Artnet : Auctions Launches Buy Now Business; Hires Emma Fastenberg to Lead the Charge

Corporate News	August 30, 2021

Artnet Auctions Launches Buy Now Business; Hires Emma Fastenberg to

Lead the Charge

• Artnet Auc tions ex pands into the Buy Now s pac e
• Gallery veteran to lead the bus iness
• New c hannel to offer fixed pric e works

Berlin/New York, August 30, 2021 - Ar tnet AG, the leading pr ov ider of ar t mark et data and online - only fine art auctions, announced that Emma F astenber g has j oined Artnet Auc tions as the Head of Buy Now . In addition to the c ompany 's ex isting online auc tions bus iness , the Buy Now div is ion is a new s ales channel that will be foc us ed on offer ing fix ed pr ice works ac ross collecting c ategor ies . Ms . F astenber g will als o lead the char ge on developing releases and timed s ale oppor tunities for his tor ical and newly r eleas ed pr ints and editions .

Ms . F astenber g j oins the Artnet Auc tions team fr om Pac e Prints where s he mos t recently s erved as Dir ector . In her time at Pace Pr ints, Ms . F astenber g dev eloped close relationships with c lients and artists as well as a br oad ex perienc e in the contemporary pr intmaking and publis hing indus try . Ms . F astenber g holds a Bac helor of Arts in Art His tory fr om T ulane Univ ers ity .

"There is no one better equipped to env ision and exec ute on this new channel for the bus iness than Emma" , said Colleen Cas h, Vice Pr es ident, Auctions . " Emma's years of exper ienc e in br inging to market histor ic al and new works in innov ativ e and commerc ially savvy ways ar e a unique adv antage for us in this inc reas ingly

compet itiv e spac e . She has s trong market instinc ts and a wide global network; that coupled with the power of the Artnet s uite of pr oduc ts is a r ecipe for s ucc ess . "

"I am thr illed to j oin Ar tnet to dev elop and sc ale the Buy Now Feature . Purc has ing ar t digitally has become more des ir able than ever and a Buy Now featur e built on Ar tnet's foundation of tr anspar ency & r eliability will prov ide an edge in the growing ar t e - commerc e s pace . " s aid Emma F astenber g, Head of Buy Now, Auc tions . "I look forwar d to work ing w ith Artnet on new and profitable initiatives . The Buy Now exper ienc e will complement Artnet's growing bus iness while shaping the future of how people buy

art . "

This new channel ex pands tr ans ac tional opportunity for buyers and sellers alike by building out a bus ines s focus ed on c ur ated offer ings av ailable at a s et pric e . T he channel will be instr umental in ens ur ing Artnet Auctions has a v ar ied cons ignment pipeline acr oss pr iv ate client and institutional bases , and ample oppor tunities for buy ers with var ied c ollecting interes ts to transact acr oss pr ic e points and outs ide of Auction par ameters .

Artnet Auc tions is a pioneer of the digital art mark et, and was the first to launc h online sales dedicated to fine ar t . T oday , it hos ts more than 70 c urated sales a y e ar

featur ing a r ange of s ought - after contemporary ar t , pr ints, and photogr aphs , offer ing collec tors str ategic oppor tunities to buy and sell y ear r ound . Artnet Auc tions fee - bas ed r ev enue incr eas ed s ignific antly by 23% to 3 . 0 million USD in the first s ix months of 2021, as c ompar ed to 2020, and is aiming for another r ecor d year .

Emma joined the team in Augus t 2021 and is av ailable to disc uss s ale opportunities for the fall s eas on .

Corporate News	August 30, 2021

About Artnet

With 24/7 wor ldwide bidding, Artnet Auctions is the leading onl ine - only mark etplace for buy ing and s elling fine art . New bidders , buy ers , and cons ignor s acr oss categor ies, geographies, and demographics entr ust ar tnet Auctions with their needs . More ar tworks are offered and tr aded digitally than ev er befor e and Ar tnet Auctions' efficiency, digitally nativ e oper ation, quick turnaround, and continuous s ales

thr oughout the year ar e unmatc hed in the indus try . T he auc tion platfor m allows for immediate tr ans actions, with a s eamless flow between s ellers , s pec ialists , and collec tors . Complementing the online auctions, artnet is the leading res ource for researc hing ar t online . Founded in 1989, Ar tnet's suite of indus try - leading pr oduc ts has r evolutioniz ed the way people disc ov er and collect ar t today . The Pr ic e Databas e contains mor e than 14 million auction r es ults fr om 1,900 auc tion houses dating back to 1985, pr ov iding an unpar alleled lev el of tr ans par ency to the ar t market . T he G allery Network platfor m connects leading galler ies with c ollec tors fr om ar ound the wor ld, offer ing the most c omprehensiv e ov erv iew of artworks for sale . Artnet News cov ers the ev ents, tr ends , and people s haping the global art mark et with up - to - the - minute analys is and ex pert c ommentary .

Artnet AG is lis ted in the Pr ime Standar d of the Fr ankfurt Stock Ex ch ange, the segment with the highest tr anspar ency standar ds .

ISIN: DE000A1K0375

LEI: 391200SHG PEDT RIC0X31

Contac t:

Sophie Neuendorf

sneuendorf@ar tnet . c om