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artnet AG: No Summer Slow Down for Artnet Auctions

·4-min read

DGAP-News: artnet AG / Key word(s): Monthly Figures/Development of Sales
15.09.2020 / 15:10
The issuer is solely responsible for the content of this announcement.

No Summer Slow Down for Artnet Auctions

Sales Increased 77% Year-Over-Year In July, 24% Year-Over-Year in August

Number Of Bids Placed Up 62% Year-Over-Year In July And August Combined

New Auction Record Set For Artists Kool Koor In Artnet Auctions Urban Art Sale

Berlin/New York, September 15, 2020- Berlin-based Artnet AG, the leading provider of art market data and online-only fine art auctions, reports strong sales for August. In an industry that typically sees a slowdown in the summer months, Artnet Auctions continues to post record successes. Artnet Auctions saw a year-over-year increase in sales of 77% in July, and 24% in August. Traffic to the site increased in July and August as well, with the number of bids placed up by 62% YOY in July and August combined--thanks to Auctions' pioneering, online-only platform that offers collectors the chance to browse and bid all the time, from anywhere in the world.

"Not only are we seeing records being shattered in terms of the volume we are facilitating, but we are seeing higher quality works come to market at times when consignors have been historically more hesitant to sell," said Colleen Cash, Director of Auctions. "We are the only platform out there that sells great works, all the time. The flexibility of our platform allows us to say yes to consignors, while other houses are tied to a rigid system of selling seasons."

In a fall season that promises to be unlike any other on record with hybrid and digital offerings popping up around the world, Artnet Auctions anticipates the appetite for online buying to continue well into the coming months and beyond. "September is already off to a banner start, and just yesterday our team closed a strong sale featuring Urban Art. We achieved a new record for Kool Kor--his Untitled canvas sold for $90,000, smashing the artist's previous auction record of $23,000," Cash said. The sale overall saw a 95% increase in total value realized versus the same sale held at this time last year.

This month alone, Auctions is offering a diverse group of six sales across categories, including modern, contemporary, and photographs. Edward Sheriff Curtis: Platinum Masterprints presents a range of rare vintage photographs by the famed photographer of the American West; and 20th-Century Art spotlights works by major artists from the pre-war period through the end of the century. Sales still upcoming this month are Post-War & Contemporary Photographs, Contemporary American Art, and Premier Prints & Multiples--sales sure to attract the attention of both the new collector and seasoned art world insider alike.

To explore Artnet Auctions' current and upcoming offerings and consign work for an upcoming sale, visit us at www.artnet.com/auctions/.

For press inquiries, please contact: press@artnet.com

About Artnet

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 discover and collect art today.

The Price Database contains approximately 14 million auction results from 1,800 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.

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31


15.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

artnet AG

Oranienstraße 164

10969 Berlin

Germany

Phone:

+49 (0)30 20 91 78 -0

Fax:

+49 (0)30 20 91 78 -29

E-mail:

info@artnet.de

Internet:

www.artnet.de

ISIN:

DE000A1K0375

WKN:

A1K037

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange

EQS News ID:

1131969


 

End of News

DGAP News Service

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