Online Gallery Expanding

The New York times reports the new contemporary art Internet site Artrspace.com has recently raised  $2.5 million from a group of investors.  In addition the site has also signed up some powerful galleries and museums as partners.

The site will sell contemporary art from emerging artists in the range of $100 to over $20,000.  The site is also partnering with Artnet and the VIP online art fair.

The site might be of interest for appraisers as it lists the artists, images of their work and in many circumstances the asking price.

The NY Times reports

Artspace.com, one of a wave of online art dealers that is starting to change the way contemporary art is bought and sold, said on Monday that it had raised $2.5 million from a group of investors and had also signed up several prominent museums and galleries – among them the New Museum, the Institute of Contemporary Art in Philadelphia and the Mexico City gallery kurimanzutto – as partners that will offer works to buyers through the Web site.

Founded last March, Artspace sells prints, photographs and some sculpture and unique pieces by well-known and emerging artists, with prices ranging from $100 to more than $20,000. Proceeds from the sale of pieces offered by museums and other art nonprofits help to support those institutions. Artspace has joined several other online dealers that are beginning to draw art commerce to the Web, including Artnet, which conducts online auctions; the VIP Art Fair, a limited-time virtual fair that began last year and opens Feb. 3 for its second iteration; and Paddle8, which organizes curated online exhibitions with pieces for sale from major galleries.

Artspace already offers works from partners like the Guggenheim, the Brooklyn Museum, the David Zwirner gallery in New York and White Cube in London. Along with the financing from investors, the site also announced that it had hired Andrew Goldstein, the former executive editor of the art news site Artinfo, to serve as Artspace’s editor-in-chief, in an effort by the site to provide more news, educational material and information about artists to prospective buyers.

Source: The NY Times