Artnet

This article is about an art-dealing website. For the lighting industry control system, see Art-Net.

Artnet AG

Company type	Stock corporation (Aktiengesellschaft)
Traded as	FWB: ART
Industry	Art market
Founded	as Centrox Corporation 1989; 35 years ago (1989)
Founder	Pierre Sernet
Headquarters	New York, Berlin, London
Key people	Jacob Pabst (CEO)
Revenue	$21,878,000[1]: ii  (2019)
Owner	Artnet AG
Number of employees	122[1]: ii  (2019)
Website	artnet.com

Artnet.com is an art market website. It is operated by Artnet Worldwide Corporation, which has headquarters in New York City.^[2] It is owned by Artnet AG, a German publicly-traded company based in Berlin that is listed on the Frankfurt Stock Exchange.^[2][3] The company increased revenues by 25.3% to €17.3 million in 2015 compared with a year before.^[4]

Company history

The company was founded as Centrox Corporation in 1989 by Pierre Sernet,^[5][6] a French art collector who developed database software which allowed images of artworks to be associated with market prices.^[7] Hans Neuendorf, a German art dealer, began to invest in the company in the 1990s;^[7] he became chairman in 1992 and chief executive officer in 1995.^[5] That same year, the name was changed to Artnet Worldwide Corporation. It was taken over by Artnet AG in 1998.^[8]: 14 Neuendorf's son, Jacob Pabst, became chief executive officer in July 2012.^[9]

Website

Artnet operates an international research and trading platform for the art market, including works of fine art, decorative arts and design. 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.^[10]

In 2008, Artnet launched the first online auctions platform exclusively for works of art.^[11] In 2015, the site saw a 120% increase in new registrations, rising sell-through rates, and a notable increase in numbers of lots sold.^[12]

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.^[13]

In February 2014, the company launched a website, Artnet News. Benjamin Genocchio, former editorial director of Louise Blouin Media, was appointed editor-in-chief.^[14][15]

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.^[12][4] Market value and long-term price developments of artworks can be researched online.^[16]

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,^[17] it is the largest network of its kind, and generates inquiries from both collectors and first-time buyers.^[12]

Subscribing galleries can list works for sale on the site.^[18]

Collaborations

In 2004, Artnet and the international auction house Sotheby's began a collaboration.^[19] A collaboration with Art Basel/Art Basel Miami Beach was also launched in 2007.^[20]

References

1. "Annual Report 2019" (PDF). artnet AG. Archived (PDF) from the original on 25 July 2021. Retrieved 11 August 2020.
2. Georgina Adam (8 May 2015). "The Art Market: outside the white cube" Archived 2016-07-30 at the Wayback Machine, The Financial Times. Accessed September 2015.
3. Randy Kennedy (21 June 2011), "A Resurgence in Art Buying Over the Web" Archived 2017-04-09 at the Wayback Machine, The New York Times. Accessed September 2015.
4. Annual Report 2015 Archived 2017-02-15 at the Wayback Machine. Artnet AG. Accessed March 2017.
5. "About Us: Fact Sheet", Artnet. Archived 31 January 2009.
6. Company Overview of Artnet Worldwide Corporation Archived 2017-06-20 at the Wayback Machine. Bloomberg L.P. Accessed September 2015.
7. Thomas Hüetlin, Christopher Sultan (trans.) (7 June 2012). "Online Rebellion: Dealer Tries to Liberate Art from the Elite" Archived 2016-12-07 at the Wayback Machine, Spiegel International. Accessed September 2015.
8. Annual Report 2014 Archived 2015-09-07 at the Wayback Machine. Artnet AG. Accessed September 2015.
9. Catherine Hickley (25 June 2012). "Artnet Founder Neuendorf Cedes CEO Role to Eldest Son Pabst" Archived 2014-06-05 at the Wayback Machine, Bloomberg L.P. Accessed September 2015.
10. "OnVista". Archived from the original on 1 June 2015. Retrieved 12 November 2016.
11. "Annual Report 2009" (PDF). p. 14. Archived (PDF) from the original on 16 December 2011. Retrieved 26 May 2010.
12. Artnet Archived 2017-01-26 at the Wayback Machine. Accessed March 2017.
13. "Annual Report 2009" (PDF). p. 9. Archived (PDF) from the original on 16 December 2011. Retrieved 26 May 2010.
14. Carol Vogel (12 December 2013). "Steve McQueen Among 6 Hugo Boss Prize Finalists" Archived 2017-06-24 at the Wayback Machine, The New York Times. Accessed September 2015.
15. [s.n.] (15 January 2014). "Benjamin Genocchio To Lead Art Net's Global Art Market Newswire: Artnet News" Archived 2015-11-10 at the Wayback Machine, Media Wired Daily. Accessed September 2015.
16. Vogel, Carol (15 November 2009). "Art Prices (and Mood) Inch Back Up". The New York Times. Archived from the original on 30 May 2013. Retrieved 26 May 2010.
17. Peake, Mike (4 October 2009). ""The 10 best visual websites"". The Times. Retrieved 26 May 2010.
18. Sapienza, Terri (3 September 2009). "Resources for Finding and Decorating with Art". The Washington Post. Archived from the original on 27 March 2016. Retrieved 18 September 2009.
19. "Investments you can live with" CNNMoney.com. Money.cnn.com Archived 2022-10-04 at the Wayback Machine. Retrieved 26 May 2010.
20. Liberman, Gail. "Managing your Future. How to buy art in today's market". Palm Beach Daily News, 24 January 2010.