became chief executive officer in July 2012.[7]

The website

Artnet operates an international trading platform for the art market, including fine arts, decorative arts and design. It provides services allowing its clients to attain price transparency and enabling them to contact galleries directly. The network caters specifically to art dealers, as well as buyers.[8]

In 2008, Artnet launched an online auction platform exclusively for works of art.[9]

In October 2008, Artnet launched a French website, artnet.fr. It also included a French language magazine which offers a critical overview of the French art market.[10]

In 2012, the company ceased publication of its online magazines in New York, Berlin, and Paris,[11] for financial reasons.[12]

In February 2014 the company launched Artnet News, a 24-hour news site. Benjamin Genocchio, former editorial director of Louise Blouin Media, was appointed editor-in-chief.[12][13][14]

Services

The primary service of this business is Artnet online auctions. The Artnet Fine Art and Design Price Database and the Artnet Decorative Art Price Database contain 7.5 million auction sale results since 1985 from over 1400 international auction houses. Market value and long-term price developments of artworks can be researched online.[15]

An additional key product is the Artnet online Gallery Network, consisting of more than 2,200 international galleries worldwide.[16] Collectors are able to search by artist, movement and medium and can contact sellers directly. This service is free of charge for collectors while galleries pay a monthly fee.

This range of services is completed by alerts by email of newly available artworks, online auctions, a digital library of artist works catalogues, analytics reports, and an international exhibition calendar, among other services.[17] An independent online art magazine was published until 2012.

Collaboration

In 2004, Artnet and the international auction house Sotheby's began their collaboration.[18]

In 2007, the close collaboration between Artnet and Art Basel/ Art Basel Miami Beach started.[19]

References

  1. 1 2 3 Annual Report 2014. Artnet AG. Accessed September 2015.
  2. 1 2 3 Georgina Adam (8 May 2015). The Art Market: outside the white cube. The Financial Times. Accessed September 2015.
  3. ↑ Randy Kennedy (21 June 2011), A Resurgence in Art Buying Over the Web The New York Times. Accessed September 2015.
  4. 1 2 About Us: Fact Sheet. Artnet. Archived 31 January 2009.
  5. ↑ Company Overview of Artnet Worldwide Corporation. Bloomberg L.P. Accessed September 2015.
  6. 1 2 Thomas Hüetlin, Christopher Sultan (trans.) (7 June 2012). Online Rebellion: Dealer Tries to Liberate Art from the Elite. Spiegel International. Accessed September 2015.
  7. ↑ Catherine Hickley (25 June 2012). Artnet Founder Neuendorf Cedes CEO Role to Eldest Son Pabst. Bloomberg L.P. Accessed September 2015.
  8. ↑ "OnVista".
  9. ↑ "Annual Report 2009, p. 14" (PDF).
  10. ↑ "Annual Report 2009, p. 9" (PDF).
  11. ↑ Randy Kennedy (June 25, 2012), Artnet Chief Steps Down and Artnet Magazine is Closed New York Times.
  12. 1 2 Carol Vogel (12 December 2013). Steve McQueen Among 6 Hugo Boss Prize Finalists. The New York Times. Accessed September 2015.
  13. ↑ [s.n.] (15 January 2014). Benjamin Genocchio To Lead Art Net's Global Art Market Newswire: Artnet News. Media Wired Daily. Accessed September 2015.
  14. ↑ Keith J. Kelly (11 February 2014). Blouin Media loses staff to rival art startup. New York Post. Accessed September 2015.
  15. ↑ Vogel, Carol. "Art Prices (and Mood) Inch Back Up" The New York Times. 15 November 2009. Nytimes.com Retrieved on May 26, 2010.
  16. ↑ Peake, Mike. "The 10 best visual websites" The Times. 4 October 2009. . Retrieved on May 26, 2010.
  17. ↑ Sapienza, Terri. "Resources for Finding and Decorating with Art" The Washington Post. 18 September 2009.
  18. ↑ "Investments you can live with" CNNMoney.com. Money.cnn.com. Retrieved 26 May 2010.
  19. ↑ Liberman, Gail. "Managing your Future. How to buy art in today's market". Palm Beach Daily News. 24 January 2010.
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