PARIS, Sept. 9, 2019 /PRNewswire/ -- Artprice.com is switching to artmarket.com with statutory amendment and an extension of its corporate purpose: this EGM of 30.09.2019 seems like an IPO. Indeed Artmarket.com will help to ignite the Art Market in its entirety.
On 8 August 2019 Artprice's Board of Directors approved the schedule leading to the EGM on 30 September 2019 at 5pm for the final approval of its overall Art Market strategy.
Regarding our stock market listing on Euronext going forward, after approval, Artprice.com shareholders will automatically become shareholders of Artmarket.com without any impact on the number of shares held and their attached rights. Likewise the PRC mnemonic code will be kept the same to avoid inconvenience for our shareholders, the market and the banks.
Moreover the "Artprice" brand – known worldwide for more than 20 years – remains the reference logo for Artmarket.com concerning our highly profitable service delivering art prices and art indices from our databanks.
Considering scientific and technological advances, it is perfectly logical that we should extend the official activities of the company to include the analysis and processing of Art Market metadata, either for proprietary use or for third party use.
thierry Ehrmann: "Artprice recently celebrated its 20th anniversary. It took twenty years to establish Artprice as the Global Leader in Art Market Information, its declared ambition in its 1999 IPO prospectus."
Today, Artprice is unanimously recognized by press agencies, the media (printed and audio-visual), the financial sector, art market professionals, museums and States around the world as the primary global reference in Art Market Information.
But its development is about to move into another realm: Artprice will become Artmarket.com in order to optimize its position as a global player at the start of a decade that will see the digital revolution carry the entire planet into a complete and radical paradigm shift.
This historic name change reflects an expansion of our role to all matters related to the Art Market rather than just to questions related to "art prices", a subset of the Art Market.
This is the same approach successfully implemented by Google which has become Alphabet to avoid being associated uniquely with search engines.
As such, the Artprice brand – known worldwide for over 20 years – will remain the reference brandname for Artmarket.com in its highly profitable art prices /indices databanks activity.
thierry Ehrmann: " the name Artmarket.com will drive our know-how, our content and our brands like no other entity operating on the Art Market will be able to do, thanks notably to the natural indexing by global search engines of any content relating to the term "Art Market"...because English is the language most used by the art market all over the world."
"For Artprice – now Artmarket – this represents a very significant financial and economic step forward."
"Artprice acquired the domain names artmarket.com.net and .org a long time ago and therefore holds a perfectly legal key to millions of searches per month via the generic term "Art Market" on Google.com, or any other search engine.
"For searches using the term "Art Market" on Google.com, Artmarket.com is the top result out of 3.6 billion results (Judicial Officer's Report, SCP Pons-Mergui). By comparison, a search on Google.com using "Artprice" produces 2.5 million results, with, of course, artprice.com in first place.
Artmarket.com .net .org are therefore the primary Internet keys to the global Art Market.
Our domain name artmarket.com represents a unique intangible asset and could be worth around 120 million dollars according to the press release below.
Moreover, for all matters related to the commercial aspects of art, the term "Art Market" is the term universally used since the post-war period by all the artistic, economic and financial publications including The Wall Street Journal, The Financial Times, The New York Times, Bloomberg, Reuters, The Art Newspaper, The Guardian, the BBC, CNN, Euronews, AFP, Yahoo! Finance, Cision (PR Newswire), etc...
"Artmarket.com" opens the doors of a future that can only be 100% digital now that the Art Market has already massively migrated into the mobile Internet sector (4.5 billion smartphones in circulation and 5G already operational in certain countries). Artmarket.com is a perfect reflection of this digital electroshock, both scientifically and economically, and it has acquired its lead in this market thanks to years of R&D.
The generic and universal name Artmarket.com will act as a powerful vector for a change in economic scope, for capital transactions and possibly an IPO on another stock exchange (without any capital increase).
thierry Ehrmann: "More than anything else, this highly significant change of our business name reflects a new beginning in our unique history. It marks our desire to become a truly global player in the Art Market, with a multitude of projects underway. It would have been very presumptuous of us to have declared such ambitions when we began our journey in 1997.
I wish to thank all our staff for their hard work and perseverance and our shareholders for their trust over the years... and I believe we can now all look forward to participating in the culmination of our project as a global player in the Art Market, reflected in our new name, Artmarket.com."
Of course, this name change will have no impact on our customers whose access to our services and our data remains completely unchanged.
Against the backdrop of Sotheby's spectacular delisting, Artprice's change of name and the extension of its statutes is a perfectly logical move since Artmarket.com now has confirmation of a minimum three years of orders after acquiring the famous Swiss tech firm Xylogic which owned the portfolio of major auction operators.
For Artprice becoming Artmarket.com, the EGM-approved acquisition of Sotheby's and its delisting represents confirmation of its role as a global player in the Art Market. Artmarket.com will now support – via its on-line tech solutions – the dematerialization of the 6300 Auction Houses around the world... companies who are already Artprice partners and are already connected to our Artmarket.com Intranet.
thierry Ehrmann: "Patrick Drahi's acquisition of Sotheby's with a 61% premium confirms the Art Market's accession to the 21st century digital era. Artprice has always argued that the Art Market – which weighs about $90 billion p.a. (public and private) – is several decades behind other sectors with respect to digital and Internet culture...
...Drahi's move represents a significant financial and economic shockwave because after Sotheby's withdrawal from public scrutiny, Artmarket will be the only Art Market company listed on a regulated stock market in the entire world".
Artprice is the global leader in art price and art index databanks. It has over 30 million indices and auction results covering more than 700,000 artists. Artprice Images® gives unlimited access to the largest Art Market resource in the world: a library of 126 million images or prints of artworks from the year 1700 to the present day, along with comments by Artprice's art historians.
Artprice permanently enriches its databanks with information from 6,300 auctioneers and it publishes a constant flow of art market trends for the world's principal news agencies and approximately 7,200 international press publications.
For its 4,500,000 members, Artprice gives access to the world's leading Standardised Marketplace for buying and selling art. Artprice is preparing its blockchain for the Art Market. It is BPI-labelled (scientific national French label) Artprice's Global Art Market Annual Report for 2018 published last March 2019: https://www.artprice.com/artprice-reports/the-art-market-in-2018
Artprice is associated with Artron Group the Chinese leader in the Art Market, its solid institutional partner.