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    ART   DE000A1K0375

ARTNET AG

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Artnet AG: Artnet and Artfacts Partner in Unparalleled Art Market Data and Analytics Alliance

07/09/2021 | 03:01am EDT


DGAP-Media / 09.07.2021 / 09:00

Artfacts/Artnet joint Press Release
July 2021

Artnet and Artfacts Partner in Unparalleled Art Market Data and Analytics Alliance

- Leading providers of art market data embark on data-sharing partnership

- AI-driven analytics predicting trends and trajectory of emerging and established artists further strengthened through the combination of two uniquely powerful data sets

- Arrangement will create greatest transparency the art market has ever seen

Berlin/New York, July 9, 2021 - Artnet AG, the leading provider of art market data, news, and online-only fine art auctions, is excited to announce a data partnership with Artfacts, the pioneering resource for exhibition data. Artnet's Price Database offers more than 14 million color-illustrated art auction records from more than 1,900 auction houses, covering over 340,000 artists and ranging across media, from Michelangelo drawings to Warhol paintings, Le Corbusier chairs to Banksy prints. Artfacts has a curatorial database of 1 million exhibitions dating from 1863 to 2022, and covering more than 700,000 artists worldwide. The data partnership will offer users a richer experience-broadening and strengthening the offerings of both companies to their respective clients, and allowing for the development of unprecedented new possibilities from a data and analytics perspective.

"We are thrilled to be embarking on this data partnership." says Artnet CEO Jacob Pabst. "Utilizing Artfact's thorough primary market data, Artnet will now be able to provide collectors with a fully holistic view of the art world, further driving transparency in the market through the use of intelligent AI-driven analytics and indicators, and cementing Artnet as the leading online information resource and marketplace in the industry".

Artfacts's new mobile app "Limna" is the only product that can validate art prices for artists without auction results, and provide confidence to users as to why this is the case; especially important for artists in the sub-$100,000 price bracket where most art market transactions take place. "This partnership will further strengthen Limna's price estimates across all artist levels, particularly those in higher-price brackets dominated by auction results," says Jonas Almgren, CEO of Artfacts and Limna. "We're excited to be able to offer accurate price estimates for all collectors, regardless of price point or focus on primary or secondary market, making the Limna app more accurate for more art buyers and all budgets."

About Artfacts:
Artfacts creates transparency in the art world, helping artists to understand their career position and galleries to make more informed decisions on their artist representation since 2001. With the largest curatorial art database in existence, comprising more than 700,000 artists tracked from more than 45,000 institutions worldwide, Artfacts has amassed more than 1,000,000 exhibitions from 1863-2022 and continues to grow weekly. The philosophy of Artfacts is "art history is exhibition history", acting as the trusted record keeper for the global art world. A sibling brand to Limna, the world's first AI-powered art advisor, making it easier for anyone to confidently buy art, both brands are based in London and Berlin and share co-founders, Marek Claassen and Stine Albertsen, and CEO, Jonas Almgren. Learn more at www.artfacts.net and www.limna.ai.

About Artnet:
Artnet is the leading resource for buying, selling, and researching art online, with over 45 million unique users per annum. Founded in 1989, Artnet's suite of industry-leading products has revolutionized the way people discover and collect art today. The Price Database contains more than 14 million auction results from 1,900 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with millions of 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

Contact:
Sophie Neuendorf
sneuendorf@artnet.com



End of Media Release


Issuer: artnet AG
Key word(s): Art

09.07.2021 Dissemination of a Press Release, 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.
Archive at www.dgap.de


Language: English
Company: artnet AG
Oranienstraße 164
10969 Berlin
Germany
Phone: +49 (0)30 20 91 78 -0
Fax: +49 (0)30 20 91 78 -29
E-mail: info@artnet.de
Internet: www.artnet.de
ISIN: DE000A1K0375
WKN: A1K037
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange
EQS News ID: 1217017

 
End of News DGAP Media

1217017  09.07.2021 

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Sales 2020 18,9 M 22,2 M 22,2 M
Net income 2020 1,92 M 2,26 M 2,26 M
Net Debt 2020 0,72 M 0,84 M 0,84 M
P/E ratio 2020 20,8x
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Jacob Pabst Chief Executive Officer
Pascal Decker Chairman-Supervisory Board
Hans Neuendorf Member-Supervisory Board
Michaela Diener Deputy Chairman-Supervisory Board
Sophie Neuendorf Investor Relations Contact
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