Art Business

Rayah Levy: why ArteQuesta embraces Bitcoin

By embracing Bitcoin as a form of currency, the art world can create a lasting record of an item’s provenance. That is the key reason why Rayah Levy, founder and director of Mill Valley, CA-based fine art investment company ArteQuesta, has decided to embrace the digital currency. Not controlled by …

READ MORE →
Art Business

New global arts club launches

A new global arts club, The Cultivist, launched in London on Friday. It is the brainchild of Marlies Verhoeven and Daisy Peat, who previously worked together for over six years at Sotheby’s. Their aim is to offer “intimate and privileged access to the art world through unique experiences, expert knowledge …

READ MORE →
Art Business

Canny savings: how Fine Art Bourse does it

It sounds almost too good to be true: Tim Goodman’s Fine Art Bourse (FAB) went live at the end of June a buyer’s commission of only 5%, compared to the 25% fee commanded by traditionalists Sotheby’s and Christie’s. While this head-on challenge to the duopoly has been much publicised, one …

READ MORE →
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 …

READ MORE →
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 …

READ MORE →
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 …

READ MORE →
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 …

READ MORE →
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 …

READ MORE →
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 …

READ MORE →
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 …

READ MORE →