Artnet.com is an art market website. It is operated by Artnet Worldwide Corporation, which has headquarters in New York City, in the United States, and is owned by Artnet AG, a German publicly traded company based in Berlin that is listed on the Frankfurt Stock Exchange. The company increased revenues by 24.3% to 17.3 million EUR in 2015 compared with a year before.
Company history
The company was founded as Centrox Corporation in 1989 by Pierre Sernet, a French collector who developed database software which allowed images of artworks to be associated with market prices. Hans Neuendorf, a German art dealer, began to invest in the company in the 1990s; he became chairman in 1992 and chief executive officer in 1995. In the same year the name was changed to Artnet Worldwide Corporation. It was taken over by Artnet AG in 1998.: 14 Neuendorf’s son Jacob Pabst became chief executive officer in July 2012.
Website
Artnet operates an international research and trading platform for the art market, including works of fine art, decorative arts and design. It provides services that promote accessibility, allowing users to research art, contact galleries directly, and to attain price transparency in the art market. The platform caters specifically to art dealers, as well as buyers.
In 2008, Artnet launched the first online auctions platform exclusively for works of art. In 2015, artnet saw a 120% increase in new registrations, rising sell-through rates and a notable increase in numbers of lots sold.
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.
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. In November 2017 Benjamin Genocchio was accused by multiple women of sexual harassment, primarily originating during his time as editor-in-chief at Artnet.
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 over 10 million auction sale results dating back to 1985 from over 1700 international auction houses. Market value and long-term price developments of artworks can be researched online.
An additional key product is the Artnet online Gallery Network, an online platform that connects galleries and collectors from around the world. With over 35,000 artists and 2,200 international galleries worldwide, it is the largest network of its kind, drawing a broad audience and generating inquiries from both serious collectors and first-time buyers.
Subscribing galleries can list works for sale on the site.
Collaboration
In 2004, Artnet and the international auction house Sotheby’s began a collaboration. A collaboration with Art Basel/ Art Basel Miami Beach started in 2007.
Source: Wikipedia
