PARIS, Dec. 14,
2022 /PRNewswire/ -- Our new version of 800,000
Artists' Homepages from the 4th century to the present day,
bolsters the primary and preferred entry points to all of
Artprice's databases and services because artists indeed are the
foundation on which the art market has been based since its
origin.
With this new version – the most successful since Artprice's
creation – Artprice by Artmarket has received enthusiastic feedback
over the past two months from a selection of target users
throughout the global art market's twelve principal countries. Our
beta testing was accompanied by a methodical feedback retrieval
based on rigorous specifications designed by the team of external
consultants involved in the complete overhaul of Artprice.com over
18 months.
First of all, on a short data sample, Artprice observed a very
significant increase in visits to its site, as well as an extension
of the average connexion time (ACT), especially on its databases,
all good signs for the future of Artmarket.com.
Similarly, according to official Google stats for November 2022, Googlebots have indicated that its
user-agents over one month indexed 28.8 million pages in the
Artprice by Artmarket databases, i.e. 960,000 per day.
As a result of this major deployment and the opening of Artprice
databases to crawling Googlebots (exploration process), the number
of Artists' Homepages and their works (which are the heart of
Artprice by Artmarket) crawled has risen from 0.96 to 2.5 million
per day in evergreen content mode (Googlebot user-agent allowing it
to execute javascript).
A direct result of a well-considered business and legal decision
to open its non-paying directories to indexing engines, this
increase represents, in SEO terms, a major boost to our online
indexation.
The consequence will therefore be a very substantial
contribution to turnover in 2023 because Artprice by Artmarket.com,
as the world leader in Art Market information, has by far the
largest number of artists and artworks in its databases, numbering
in the tens of millions.
According to thierry Ehrmann, Founder of Artprice and CEO of
Artmarket.com:
"Any major network deployment on our different
sites/countries is never a foregone conclusion and it's always an
adrenaline rush for our different teams (myself included) when we
switch to such a substantially new version of Artmarket.com.
Everything went remarkably well and this new version is now 100%
operational."
See the new version of the Artist
Homepage: https://www.artprice.com/artist/15079/wassily-kandinsky
Thus, Artprice customers and members will discover, from the
Artists' Homepages, several centuries of knowledge that have been
organized for 25 years by the historians and editors of Artprice by
Artmarket. In a perfectly intuitive and natural way, they will now
be able to immerse themselves in the exceptional and complex
history of the Art Market, via a human and straightforward pedagogy
that is specific to the identity of Artprice. This will give them a
level of confidence, which is often lacking in the world of
GAFAs.
These Artists' Homepages will allow users access to very
relevant and personalized recommendations to pursue their discovery
of the Art Market and thus generate more sophisticated
subscriptions and therefore more turnover for Artmarket.com.
As previously announced, this change – implemented after
extensive UI/UX research – comes ahead of a substantial price
increase at the beginning of 2023 and is aimed at boosting
Artmarket.com's revenue.
Following a request for proposals with demanding and precise
specifications at the end of 2019, Artprice by Artmarket selected a
team of very high-level external consultants with references from
major accounts with similar processes to those of Artprice. This
team has played a key role in the audit and development of this
major Artprice overhaul, using a solid UI/UX approach.
The quality and efficiency of the work conducted by our
consultants have prompted Artprice by Artmarket to extend the
partnership to 2023, which will mark Artprice's 25th
anniversary.
As a result of the UI/UX approach, new users of Artprice by
Artmarket will be able to explore a vast educational resource
quickly and intuitively via innovative ergonomics designed per the
expectations and needs of users.
The experience now involves "Artprice tutorials" that constantly
guide navigation by providing information on the essential points
to be discovered. These tutorials represent a highly sophisticated
system of signposts that allow the user the best possible
navigation as quickly as possible.
As a result, customers and members of Artprice by Artmarket will
intuitively dive into the heart of Art Market news and will feel
like privileged players.
We used User Experience (UX) design to enhance the experience of
Artprice customers and members as much as possible; to make it as
pleasant and intuitive as possible, whether on mobile, tablet, or
PC/Mac.
Thanks to UX Design, navigation on our site is now more fluid
and more efficient. UX Design is particularly sensitive to
eliminating the feeling of being lost, and this has involved a
careful analysis of the irrational and emotive aspects of
navigation within the Artprice universe.
We used UI Design (User Interface design) to enhance users'
interaction with Artprice databases and services. UI analysis has
been involved in all stages of development up to final deployment
and will continue to play a role in the permanent monitoring of the
public operation phase.
Unlike UX, UI is more focused on the visual aspect to attract
the user's eye and to encourage Artprice users to remain on the
various databases and services.
The UI approach has facilitated navigation through all of
Artprice's decision support tools. Its primary objective is to
attract new prospects and customers, enthusiasts, collectors, and
art market professionals. Thus, Artprice has modified its R&D
policy by collaborating in a highly selective manner with the very
best consultants in the field to acquire new market
share.
thierry Ehrmann: "This new policy of collaborating with
specialized consultants with fresh perspectives provides a definite
gain in time and competitiveness for Artprice which, until
recently, has always managed its new developments internally. In
this digital century, you have to know how to adapt and change very
quickly. Of course, Artprice's original computer programming is not
subject to any outsourcing."
The new deployment implies a complete change in our economic
model, notably by fully integrating paying advertisers into our
databases and services.
These are essentially the 6,500 auction houses around the world
– affiliated with Artprice for over two decades – and which now
spend 98% of their communication budgets (to announce upcoming
sales) on Internet advertising.
These 6,500 historical partner Auction Houses actively
collaborated over the last 18 months development phase of this
latest version of Artprice. They are of course aware that it is in
their interest to collaborate with Artprice as it will draw
attention with discreet and effective prestige to their future
sales. This in turn will generate new recurring income for Artprice
via its proprietary Intranet - a real reference tool for Auction
Houses around the world for 25 years used to appraise, price and
edit their digital and paper sales catalogs.
They can now benefit by being featured on the Artists Homepage
as a paying advertiser and with the aid of search criteria of 7.2
million Artprice clients and members, be able to promote their
future sales with extremely relevant targeting, while being in
perfect compliance with European and American regulations on
confidentiality and the protection of personal data.
Indeed, a 'public sale' is above all dependent on a very precise
corpus of artists whose works 'ultimately' form the basis of the
catalog of the public sale.
On average over the past 50 years, auction houses have spent 34%
of their overall costs on advertising future sales at public
auctions, regardless of the country or the size of the auction
business.
As auctions are now advertised almost exclusively on the
Internet, pressure from Artprice-affiliated auction houses in 2022
to promote their future sales for a fee has found the best response
with this successful new deployment of our Artists' Homepages.
Indeed, the auction houses consider it perfectly logical to
spend their future sales advertising budgets (amounting to 34% of
the costs of the sale) on the Internet, rather than on expensive
and non-computer-targeted newspaper advertising, as the former
targets specifically the profiles of collectors who follow specific
artists.
Sellers of art are willing to invest 34% of their overall
budgets on advertising because they want the works they offer for
sale to fetch the best prices. Above all, they want to avoid unsold
lots which can undermine the value of the works in future
sales.
In the past, Artprice considered online advertising (banners,
etc.) as incompatible with its databases, in terms of readability
and reputation. It was therefore a major challenge to respond to
the demand from Auction Houses while maintaining Artprice's
original DNA.
In this new successful deployment, for the announcement of their
future sales, the 6,500 Auction Houses will be able to integrate
and merge into the entire industrial process of Artprice by
Artmarket, via the new Artists Homepages and via the alerts sent to
Artprice's 7.2 million customers and members (by SMS, RSS, instant
messaging, e-mail, my artists' page, etc.).
It is now possible that future revenue generated from the
promotion of upcoming sales by the 6,500 auction houses
(advertisers affiliated with Artprice since 1997) will ultimately
generate higher revenue than subscriptions, which currently
represent 90% of Artprice's revenue. Artprice by Artmarket.com's
plan is clearly to double its revenue by responding to a
long-standing demand from its partner auction houses.
It should be noted that Artprice's economic outlook is primarily
based on incoming requests from auction houses/auctioneers, and not
outgoing in prospecting mode, which makes all the difference in
terms of human resources and financial costs.
The success of this major deployment will therefore
substantially contribute to a smooth acceptance of the significant
increase in prices of subscriptions and services at the beginning
of January 2023.
With this major revamp of our website and our economic model,
Artprice also aims to reposition artists at the heart of the art
market by introducing the production of Art NFTs, which are one of
the foundations of Web 3.0.
This tremendous overhaul of Artprice by Artmarket.com will also
highlight Artprice's proprietary archive of manuscripts and
original printed auction catalogs (the largest in the world) dating
back to 1700. This archive, in turn, legitimizes its digital
standardization of the Art Market and bolsters its position as
World Leader in Art Market Information for 25 years.
Since 1997 Artprice's primary ambition has been to foster art
market transparency by expanding knowledge from a circle of
insiders to the general population to facilitate its development
and growth. The new presentation of Artprice by Artmarket will
enhance this transparency through access to verified, verifiable,
and above all contextualized data.
At the end of January 2023 when
the redesigned homepage is online, Artprice customers and members
will be able to virtually visit all of its ultra-secure document
collections, manuscripts, and annotated catalogs. This section is
currently being produced and filmed to showcase Artprice's multiple
skills.
In an all-digital era, this gives Artprice customers and members
a unique layer of additional confidence. Artprice has been a Pure
Internet Player since 1997 (with its parent company Serveur Groupe,
which has been on the Internet since 1987), whose knowledge and
processes are based on a core of hundreds of thousands of
manuscripts and original auction catalogs going back over 300 years
(and valued in Artmarket.com's balance sheet at 16 million euros). These documents represent the
entire History of the Art Market since its birth.
Artprice's position as World Leader in Art Market Information
has also been forged by our acquisition of a large number of
well-known specialist art and art-price publishers, as well as
numerous prestigious editorial archives in Europe and the USA during its first ten years of activity
(see our Universal Registration Document (URD) filed each year with
the AMF).
Our new Artists Homepages highlight the wealth and high-added
value of Artmarket.com's databases and services. The use of
algorithmic AI (Artificial Intelligence) allows the 7.2 million
customers and members of Artprice by Artmarket access to highly
relevant and personalized recommendations, and it allows them to
deepen their knowledge of the art market. It will therefore
generate more sophisticated subscriptions and hence more
revenue.
Artprice by Artmarket in 2023: toward the Grail of Art Market
expertise
One of Artprice by Artmarket.com's objectives is to roll out, in
2023, a premium professional subscription above €1,800. Artprice,
with its globally unique editorial collection covering over 300
years of art market activity can use the repeat sales method to
retrace the progression of a unique (and therefore homogeneous)
work through the decades, centuries, countries, and current or past
auction houses.
In terms of art valuation, this service represents an absolute
grail and it will be the basis for a premium subscription that only
Artprice by Artmarket is capable of producing, based on its
editorial collection covering over 300 years of art market
activity, combined with its Big Data analysis capacity and its
highly sophisticated proprietary econometric tools.
Note that with just one single relevant request on Artprice, a
subscriber can justify the price of an annual 'premium'
subscription, which is not necessarily the case for all
professional databases.
In addition, our new Artists Homepages bring Artprice by
Artmarket customers and members fully into the world of Web 3.0 and
– by extension – into the domain of Art NFTs, thereby giving
Artmarket.com a considerable lead in its core business.
With cryptocurrencies, Art NFTs, and the Metaverse, new
collectors and art enthusiasts have arrived, often considerably
younger than their predecessors. There are now more than 450
million potential buyers of Art NFTs. These art enthusiasts and
collectors have no intention of abandoning their Web 3.0
crypto-universe, which is indisputably the future of the
Internet.
This overhaul includes, of course, the arrival of Art NFTs, the
growth of which is exponential and constitutes a paradigm shift for
artists in the art market who find themselves once again masters of
their destiny, as was the case during the Renaissance.
All of the art market's market-makers, and in particular the
majority of its auction houses around the world, now have an NFT
department for cataloged and online sales throughout the year.
Likewise, all the major structures in the museum/art galleries
industry are starting to publish their own NFTs.
With its globally unique specificities, Artprice now has
ambitions to capture the market for the certification of primary
issues of Art NFTs via legitimate and fair market competition.
In preparation for this major and successful revamp of our site
and our model Artprice and its consultants had the opportunity to
conduct a series of interviews and user tests (so-called 'UX/UI
guerilla testing') with its historical clients and its new
customers and members. This opportunity was provided by the Covid
lockdowns since many of our customers found themselves with more
time on their hands than usual.
thierry Ehrmann, Founder of Artprice and CEO of Artmarket.com,
also emphasizes the eco-responsible aspect of Artprice's latest
deployments: "Since 2017 we have been developing processes
to optimize the use of our servers by adapting the energy
requirement and reducing the energy consumption of Artprice's Data
Centers worldwide by 40% in 2022, and a target of a 50% reduction
in 2023. This has been achieved by using the principle of
micro-grids which allow better exploitation of production units (a
multiple technologies decision) and the use of mainly renewable
energies.
Through its commitment to the micro-grid, the Artprice by
Artmarket Data Centers are part of a responsible and shared
environmental logic (without risk for Artprice's processing
requirements) which involves analyzing the evolution of renewable
energies concerning new applied sciences and ongoing research
according to the principle of "formativity" (notion coined by Luigi
Pareyson).
Given the generous geography of our head office (Domaine de la
Source, built in 1630), we are developing, with partners, a
'climatic' system based on the technique of artesian wells which
capture water from deep layers of subsoil. This system will be
protected by patents that will be filed by Artprice and Groupe
Serveur, and it will respond in an ecologically responsible manner
to the current energy crisis which is far more serious than the two
oil shocks of 1973 and 1979 and is only just beginning.
As a global leader, Artprice considers eco-responsibility
a philosophical and moral obligation. It is coherent with our
market position, our corporate culture, and the sentiments of our
customers and shareholders.
Artprice by Artmarket's offer will remain highly competitive
even after the January 2023 price
increase, with a further margin for additional price rises in the
future.
Artprice's databases are today unquestionably the most
comprehensive in the world with nearly 800,000 artists referenced
with their biographies, auction results, indices, decision-making
help tools, signatures & monograms, and information about past
and future sales. In total, this adds up to several tens of
millions of inter-connected and high-value-added data logs, all
protected by various intellectual property rights.
Artmarket.com has been profitable for a decade, so the bulk of
the additional revenue will translate into additional net income
because under the French fiscal regime, we can generate up to
90 million euros p/a without
incurring additional tax charges.
Despite the substantial price increase, Artprice by Artmarket's
offer remains by far the best-placed compared with the slowly
evolving offer from our competition which offers limited-search
annual professional subscriptions (e.g. 150 queries for €350/year,
450 queries for €975/year and, in the event of overrun, €2.45 per
search). (Information certified by Court Bailiff in November 2022).
In the world of "unlimited" offers, these offers are quite
simply anachronistic. Moreover, the competition's offer is based on
data regarding only 330,000 artists and from a selection of only
1,600 auction houses, whereas Artprice by Artmarket covers 800,000
artists and 6,400 auction houses, with unlimited subscriptions from
€265 to €529/year including a range of indices, decision-making
tools and signatures & monograms that is unique in the
world.
In short, Artprice's offer will remain highly competitive even
after the fee increase and with a further margin for additional
price rises in the future.
Going forward, our indisputable position as World Leader in Art
Market Information since 1997 should enable Artprice to generate
additional income through annual price increases, justified as
required, notably by the constant enrichment of its various
databases with at least one million ultra-qualified data logs added
every year for its customers. Because Artprice provides its
customers with essential data that cannot be found anywhere
else.
The Art Market is displaying insolent health, with regular
records hammered across all artistic periods during recent sales in
2022 and, very likely, in future sales during 2023.
Somewhat counter-intuitively – given the geopolitical and
economic context – the global art market is displaying insolent
health, with regular auction records being hammered for works from
all artistic periods, regardless of the country, during recent
sales sessions. And there have been no cancellations of classic
and/or prestige cataloged sales for 2022 or 2023 which are the main
indicators of the Art Market.
The major auction houses and investors are well aware that art
is a safe-haven investment, as shown by the Artprice100© index,
which has outperformed traditional stock market indices. The
current period of stock market jitters has channeled new funds and
investments into the art market.
Artprice had already noted that during the main crises of the
past (the Nasdaq crash in 2000, 9/11 in 2001, the Afghan war in
2001, the Iraq war in 2003, the
subprime and CDS crises in 2007, the negative rates crisis in 2011,
the 2019 Covid crisis, etc.) the art market was less impacted than
other markets and the economy.
Christie's recent dispersal of the Paul
Allen collection proves this point very firmly by turning a
new page in the history of auctions. It was the first private
collection to generate over one billion
dollars at auction ($1.62
billion) with five works selling above the $100 million threshold.
This new record follows one set by Christie's competitor
Sotheby's when it took $922 million
from the sale of the Macklowe Collection between autumn 2021 and
spring 2022.
Thanks to the dispersion of these exceptional American
collections, the year 2022 has become an outstanding year in the
history of public sales.
As we approach the end of 2022, it is abundantly clear that the
war on European soil and fears of a recession
have not got the better of the Art Market.
Image:
[https://imgpublic.artprice.com/img/wp/sites/11/2022/12/tablette-page-artiste_en.png]
Copyright 1987-2022 thierry Ehrmann www.artprice.com -
www.artmarket.com
- Don't hesitate to contact our Econometrics
Department for your requirements regarding statistics and
personalized studies: econometrics@artprice.com
- Try our services (free demo):
https://www.artprice.com/demo
- Subscribe to our services:
https://www.artprice.com/subscription
About Artmarket:
Artmarket.com is listed on Eurolist by Euronext Paris,
SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters:
ARTF.
Discover Artmarket and its Artprice department on video:
www.artprice.com/video
Artmarket and its Artprice department was founded in 1997 by its
CEO, thierry Ehrmann. Artmarket and its Artprice department is
controlled by Groupe Serveur, created in 1987.
See certified biography in Who's who ©:
Biographie_thierry_Ehrmann_2022_WhosWhoInFrance.pdf
Artmarket is a global player in the Art Market with, among other
structures, its Artprice department, world leader in the
accumulation, management and exploitation of historical and current
art market information in databanks containing over 30 million
indices and auction results, covering more than 800,000
artists.
Artprice by Artmarket, the world leader in information on the
art market, has set itself the ambition through its Global
Standardized Marketplace to be the world's leading Fine Art NFT
platform.
Artprice Images® allows unlimited access to the largest Art
Market image bank in the world: no less than 180 million digital
images of photographs or engraved reproductions of artworks from
1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a
permanent basis from 6400 Auction Houses and produces key Art
Market information for the main press and media agencies (7,200
publications). Its 7.2 million ('members log in'+social media)
users have access to ads posted by other members, a network that
today represents the leading Global Standardized Marketplace® to
buy and sell artworks at a fixed or bid price (auctions regulated
by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code).
Artmarket with its Artprice department, has been awarded the
State label "Innovative Company" by the Public Investment Bank
(BPI) (for the second time in November
2018 for a new period of 3 years) which is supporting the
company in its project to consolidate its position as a global
player in the market art.
Artprice releases its 2022 Ultra-Contemporary Art Market
Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022
The Artprice 2022 half-year report: the art market returns to
strong growth in the West:
https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com
Artprice by Artmarket's 2020 Global Art Market Report published
in March 2022:
https://www.artprice.com/artprice-reports/the-art-market-in-2021
Artprice's 2020/21 Contemporary Art Market Report by
Artmarket.com:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021
Index of press releases posted by Artmarket with its Artprice
department:
serveur.serveur.com/Press_Release/pressreleaseEN.htm
Follow all the Art Market news in real time with Artmarket and
its Artprice department on Facebook and Twitter:
www.facebook.com/artpricedotcom/ (over 5.9 million
followers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom
Discover the alchemy and universe of Artmarket and its artprice
department https://www.artprice.com/video headquartered at the
famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit
The New York Times):
https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
- L'Obs - The Museum of the Future:
https://youtu.be/29LXBPJrs-o
- www.facebook.com/la.demeure.du.chaos.theabodeofchaos999
(over 4 million followers)
- https://vimeo.com/124643720
Contact Artmarket.com and its Artprice department - Contact:
Thierry Ehrmann, ir@artmarket.com
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