ArtRank™ Posts
News and announcements from the art market’s pioneering analysts. Here’s what’s on our mind.
eFinanse: Towards data-oriented analysis of the art market: survey and outlook.
"Due to an increasing usage of social media platforms among art collectors (ArtTacti c, 2015), it also seems reasonable to include these sources of data in the art market research. Some of the presented methods consider evaluation conducted by experts with domain knowledge (art historians in this case). Machine learning techniques could be an inspiration for future research, especially taking into account ArtRank philosophy, en route to better understand processes which are shaping the market. Another possible example is creating comparable sets in artnet price indices automatically."
Read the whole journal article by
Dominik Filipiak & Agata Filipowska in eFinanse
Los Angeles Magazine: This App May Tell You How Much a Piece of Art Is Worth
"For Rivera this is more than idle chatter. As cofounder of the Web site ArtRank, he needs to keep his ear to the ground for up-and-coming artists. The site, launched in 2014, offers investment advice to subscribers—the current cap is ten—who pay $3,500 per quarter for early access to a ranking of emerging and blue-chip artists. Like a brokerage analyst’s report, it uses terms such as “buy,” “sell,” and the even more alarming “liquidate” to guide clients. ArtRank’s algorithm arrives at its valuations through a combination of publicly available data such as past sale prices, forthcoming exhibitions, and social media posts from art world influencers as well as insider advice from collectors and dealers."
Read the whole story by Marissa Gluck in Los Angeles Magazine
GQ: 7 art apps that terrify artists
"ArtRank wants to calculate all art transactions and auction biddings, and tell flippers when to dispose of it. They go against the quasi annoying lie of telling you to buy art you "love" as opposed to art with some market value."
Read the whole story by Nimrod Kamer in GQ
El Pais: The art market tests the use of mathematical formulas and 'big data'
"Tal vez el paradigma sea el de Carlos Rivera, un emprendedor de origen argentino afincado en Los Ángeles quien hace un par de años creó ArtRank. El portal trata a los artistas, sobre todo emergentes, como si fueran acciones de Bolsa y los califica en categorías: Comprar, Vender y Liquidar. En el corazón de la web late un algoritmo (similar al usado por Nielsen o Netflix) que se nutre de información de subastas, galerías, asesores y escuelas de arte para identificar al siguiente Koons o Damien Hirst. Pero no compra ni vende obra. “Porque al mercado le falta liquidez para hacer compraventas instantáneas, como si fueran algoritmos de alta frecuencia [los utilizados en la Bolsa]”, afirma Rivera."
Read the whole story by Miguel Ángel Garcia Vega in El Pais
Invaluable: How Data Will Disrupt The Business of Art
How will data continue to transform the business of art in years to come? To answer that question, let’s look at some of the early startups that are leveraging art data on behalf of the buyer in innovative ways... [ArtRank was] demonized by some for the categorization of artists in categories such as Sell/Peaking (“Liquidate” was a category that attracted widespread ire and has since been removed)- it has earned a place among the most disruptive firms to apply art data in new ways.
Read the whole story by Pip Deely on Invaluable