Artprice Enters the Online Auction Business

Artprice has just announced a new international online auction site.  The site will allow collectors to buy and sell on the auction site with guarantees of secure payments through Escrow.com and participation with INTERPOL for sellers to access the Stolen Works of Art database.  The site will also encourage auction houses to use the new service which will compete with Artfact and Liveauctioneers auction platforms.  Artprice and their auction strategy also seems to be following the lead of other major houses with a focus on China.

For individuals looking to sell art, antiques and design, there are two options, either by auction, (see the second block quote) or through a free classified system.  The auction system lets the seller select the final purchaser from the three highest bidders. The auction will be active in selling fine art, antiques and design.

I wonder if this might be a method for appraisers to broker pieces directly.  It will be interesting to see if this concept takes off.

E-Commerce Bytes reports on the new Artprice auction site

Artprice, a leading publisher of art market information, will launch an online auction service this month thanks to restrictions recently lifted on French auction houses. Artfire founder and CEO Thierry Ehrmann said, "It took twelve years and lots of patience and conviction to pursue a legal battle against a 500 year-old monopoly that is today demolished." Artfire is working with Escrow.com to provide a tailored solution that offers a 100% guarantee of security and payment for buyers and sellers. Artprice also has an agreement with INTERPOL, allowing buyers to access its international Stolen Works of Art database to check if a work being offered for sale is subject to any legal dispute or search warrant. Artprice is setting up white labels for auction houses that will use Artprice and its Standardised Marketplace as their technical host for online auctions, thereby providing Artprice - which is not an auctioneer - with another source of income. Artprice said its figures for 2011 have already confirmed China's domination of the global art market for the second consecutive year. Artprice said it was preparing for the opening of its subsidiary and clean rooms in Hong Kong that will be a testing ground for the People's Republic of China and an entry point for Asia. Artprice is increasing its editorial partnership with Art Stage Singapore, Asia's largest Contemporary Art Fair and will become a strategic partner with Art HK (Hong Kong).

Source: E Commerce Bytes

Artprice reports on the new auction site

Put up a lot for online auction Your transaction 100% secure : the payment of your item guaranteed by Escrow.com, the world leader of online escrow services. Your transaction 100% under control: you determine the parameters of your online auction (start price, dates the auction starts and ends) and you get to choose who you sell your item to, among the best 3 bidders. With artprice's online auctions, your secured payment is released faster than on any other sales channel. The most competitive commission rates on the market, ranging from 5% to 9% only. Watch the price of your artwork soar! You really know the real value of an artwork after it has been put up for auction! You remain anonymous during the whole duration of the auction. Artprice.com's Standardised Market Place® is your chance to make our client file of 1,300,000 members your core business. As they can all list their favorite artists, you are sure that your auction will be followed worldwide by the very art lovers, collectors, professionals and institutions that seek to buy the artist's artworks.

Source: Artprice, click HERE for more info