- Art as an Asset Class - Anders Petterson Managing Director & Founder ArtTactic
- Art Insurance - Robert Korzinek, Head of Asset Protection W/ R/ B Underwriting
- Art Lending - Nigel Glenday Managing Director, Strategy Athena Art Finance
- Art Trends - Stephen Meadowcroft, Director Gurr Johns
- Standardization - Linda Selvin, Executive Director Appraisers Association of America
- Art Advisory - Spencer Ewen, Managing Director Seymours
- Block Chain - Ed Johnson, Head of Digital ValueMyStuff
I am just reviewing the report and it has some interesting topics, and contributors, although I still have concerns over online appraisals, how they are represented and used. It also appears the data used in the report is derived from valuations by ValueMyStuff while most of the above reports are not necessarily connected to the ValueMyStuff data used in the report.
The report contains topics on
- Arms & Medals
- Decorative Arts
- Ethnic Art
- Fine Art
- Jewellery & Watches
- Memorabilia
- Middle East, Chinese & Asian
- Sculpture
- Stamps, Coins & Books
- Collecting
Please donwload and review the report and pass along any comments. I will try to post again after a more detailed review of the report and data.
Press release on the re-launch of ValueMyStuff and block chain, second block quote on the Valuations and Appraisal report
Source: Cisson PR NewswireLONDON, May 30, 2018 /PRNewswire/ --
Following the re-launch of global online valuations and appraisals service, ValueMyStuff, the company is now in talks with several blockchain platforms and asset management solutions to ensure genesis block accuracies.
ValueMyStuff, the world's number one online valuations and appraisals service, is today announcing the launch of its API for blockchain art and asset management firms. The solution offers art, antique and collectable asset valuations within 48-hours and can help firms to ensure that the genesis block in a chain carries more accurate value and worth.
In the recent months, blockchain technology and its impacts on the art world have attracted a lot of attention, globally. With auction houses, collectors and private wealth management firms increasingly engaging with the technology, ValueMyStuff can now further assist in ensuring that each chain gets off to the right start. With art dealers and collectors continually looking to ensure authentication and provenance of their items, blockchain technology's decentralisation securities offer the perfect application in the art world. However, blockchain is only as strong as its first block in the chain - known as the genesis block.
Earlier in the year, ValueMyStuff announced the re-launch of their technology, along with a new customer interface, smartphone application and partnerships with auction houses too. Now the company has launched an API aimed at assisting blockchain technology businesses with accurately valuing and appraising artworks, antiques and collectable assets at the start of their chain.
Patrick van der Vorst, the company's founder and CEO, said of the concerns surrounding blockchain in the art market:
"Blockchain will only be as good as the very point of entry (genesis) of the item in the blockchain, so proper expertise and cataloguing is needed at the very beginning. There is a concern that unqualified people may be entering the descriptions into the blockchain at the very start, thus creating badly tagged items, which of course would defeat the whole purpose of blockchain. So, the better the expertise upfront, the better the whole blockchain technology will become. For contemporary art establishing blockchain will be relatively simple, as the catalogue entries can be made at the point of creation and when the works enter the market. For antiques, collectables and memorabilia the effort will have to be more focussed and will take years to build up substantial blockchain volumes, but overtime if the market decides that blockchain tagged items carry more weight and thus become more commercially attractive, collectors will want to ensure their items are blockchain tagged and thus build up further volumes."
With a team of 62 valuations experts, 58 of whom are ex-Sotheby's and ex-Christie's valuers, the opportunities and potential scope of ValueMyStuff's support is vast. While machine learning and artificial intelligence are serious growth areas across all industries, this personal, human expertise is something that simply cannot be taken on by machines. The partnership between these experts and ValueMyStuff's API is, however, the perfect collaboration of technology and human intelligence. To explore more of ValueMyStuff's capabilities and services, visit https://www.valuemystuff.com
ValueMyStuff/ArtTactic Valuations and Appraisal Report
Source: ValueMyStuffWhilst ValueMyStuff has been actively providing valuations directly for our online clients, we have now launched our new product which in my view will be a game changer for our business and hopefully the industry. We can now provide our online valuation services, with 48 hour turnaround, for other businesses under their brand. This means that the technology we have built with human input from our experts can be used by auction houses, insurance companies and many other businesses. Having a client and providing a valuation for their watch, painting, classic car, then enables those businesses to sell on the back of the valuation, insurance services online, or borrow against those assets etc… I predict we will see many different applications and other business models emerge, with always the valuation of the object as a starting funnel for that customer journey.
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