Bloomberg Businessweek: Buy, Sell, Hang on Your Wall
"ArtRank gives art the stock market treatment."
Read the whole story by Anna Altman at Bloomberg Businessweek
New York Times: Art for Money's Sake
"Largely hidden from public view, an ecosystem of service providers has blossomed as Wall Street-style investors and other new buyers have entered the market. These service companies, profiting on the heavy volume of deals while helping more deals take place, include not only art handlers and advisers but also tech start-ups like ArtRank. A sort of Jim Cramer for the fine arts, ArtRank uses an algorithm to place emerging artists into buckets including “buy now,” “sell now” and “liquidate.”"
Read the whole story by Will Alden in The New York Times
Financial Times: Winners and losers from the art market's new rules
"Even biennales, supposedly non-commercial, are now part of the international market system. The internet, as it always does, changes everything by widening access almost infinitely. The benefits of this need no explanation; less happy is the development of sites such as ArtRank, in which artists are brutally listed under headings that include “buy now”, “sell now” and “liquidate” if their stock is considered to have peaked. Not much room for aesthetic values there."
Read the whole story by Jan Dalley at The Financial Times
The Guardian: ArtRank is shaking up the art market
"For $3,500 a quarter, ArtRank's clients get snappy – some might say brutal – investment advice based on information such as past sales, studio output, upcoming shows and posts on Instagram and Twitter. The service, which he says uses complex algorithms developed for investment banking, is limited to 10 subscribers at a time; when Rivera threw the list open in April, there were, he says, more than 80 applications."
Read the whole story by Edward Helmore at The Guardian
New York Times: Barbarians at the Art Auction Gates? Not to Worry
"At the request of The Times, Tutela Capital and Beautiful Asset Advisors, a New York company best known for its Mei Moses family of indexes, reviewed art market data from 1995 through 2013 to see if there had been a noticeable shortening in the time owners held onto art. The discussion of the issue has largely focused on the postwar and contemporary markets, where there is the perception that a commodities trading approach has become prevalent. This view has been fueled by a drumbeat of headlines about flipping; the emergence of companies like ArtRank, which give “buy” and “sell” ratings for works; and the high profile of collectors who buy pieces by new artists in bulk and sell them for a handsome profit."
Read the whole story by Lorne Manly and Robin Pogrebin in The New York Times
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