Artprice and Escrow.com, two world leaders in their respective fields, announce their advanced partnership.
Artprice, the world leader in art market information has developed for its Standardized Marketplace® enabling auctions (defined as an “infrastructure” under Article 5 of Law 2011-850 of 20 July 2011) a process enabling the integration of the principal main leaders on the global online escrow market, Escrow.com and Transpact.com.
Artprice is pleased to have jointly developed with its U.S. partner and global leader, Escrow.com, a Euro version that will greatly facilitate the business of Artprice's European customers. The exceptionally high level of confidence enjoyed by the two companies has allowed them to build an online system that represents, according to thierry Ehrmann, Chairman and founder of Artprice, “the future of Internet transactions in the shape of a trusted third party offering escrow and release services…a challenge that no European bank, including the French banks, has been able to handle ... “
“With this new version, Artprice will offer, as of the beginning of May, a simple-to-use payment system in the European currency, with extremely competitive trusted third party escrow rates and a level of security substantially higher than that of the physical art market where payment incidents are not so rare. It will not be long before the numbers force the old economy to recognize that Internet transactions are much more secure than physical economy transactions.”
“As marketplaces like Artprice, global leader on its market, continue to expand throughout the world the need for a global safe and secure payment method expands with them.” Says Escrow.com's President and Managing Director, Brandon Abbey. He continues, “We have been working closely with Artprice in developing our Euro currency offering and believe this is a win-win-win-win scenario. The buyer's funds are protected until receipt of the art work, the seller's payment is secured, Artprice has the safest possible environment for their customers and Escrow.com continues our global expansion.”
Headquartered in Rancho Santa Margarita, CA (USA), Escrow.com has pioneered the process of online escrow services. The Company, founded in 1999 by Fidelity National Financial, has established itself as the leading provider of secure business and consumer transaction management on the Internet.
To date, Escrow.com has processed over $1.5 billion dollars in secure transactions with nearly 50% of those involving an international Buyer or Seller.
ARTPRICE has joined the prestigious SBF 120 index. The SBF 120 index is composed of the 120 largest French listed companies, including the CAC 40 companies and the country's 80 most liquid stocks.The current liquidity of the Artprice share is 3.83 million euros per day calculated over 440 trading days (amounting to a total of €1.670 billion).
Artprice is the global leader in databank on Artprices and indices with more than 27 million indices and auction results covering more than 500,000 artists. Artprice Images® offers unlimited access to the largest Art Market resource in the world, a library of 108 million images or engravings of artworks from 1700 to the present day along with comments by Artprice's art historians. Artprice permanently enriches its databanks with information from 4,500 international auction houses and auctioneers and publishes a constant flow of art market trends for the main news agencies and 6,300 international written media. For its 2.072 million members (member log in),
Artprice posts standardized adverts in what is today the world's leading Standardised Marketplace® for buying and selling works of art by private contract or at auctions -regulated by French law alinéas 2 et 3 de l'article L 321.3 du code du commerce.
Artprice is listed on Eurolist B SBF 120 by Euronext Paris (SRD long only): Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF
Discover the Alchemy and the universe of Artprice http://web.artprice.com/video, which headquarters are the famous Museum of Contemporary Art, the Abode of Chaos
Contact: Josette Mey, tel: +33(0)478-220-000, e-mail: firstname.lastname@example.org