Artprice Enters Online Auction Arena

  • January 03, 2012 11:58

  • Email
Auction gavel

French-owned Artprice, the art information and price database website, will launch its online auctions in a competitive market space this month.

Online auction service will commence on January 18, according to a company release. Previews of upcoming lots will begin on January 9.

Artprice reports it has 1.3 million members in more than 90 countries, and several thousand lots are already uploaded for auctions.

The company says the new enterprise not only represents a "dematerialised art auction environment," outside the realm of the major bricks-and-mortar auction houses, but also that the online auctions will be "beneficial to France" which has been slipping behind in art sales volumes for decades.

France now ranks fourth in the world for art transactions, behind China, the U.S., and the U.K.

Artprice will offer a 100% guarantee of security and payment for parties in all transactions through a partnership with Escrow.com, according to the company statement.

Commission rates are low, decreasing from 9% to 5% depending on the value (in USD) of the transaction: 9% from 0 to 7,500 dollars; 7% from 7,500.01 to 15,000 dollars and 5% for transactions over 15,000.01 dollars.

Artprice will be competing with already established online auction providers such as artnet and Liveauctioneers as well as traditional auction houses with online bidding capabilites.

An estimated $80 billion in art was traded in 2011, reports Skates.

 

 

 


  • Email

More News Feed Headlines

Joseph Mallord William Turner (1775-1851) Sunset, 1830-5.

After 13 Years, ARTFIXdaily to Cease Daily News Service

  • ArtfixDaily / August 15th, 2022

ARTFIXdaily will end weekday e-newsletter service after 13 years of publishing art world press releases, events and ...

Read More...
Einar and Jamex de la Torre, Critical Mass, 2002 (Courtesy of the Cheech Marin Collection and Riverside Art Museum).

Inaugural Exhibition at The Cheech Highlights Groundbreaking Chicano Artists

  • ArtfixDaily / July 7th, 2022

One of the nation’s first permanent spaces dedicated to showcasing Chicano art and culture opened on June ...

Read More...
Jacob Lawrence,.  .  .  is life so dear or peace so sweet as to be purchased at the price of chains and slavery?—Patrick Henry,1775 , Panel 1, 1955, from Struggle: From the History of the American People, 1954–56, egg tempera on hardboard.  Collection of Harvey and Harvey-Ann Ross.  © 2022 The Jacob and Gwendolyn Knight Lawrence Foundation, Seattle / Artists Rights Society (ARS), New York.

Crystal Bridges Explores the U.S. Constitution Through Art in New Exhibition 'We the People: The Radical Notion of Democracy'

  • ArtfixDaily / July 7th, 2022

Original print of the U.S. Constitution headlines exhibition sponsored by Ken Griffin (who purchased it for $43.2 ...

Read More...
Salvador Dalí (1904–1989), Christ of St John of the Cross, 1951, oil on canvas © CSG CIC Glasgow Museums Collection

Dalí / El Greco Side-by-Side Exhibit Prompts: 'Are They Really Paintings of the Same Thing?'

  • ArtfixDaily / July 6th, 2022

From July 9 to December 4, 2022, The Auckland Project in the U.K. will unite two Spanish masterpieces from British ...

Read More...

Related Press Releases

Related Events

Goto Calendar