Artprice Marketplace Compared with the Major Auction Houses Initial Results from Artprice Stores: the Artprice Marketplace Compared with the Major Auction Houses
auctions in 2004 was EUR 5,228, and only 4 pieces exceeded the USD 1 million mark. On Artprice, the average price of works offered in the standardised Classified Ads by French sellers was EUR 7,289, and if we look at Artprice's entire marketplace, there are regularly twenty works being offered for over USD 1 million.
In its first press release, dated 19 January 2005, announcing the launch of its standardised marketplace, Artprice expressed the ambition of offering "an alternative situated between the market managed by galleries and auction houses on the one hand and the market that has developed on Ebay on the other". Now, in mid-June, there are more than 9000 works of art for sale everyday on Artprice with an average price of EUR 16,700 which confirms that the ambition expressed back in January has become a reality.
In its 2004 art market report for the three main auction houses by volume (Christie's, Sotheby's et Bonhams) Artprice counted a total annual volume of 63,126 works of Fine Art. This figure compares with the last report published by Artprice's econometrics department.
This latter report indicates that on the basis of the daily volumes of works proposed on its standardised market to 20 June 2005, Artprice is able to raise its forecast for the total number of works offered over one year to 72,000. This would represent 22.3% of the global Fine Art market by volume, and would be greater in volume terms than the entire French art auction market during 2004.
Such a volume of works would appear to confirm that Artprice's marketplace is larger in volume than that of the leading auction house in 2005. At its EGM on 30 June 2005, Artprice will propose an extension of its corporate purpose to allow the group to play a role at every stage of the transaction processes and throughout the value chain of its standardised marketplace.
Artprice, the world leader in art market information, lists over 21 million auction prices and indices covering over 306,000 artists collected from 2,900 international auction houses. Artprice daily serves the main financial press titles and agencies with the art market trends. Artprice Classifieds visible to 900,000 Artprice members for buying and selling art works.
Artprice is listed on Eurolist by Euronext Paris: Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF
