Artprice Launches Online Auctions and Eyes China Art Market
By Ina Steiner
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).
More information on Artprice auctions is found on Artprice.com.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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