After 2 years of optimizing its online databases, Artmarket.com posts substantial Q3 2023 turnover growth: up 75%
PARIS, Nov. 7, 2023 /PRNewswire/ -- Artprice by Artmarket reaps the fruit of two years of development which enabled the complete overhaul of its online databases, leading to a 75% increase in its turnover for the third quarter of 2023
thierry Ehrmann, Founder of Artprice and CEO of Artmarket: "In January 2023, Artprice by Artmarket deployed its new online version, the most successful in its history, in response to customer pressure from all over the world. As a result, our turnover for the 3rd quarter of 2023 has posted a 75% increase versus the year-earlier period. In the current "all-digital" era, this increase is the perfect reward for the tremendous work conducted by our teams".
The launch of our new online version was a major project involving all of Artprice's databases and services, and which took two years to plan and develop (prolonged by the Covid-19 crisis).
After a call for tenders, Artprice by Artmarket selected the company Vahumana of the TRSb Group and its team of highly talented top-level external consultants for the audit and development of the complete overhaul of Artprice.com. The entire project was conducted with a 'user-centric' approach that prioritizes the intuitivity of the user experience (UX) and optimizes the fluidity and ergonomics of the user interface (UI).
From early September 2023, the final online version of Artprice.com by Artmarket, World Leader in Art Market Information for 25 years, has become the Art Market benchmark in terms of customer experience and ergonomics.
After this brilliantly successful launch, our initial data shows excellent uptake of the new Artprice.com by Artmarket among existing and new customers as well as a massive 441% increase in online traffic (activity logs) on a 50MM traffic moving average. In the long term, we can therefore expect significant turnover growth (due to higher traffic) and this has already been confirmed by our Q3 2023 figures which show a 75% turnover increase vs. Q3 2022.
Our new intuitive and user-friendly online presence, with its simplified access, has unified all the high value-added databanks built by Artprice.com, its subsidiaries and its various departments, thus allowing easy access to the most relevant and exhaustive information on the art market. This has led to a very significant increase in the number (and duration) of professional & high-end annual subscriptions, clearly confirming customers' strong confidence in Artprice.
We've made a deliberate effort to elevate our users' mobile experience by implementing responsive web design (RWD) for the entire Artprice database. This approach ensures a seamless experience without resorting to a limiting 'App' solution. Unlike mobile apps that often require frequent updates and fixes, our RWD solution delivers the full richness of the desktop/laptop experience.
The feedback from customers and members is unanimous: "The new Artprice site is so much more pleasant to use and allows you to navigate through rich and varied content."
Now our customers and users are discovering information they never knew existed. Some even think that Artprice must have acquired some new companies to have changed so much… For its financial partners and shareholders, this version is a real "game changer".
The new centrally-positioned and intuitive search bar offers instant access to an exhaustive tree structure around the subject of the search, which ultimately generates an increase in the time spent on Artprice.com.
Our search engine links instantly to Artprice databases with art market information from the 4th century to the present day and data concerning 825,800 artists, 16,448,000 sales prices and indices, and 1,087,500 auction lots hammered over the last 12 months from 7,200 auction houses around the world.
Artprice by Artmarket provides the most elaborate and exhaustive Art Market information and the most useful research tool for accessing that information in the world, confirming its position as the World leader in Art Market Information for 25 years.
The universal search bar immediately draws up a wealth of information around the element sought: whether it is an artist, biography, artist email alerts, artworks in future and/or past auctions, art market indices, Artpricing® estimations, works available on our standardized Artprice.com Marketplace, art market news and articles in our archive of ArtMarketInsight® articles, or Artprice reports on the Art Market. It will also immediately connect your search to our databases to extract signatures and monograms, catalog raisonnés, archived historical data, etc. that Artprice has digitalized from the key historical art market archives acquired around the world over the past 25 years (cf. Artmarket.com's universal registration document (URD) filed with France's Financial Market Authority(AMF)).
Artprice.com by Artmarket uses algorithmic artificial intelligence in its proprietary AI Intuitive Artmarket® allowing customers access to relevant and personalized recommendations regarding, artists, artworks and auction sales, thereby automatically enhancing their knowledge and understanding of the art market.
Artprice Images® allows unlimited access to the largest collection of digital art and art market-related images in the world based on Artmarket.com's collection of manuscripts and sales catalogs which now form a vast physical and digital library containing 180 million photos and engravings of artworks from 1700 to the present day, all commented by our historians.
In this very specific economic sector, Artmarket.com owns by far the largest volume of high-quality objective and proprietary (value-added) art market data. The original documentary archives, codex manuscripts, annotated books and auction catalogs acquired over the years are a key asset as they represent an almost impregnable barrier to entry.
In addition, Artprice's new online architecture integrates new communication spaces for advertisers, supported by a new Back Office for the completely autonomous management of their advertisements. With the new advertising revenue, Artprice by Artmarket expects to double its turnover in 2023/2024 versus the previous financial year.
Despite the current geopolitical and economic context, the art market is showing dynamic health with regular auction records hammered across all artistic periods in all countries during recent sales. There have been no cancellations of classic and/or prestige cataloged sales for the end of 2023 and 2024, these sales being the main indicators of the market's condition.
The major auction houses and investors know full well that the art market is a safe haven and a good investment, as illustrated by the Artprice100© index. The current period of uncertainty is also prompting new investments in the art market.
The war on European soil, the conflict in the Middle East, the dizzying rise in interest rates and the fears of recession have not got the better of the art market at the end of 2023.
Don't hesitate to contact our Econometrics Department for your requirements regarding statistics and personalized studies: econometrics@artprice.com
Try our services (free demo): https://www.artprice.com/demo
Subscribe to our services: https://www.artprice.com/subscription
The information and econometric studies produced by Artmarket.com are presented uniquely for the purpose of analyzing and understanding the statistical realities of the art market. They should in no way be considered as advice or a suggestion or a solicitation to invest in the art market or in Artmarket.com, listed on Euronext Paris.
Copyright 1987-2023 thierry Ehrmann www.artprice.com - www.artmarket.com
Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.
Discover Artmarket and its Artprice department on video: www.artprice.com/video
Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.
See certified biography in Who's who ©:
https://imgpublic.artprice.com/img/wp/sites/11/2023/04/2023_2_Biographie-thierry-Ehrmann_WhosWhoInFrance.pdf
Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 825,000 artists.
Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world's leading Fine Art NFT platform.
Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a permanent basis from 7200 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 7.2 million ('members log in'+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code).
Artmarket, with its Artprice department, has twice been awarded the State label "Innovative Company" by the Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market.
Artprice by Artmarket publishes its 2023 Contemporary Art Market Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2023
Artprice by Artmarket's Global Art Market Report, "The Art Market in 2022", published in March 2023:
https://www.artprice.com/artprice-reports/the-art-market-in-2022
Index of press releases posted by Artmarket with its Artprice department:
https://serveur.serveur.com/artmarket/press-release/en/
Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:
www.facebook.com/artpricedotcom/ (over 6.4 million followers)
Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
La Demeure du Chaos / Abode of Chaos
GESAMTKUNSTWERK & SINGULAR ACRHITECTURE
Confidential bilingual work now public:
https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf
· L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o
· www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (over 4 million followers)
Contact Artmarket.com and its Artprice department - Contact: Thierry Ehrmann, ir@artmarket.com
Logo - https://mma.prnewswire.com/media/1009603/Art_Market_logo.jpg
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