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The Economist
Power at Last
April 2nd, 2005 (excerpt)
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"Toward a new level of Price Transparency"
On the heels of a successful pilot project last fall season, Sotheby's and artnet have signed an agreement presaging a new level of price transparency for the art market.
Art buyers browsing select Sotheby's online catalogues will now be able to see "Sales histories" from artnet's illustrated Price Database.
Most lots in Sotheby's electronic catalogues for New York fine arts auctions will feature an artnet button linking directly to a compilation of selected sales results from past auctions for similar works by the same artist.
This free service is one more tool to help potential buyers make informed choices. "Helping our clients find this kind of information is vital, and we are very pleased to work with artnet to deliver this service." said William Ruprecht, Sotheby's CEO. Both companies stress that the service is only one tool. "An enormous number of factors contribute to value, and past auction results are an important part of the picture," Mr. Ruprecht continues. "Of course, our link to the artnet database is not intended to replace the expertise of an auction house specialist. Always call to speak about a work or its estimate before deciding whether or not to bid."
The relevant sales results have been selected by artnet for artist, medium, dimensions and subject matter. First-time users will be asked to register, then given a password to use the free service afterward.
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PRICE DATABASE
10 Top Prices in April Auction
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Makovsky
$ 2,088,000 |
Grigoriev
$ 1,584,000
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Bouguereau
$ 1,584,000
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Moreau
$ 1,080,000
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Boldini
$ 1,001,600 |
Boldini
$ 968,000 |
Bouguereau
$ 867,200 |
Carrier-Belleuse
$ 724,760 |
Dehodencq
$ 710,400
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Peploe
$ 688,721 |
GALLERY NETWORK
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The
300 Most Popular Artists in April
1.
Andy Warhol
2.
Damien Hirst
3.
Pablo Picasso
4.
David Hockney
5.
Jim Dine
...
more
How
does your artist rank? Please contact me
at umuenker@artnet.com.
Fotobild, Berlin June 9 - 12
Liste, Basel June 14 - 19
Art Basel 36,
Basel June 15 - 20
The Grosvenor House Art & Antiques Fair, London June 16 - 22
For questions, comments or ideas for our
newsletter, please contact us at newsletter@artnet.com
or via postal mail.
artnet
61 Broadway, 23rd Floor
New York, NY 10006
+1-212-497 9700
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