artnet AG

  • WKN: A1K037
  • ISIN: DE000A1K0375
  • Land: Deutschland

Nachricht vom 21.04.2020 | 08:30

artnet AG: Artnet Auctions Sees Strong Sales in the Midst of the Coronavirus Crisis

DGAP-News: artnet AG / Key word(s): Development of Sales/Incoming Orders
21.04.2020 / 08:30
The issuer is solely responsible for the content of this announcement.

Artnet Auctions Sees Strong Sales in the Midst of the Coronavirus Crisis

- Despite disruption to the global economy, Artnet Auctions sees strong results across categories

- Collectors flock to the online platform

- More than $2 million in sales in April

Berlin/New York, April 21, 2020-Artnet is pleased to share the recent results of its Artnet Auctions sales. The digital platform is uniquely well-suited for the market's near overnight pivot from brick-and-mortar to online trade. In the first half of April alone, Artnet Auctions sold over $2 million across categories in its Contemporary Art, Photographs, and Prints & Multiples departments.

Leading the charge was the recent Premier Prints & Multiples sale, which saw competitive bidding across historical and contemporary editions by a range of top-tier artists including Donald Judd, Maurizio Cattelan, Yayoi Kusama, and Mark Bradford. The top-selling lot of the sale was Keith Haring's Retrospect, which attracted lively bidding to achieve $180,000. Iconic and highly sought editions by Banksy and Judd also eclipsed the $100,000 threshold.

For 10 years, Artnet Auctions has been the premier platform for the online sale of fine art, and recent successes cemented the platform's well-respected position in the industry. "Despite disruption to the global economy, the Artnet Auctions team has successfully leveraged a decade of vendor relationships and a solid operational process to ensure the fulfillment of transactions for clients across the globe," said Jacob Pabst, CEO of Artnet. "While other institutions have come to a standstill in their ability to operate, Artnet continues to facilitate seamless sales with buyers and sellers around the world."

Looking ahead, the team has strategically reviewed their sale calendar to ensure that there will continue to be ample transacting opportunities for clients across categories. Artnet Auctions has worked closely with those affected by the mass-cancellation of art fairs to ensure galleries and those in the trade have uninterrupted channels to transact in as well.

To explore Artnet Auctions' current and upcoming sales, visit our sale calendar here.

For press inquiries, please contact press@artnet.com.

About Artnet

Artnet is the leading resource for buying, selling, and researching art online. Founded in 1989, Artnet's suite of industry-leading products has revolutionized the way people collect art today. The Price Database contains more than 13 million auction results from 1,800 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with collectors from around the world, offering the most comprehensive overview of artworks for sale. Artnet Auctions was the first dedicated online marketplace for fine art, providing a seamless and efficient collecting experience for both buyers and sellers. Artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary.

Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards.

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31



21.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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