RCS - artnet AG - Artnet Launches New Database

Artnet AGAnnouncement

24/03/2023 17:15

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RNS Number : 2083U  artnet AG  24 March 2023

Artnet Launches New, Mobile-Optimized Price Database

·      Reimagined, intuitive user experience

·      Elastic search functionality

·      Responsive Analytics

·      API first architecture

New York/ Berlin: March 24, 2023: Artnet AG, the leading platform for art
market data and media, and the global online marketplace for fine art, is
excited to announce the release of its reimagined Price Database -  the same
trusted data with a new intuitive and contemporary experience.

The renewed Price Database is built on a new API-first architecture,
introducing the opportunity for transformational new data delivery formats. A
mobile-optimized design will ease access to our global user base, and the
implementation of elastic search functionality introduces vast new search
possibilities.

Artnet's Data Science team has produced intelligent, reactive analytics that
not only send suggestions and alerts tailored to a user's search requirements,
but also generate deep insight and understanding of the art market. Some of
the insights provided are differences in the estimate and sale price as well
as comparisons to similar artists and categories. Through ongoing investment
in the Price Database product, Artnet continues to lead the charge in creating
market transparency as it strives towards its vision of creating a more
efficient global art market.

"The release of the new Price Database is a major milestone on Artnet's
product development roadmap, and sets a foundation for our future platform
experience. Many more will follow this year. Artnet is actively working to
implement several important optimisations and features on the platform to
further improve the user experience." said Jacob Pabst, CEO

Artnet's new, mobile optimized Price Database

Introduced in 1989, the Price Database has shaped the art market. This
revolutionary product was a major  driving force behind the art market's
tremendous expansion and fundamentally altered how art is bought and sold. The
Price Database is the industry gold standard and the unquestioned leader in
art market data, with over 16 million auction records and over 200 million
data points.

Veteran auctioneer and art dealer Simon de Pury said: "Artnet is an essential
tool for both art market professionals and art lovers at large. Every day, I
consult its Price Database."

Artnet's clients include top auction houses such as Sotheby's and Christie's,
financial media outlets like Bloomberg and Forbes, and governmental
institutions such as the IRS and FBI. Now, our customers can navigate the art
market confidently- without barriers. Search for every piece - across all
mediums - sold at notable auction houses since 1985. Users can discover an
artwork's market value at their desk-or on the auction floor-in an instant.
Our specialists verify every piece of data we hold, which is unique in the
industry and the reason why world-famous art institutions and auction houses
put their faith in us, every single day.

"The sky-high prices we see today would have been impossible without the Price
Database. Before that, people were completely in the dark about the value of
paintings," said Hans Neuendorf, founder, Artnet.

Click through to discover the new Price Database
(https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=bd5c2ffdd738b6667e245780948dd852&application_id=1592207&site_id=news_data&application_name=news)

About Artnet

Artnet has an unparalleled 60 million unique users annually, making it the
largest global platform for fine art. Founded in 1989, Artnet has
revolutionized how people discover, research, and collect art today. Artnet's
market data is a mission-critical resource for the art industry, encompassing
more than 16 million auction results and AI- and ML-driven analytics providing
unparalleled transparency and insight into the art market. Artnet's
marketplace connects leading galleries and auction houses with our global
audience, offering a curated selection of over 250,000 artworks for sale
worldwide. Artnet Auctions, the pioneering online-only auction platform,
offers unprecedented reach, liquidity, and efficiency. Artnet News covers the
events, trends, and people shaping the global art market with up-to-the-minute
analysis and expert commentary. It is the most-read news publication in the
fine art industry, with a rapidly growing dedicated audience. Artnet's broad
synergistic product offering provides a comprehensive ecosystem that drives
and informs the modern art market.

Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the
segment with the highest transparency standards. Most operations are
headquartered in New York at its wholly-owned subsidiary, Artnet Worldwide
Corporation, a New York-based entity founded in 1989. Artnet Worldwide Corp.
owns a London-based subsidiary, Artnet UK Ltd.

Further Investor-relations related news and publications can be found here
(https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=31868023c2e1d4fab5723c9bf18e77a3&application_id=1592207&site_id=news_data&application_name=news)

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31

Contact:

Sophie Neuendorf

sneuendorf@artnet.com

 

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