– Leading providers of art market data embark on data-sharing partnership
– AI-driven analytics predicting trends and trajectory of emerging and established artists further strengthened through the combination of two uniquely powerful data sets
– Arrangement will create greatest transparency the art market has ever seen
BERLIN, GERMANY and NEW YORK, NY / ACCESSWIRE / July 9, 2021 / Artnet AG, the leading provider of art market data, news, and online-only fine art auctions, is excited to announce a data partnership with Artfacts, the pioneering resource for exhibition data. Artnet’s Price Database offers more than 14 million color-illustrated art auction records from more than 1,900 auction houses, covering over 340,000 artists and ranging across media, from Michelangelo drawings to Warhol paintings, Le Corbusier chairs to Banksy prints. Artfacts has a curatorial database of 1 million exhibitions dating from 1863 to 2022, and covering more than 700,000 artists worldwide. The data partnership will offer users a richer experience-broadening and strengthening the offerings of both companies to their respective clients, and allowing for the development of unprecedented new possibilities from a data and analytics perspective.
“We are thrilled to be embarking on this data partnership.” says Artnet CEO Jacob Pabst. “Utilizing Artfact’s thorough primary market data, Artnet will now be able to provide collectors with a fully holistic view of the art world, further driving transparency in the market through the use of intelligent AI-driven analytics and indicators, and cementing Artnet as the leading online information resource and marketplace in the industry”.
Artfacts’s new mobile app “Limna” is the only product that can validate art prices for artists without auction results, and provide confidence to users as to why this is the case; especially important for artists in the sub-$100,000 price bracket where most art market transactions take place. “This partnership will further strengthen Limna’s price estimates across all artist levels, particularly those in higher-price brackets dominated by auction results,” says Jonas Almgren, CEO of Artfacts and Limna. “We’re excited to be able to offer accurate price estimates for all collectors, regardless of price point or focus on primary or secondary market, making the Limna app more accurate for more art buyers and all budgets.”
Artfacts creates transparency in the art world, helping artists to understand their career position and galleries to make more informed decisions on their artist representation since 2001. With the largest curatorial art database in existence, comprising more than 700,000 artists tracked from more than 45,000 institutions worldwide, Artfacts has amassed more than 1,000,000 exhibitions from 1863-2022 and continues to grow weekly. The philosophy of Artfacts is “art history is exhibition history”, acting as the trusted record keeper for the global art world. A sibling brand to Limna, the world’s first AI-powered art advisor, making it easier for anyone to confidently buy art, both brands are based in London and Berlin and share co-founders, Marek Claassen and Stine Albertsen, and CEO, Jonas Almgren. Learn more at www.artfacts.net and www.limna.ai.
Artnet is the leading resource for buying, selling, and researching art online, with over 45 million unique users per annum. Founded in 1989, Artnet’s suite of industry-leading products has revolutionized the way people discover and collect art today. The Price Database contains more than 14 million auction results from 1,900 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with millions of collectors from around the world, offering the most comprehensive overview of artworks for sale. Artnet Auctions was the first dedicated online marketplace for fine art, providing a seamless and efficient collecting experience for both buyers and sellers. Artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary.
Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards.
SOURCE: artnet AG
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