Exciting Online Art Auction News - artmarketblog.com Amongst the plethora of emails that I received in my inbox this week were some rather interesting press releases announcing various developments in the cut throat world of online art sales.
News-Antique.com - Apr 24,2008 - Amongst the plethora of emails that I received in my inbox this week were some rather interesting press releases announcing various developments in the cut throat world of online art sales. Firstly, Ebay has announced that they will stop offering the live auctions service which is used mostly by art and antique auction houses as of December 31st. The Ebay Live Auctions (http://www.ebayliveauctions.com) service offers members the ability to place online bids at traditional auctions being conducted at physical locations in real time as well as the ability to place online absentee bids for the live auctions.
Following the announcement by ebay that they were eliminating their live auction service an announcement was made by Artfact (http://www.artfact.com), the world’s largest fine art auction database service, that they will be launching their own online live bidding platform (http://www.artfactauctions.com). According to the President of Artfact, Ron Funston, “eBay demonstrated the potential of a live online bidding platform to auction houses. However, many traditional auction houses are disillusioned with eBay’s lack of focus on their specific needs. For years, quite a few of our top-tier auction house partners have been asking us to help them establish their own global marketplace, engineered to their unique needs. So, in many ways I feel we have been preparing for this day for 20 years.”
In other news, the online artist’s community DeviantArt (http://www.deviantart.com) has reportedly raised $3.5 million dollars in funding with DivX Inc., the company which develops DivX technology, software and products, listed as a shareholder. There is no word yet as to what the money will be used for but one would presume that at least some of it will be used to improve the sites infrastructure and develop the DeviantArt brand.
Last, but not least, Texas based Heritage Auctions (http://www.ha.com) will be holding their first Russian Fine Art Auction on the 4th of June which will include works by the Russian master artists: Mikhail Konstantinovich Klodt, Nikolai Timkov, Konstantin Makovsky, David Burliuk, Konstantin Yuon and Ivan Kliun. According to their website “Heritage’s inaugural auction of Russian fine art follows their sale of Ivan Konstantinovich Aivazovsky’s remarkable Pushkin at the Water’s Edge which they sold in Dallas last October for a total of $1.6 million. With many noted Russian artists’ works in this sale estimated at well over $200,000 each, this auction promises to set records for American-owned auction houses that are entering the exciting Russian fine art market”
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.