Artnet.com is an

art market The art market is the marketplace of buyers and sellers trading commodities, services, and works of art. The art market follows an economic model that considers more than supply and demand; it is a market where art is bought and sold for values ...

website. It is operated by Artnet Worldwide Corporation, which has headquarters in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. It is owned by Artnet AG, a German publicly-traded company based in

Berlin Berlin ( ; ) is the Capital of Germany, capital and largest city of Germany, by both area and List of cities in Germany by population, population. With 3.7 million inhabitants, it has the List of cities in the European Union by population withi ...

that is listed on the

Frankfurt Stock Exchange The Frankfurt Stock Exchange (, former German name: , ''FWB'') is the world's 3rd oldest and 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time). Organisation Located in Frankfurt, ...

. The company increased revenues by 25.3% to €17.3 million in 2015 compared with a year before.

Company history

The company was founded as Centrox Corporation in 1989 by Pierre Sernet, a French art collector who developed database software which allowed images of artworks to be associated with market prices.

Hans Neuendorf Hans Neuendorf (born 1937) is a German entrepreneur and art dealer, he has also released several publications. Neuendorf was born in 1937 and grew up during World War II. He started in the art business as a teenager by hitchhiking to Paris to ...

, a German

art dealer An art dealer is a person or company that buys and sells works of art, or acts as the intermediary between the buyers and sellers of art. An art dealer in contemporary art typically seeks out various artists to represent, and builds relationsh ...

, began to invest in the company in the 1990s; he became chairman in 1992 and

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

in 1995. That same year, the name was changed to Artnet Worldwide Corporation. It was taken over by Artnet AG in 1998. 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 In European academic traditions, fine art (or, fine arts) is made primarily for aesthetics or creative expression, distinguishing it from popular art, decorative art or applied art, which also either serve some practical function (such as ...

decorative arts ] The decorative arts are arts or crafts whose aim is the design and manufacture of objects that are both beautiful and functional. This includes most of the objects for the interiors of buildings, as well as interior design, but typically excl ...

and

design A design is the concept or proposal for an object, process, or system. The word ''design'' refers to something that is or has been intentionally created by a thinking agent, and is sometimes used to refer to the inherent nature of something ...

. Its services allow users to research art, contact galleries directly, and attain price transparency in the art market. The platform caters to art dealers as well as buyers. In 2008, Artnet launched the first online auctions platform exclusively for works of art. In 2015, the site saw a 120% increase in new registrations, rising sell-through rates, and a notable increase in numbers of lots sold. A French version of the site, artnet.fr, was launched in October 2008. It included a French-language magazine which offers a critical overview of the art market in France. In February 2014, the company launched a website, Artnet News.

Benjamin Genocchio Benjamin Genocchio (born 1969) is an List of Australian art critics (news periodicals), Australian art critic, editor, and non-fiction writer based in New York (state), New York. He is editor-in-chief of ''Incollect Magazine''. He worked as an ...

, former editorial director of

Louise Blouin Media Louise Blouin Media was an art magazine and book publishing company based in New York City. Founded by Louise Blouin,. Archived March 18, 2006. it published the magazines ''Art+Auction'', ''Gallery Guide'' and ''Modern Painters'' until 2020. It ...

, was appointed editor-in-chief.

Services

Artnet's primary service is 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 An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition e ...

. Market value and long-term price developments of artworks can be researched online. An additional 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, and generates inquiries from both collectors and first-time buyers. Subscribing galleries can list works for sale on the site.

Collaborations

In 2004, Artnet and the international auction house

Sotheby's Sotheby's ( ) is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine art, fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, an ...

began a collaboration. A collaboration with Art Basel/Art Basel Miami Beach was also launched in 2007.Liberman, Gail. "Managing your Future. How to buy art in today's market". ''Palm Beach Daily News'', 24 January 2010.

References

{{Authority control Companies based in Berlin Companies based in New York City Online databases Art websites Companies listed on the Frankfurt Stock Exchange