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    ART   DE000A1K0375


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PRESS RELEASE : artnet AG: Post-War & Contemporary Art Sale Achieves Record for Highest Grossing Sale in Artnet Auctions History

05/25/2021 | 02:46am EDT
DGAP-News: artnet AG / Key word(s): Development of Sales/Monthly Figures 
artnet AG: Post-War & Contemporary Art Sale Achieves Record for Highest Grossing Sale in Artnet Auctions History 
2021-05-25 / 08:45 
The issuer is solely responsible for the content of this announcement. 
Post-War & Contemporary Art Sale Achieves Record for Highest Grossing Sale in Artnet Auctions History 
- Competitive bidding from four three continents fueled the sale's success 
- 93% of lots sold exceeded their pre-sale low estimate 
- 32% of lots sold exceeded their pre-sale high estimate 
- Damien Hirst artwork sells for 600,000 USD 
Berlin/New York, May 25, 2021-Berlin-based Artnet AG, the leading provider of art market data and online-only fine art 
auctions announced that Artnet Auctions' spring Post-War & Contemporary Art sale set a new record for the highest 
revenue generating sale in Artnet Auctions' history. The sale exceeded 2 million USD in total sales with an average 
sold lot value of over USD70,000 - a 50% increase from the same sale held in 2020, and nearly 40% higher than the global 
standard for online sales. 
"There is no question that the market is hungrier than ever for tightly curated sales and quality unique work", said 
Colleen Cash, VP, Auctions at Artnet. "Our team has spent the last year realizing the possibilities of a strategy 
geared toward facilitating more sales at the USD75,000+ level, and these results confirm our efforts have been in the 
right place." 
The top lot of the marquee auction was a 2008 butterfly painting, Spring Intensity, by Damien Hirst which sold for 
USD600K - the second highest value work ever sold on the online platform. 93% of lots sold in the sale exceeded their 
pre-sale low estimate, and 32% of lots sold exceeded their pre-sale high estimate, confirming Artnet Auctions' capacity 
to generate strong bidding interest across mediums and price points. 
Other notable results included Henry Moore's 1965 maquette sculpture Two Three Quarter Figures on Base, which realized 
USD78K after 22 bids - almost USD50K over its high estimate, and Larry Poons's painting The Ultimate Canto, which realized 
USD84K after 14 bids - almost USD25K over its high estimate. 
While the May sale cycle historically rounds out the brick-and-mortar spring season, there's no slowdown in sight for 
the Artnet Auctions team. The second iteration of the team's newly launched Art of the Americas initiative- presented 
in partnership with Raphael Castoriano, a multi-lingual artist, art advisor, and the founder and creative director of 
Kreëmart, and Solita Cohen, a Caracas native, as well as a collector and patron of Latin American art- goes live for 
bidding on June 11, 2021, and Queer Legacy, a sale dedicated to highlighting work by artists of the Queer community 
goes live on June 17, 2021. Queer Legacy will be presented in partnership with Eric Shiner, Executive Director, Pioneer 
Works and formerly of Sotheby's and the Andy Warhol Museum. 
About Artnet 
Artnet is the leading resource for buying, selling, and researching art online. 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 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 
Sophie Neuendorf 
2021-05-25 Dissemination of a Corporate News, 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 
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:  1199999 
End of News   DGAP News Service 

1199999 2021-05-25

Image link: 

(END) Dow Jones Newswires

May 25, 2021 02:46 ET (06:46 GMT)

Stocks mentioned in the article
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ARTNET AG 4.76% 11 Delayed Quote.52.78%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
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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
Yield 2020 -
Capitalization 61,9 M 72,5 M 72,6 M
EV / Sales 2019 1,20x
EV / Sales 2020 2,15x
Nbr of Employees 120
Free-Float 22,1%
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