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DGAP-News: artnet AG / Key word(s): Development of Sales/Market Report
Artnet Auctions Print Sale Sets Records For Total Sales And Individual Works
- Premier Prints & Multiples Sale Achieves 1.7 Million USD
- Andy Warhol Screenprint Set Sold For 456,000 USD
- Record Prices For Works by David Hockney, Damian Hirst, and Gerhard Richter
New York/Berlin, April 14, 2021 - Artnet Auctions' recent Premier Prints & Multiples sale set a new revenue record for a single sale in the history of the online-only auction platform, exceeding 1.7 million USD in total sales. The average price of lots sold hit 38,000 USD - more than double the average for all Artnet Auctions sales in 2020. The sale included historical and contemporary editions ranging from 10,000 USD to more than 100,000 USD. It established new auction records for works by artists Rashid Johnson, Barbara Kruger, Damien Hirst, David Hockney, Elizabeth Peyton, Robert Longo and Gerhard Richter. The top lot was Andy Warhol's Campbell's Soup II, a complete set of 10 screenprints from 1969, which sold for 456,000 USD - the first lot offered in a Prints sale at Artnet Auctions to sell for more than 400,000 USD.
Artnet Auctions has launched several initiatives in 2021 aimed at expanding its curatorial reach and overall market presence. Art of the Americas and Africa Present, two current sales at Artnet Auctions, were launched in partnership with world-renowned experts to bring high-quality works in several of the art market's newer curatorial categories to the platform. The Auctions team is dedicated to surfacing artists and artworks from all reaches of the globe and expanded its offerings to meet the increasing online demand from buyers for high-quality works. In April and May, Artnet Auctions will debut three additional Prints & Multiples sales. "The flexibility of the platform's model and sale calendar has allowed the business to evolve to meet those market needs," said Artnet CEO Jacob Pabst. "Consignors and buyers alike have taken advantage of this competitive edge."
Defying the pandemic-related weakness in the art market, Artnet Auctions' fee-based revenue in 2020 increased by 26% to 4.9 million USD year-over-year. Artnet, therefore, became the fourth biggest auction house in terms of online sales behind Sotheby's, Christie's and Phillips.
Artnet's popularity is also reflected by continuous growth in web traffic. In the first quarter 2021, the number of visitors has increased by 35% year-over-year to a monthly average of 6.2 million.
Artnet is the leading resource for buying, selling, and researching art online. Founded in 1989, Artnet's suite of industry-leading products has revolutionized the way people collect art today. The Price Database contains more than 14 million auction results from 1,900 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with collectors from around the world, offering the most comprehensive overview of artworks for sale. Artnet Auctions was the first dedicated online marketplace for fine art, providing a seamless and efficient collecting experience for both buyers and sellers. Artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary. Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards.
Contact: Sophie Neuendorf - firstname.lastname@example.org
14.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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