Art Business

Guiding the buyer: the early days of investing in art

Where did the idea of art as an investment begin? Dr Sandra van Ginhoven of the Duke Art Law & Markets Initiative (DALMI) at Duke University, Durham, NC, has been conducting research into the history of the art market, with particular interest in what insights can be gleaned for the …

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Art Business

New Zealand business breaks new ground with voluntary artists’ resale royalty

A new art business, founded by Simon Bowerbank and Charles Ninow, will be the first art business in New Zealand to offer a voluntary resale royalty of 2.5 percent of the hammer price, paid at no cost to the vendor or buyer, of any work by a living artist at …

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Art Business

Tim Goodman’s online auction house takes on Sotheby’s and Christie’s

New global online auction house Fine Art Bourse (F.A.B.) is challenging the centuries old business model established by Sotheby’s and Christie’s by slashing fees and simplifying the auction process. Just launched at www.fineartbourse.com, F.A.B. will charge a buyer’s commission of only 5%, compared to the 25% fee commanded by most …

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Art BusinessArt Finance

Sandip Mallik: why Prime Art Capital is different

When Sandip Mallik set up Prime Art Capital in June 2013 he was responding to several key needs he had identified within the art world. A boutique art advisory and investment management firm, Prime Art Capital leverages technology for clients who are interested in art and other fine collectibles as …

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Art Business

Art market commission rip off is over, says Artplode CEO

The days of paying commission to sell art are over, according to Maureen McCarthy, founder and CEO of Artplode, a platform where art is traded direct between buyers and sellers all over the world. The site has attracted millions of dollars in listings of artworks from sellers in more than 40 …

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Art Business

Unique collectors’ app attracts venture capital interest

A unique app that enables collectors to manage their collections on their iPhones is attracting interest from venture capital firms. Prime Collector is an Apple-compatible (iOS) app that enables collectors to digitise, manage and secure their assets. It was launched in November 2014 by Prime Art Capital, a global art …

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Art Business

Brook Hazelton appointed president, Client Management, Christie’s Americas

Brook Hazelton has joined Christie’s as president, Client Management Americas. In this newly created role, Hazelton reports to Jussi Pylkkänen, Christie’s global president, and works closely with Marc Porter, Christie’s chairman of the Americas, to lead the firm’s client-focused teams and activities throughout the region. As a key member of the firm’s global …

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Art Business

Hugo Weihe: how Saffronart will grow the Indian market

For Hugo Weihe, his new role as CEO of auctioneer Saffronart is a chance to take the market for Indian art to the next level – primarily in India, but also internationally. It’s a market he knows well: he previously spent 16 years at Christie’s, where he was instrumental in …

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Art Business

Artprice and Artnet deny acquisition rumours

Art market information providers Artnet and Artprice have denied rumours that Artprice is planning to acquire Artnet. “The company Artprice has no outstanding bond debt and no bank debt and has never conducted any capital increases except to exercise employee share options,” said Artnet founder and CEO Thierry Ehrmann. “Artprice …

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Art Business

David Goodman joins Sotheby’s as Digital and Marketing chief

David Goodman started work on Monday as executive vice president of Digital Development and Marketing for Sotheby’s. Goodman is based in New York and reports to Tad Smith, the company’s president and chief executive officer. He joins Sotheby’s from The Madison Square Garden Company, where he was the president of Productions …

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