Artprice launches three global algorithmic indices measuring force Art Market vectors in real time: Artmuseum100, Artprice100 and Artmarket100
Thierry Ehrmann, Artprice founder and CEO: Listening carefully to our 4.5 million members, we identified a specific and recurring need. After analysis, we decided to produce an appropriate response to this need in order to reflect the economic paradigm shift that the replacement of the “old economy” by the digital economy represents. In short... this shift imposes a whole new set of standards and measures onto the Art Market and its key players.
Artprice has therefore responded to a clear and specific customer demand for precise and objective rankings of Artists, Museums and Market Makers according to their influence on the Art Market by creating three new global algorithmic indices: Artmuseum100®, Artprice100® and Artmarket100®, each generated using a sound, sustainable and irrefutable methodology.
Artprice owns and exploits the world's leading databank on art prices and art indices, containing auction results for over 700,000 artists over 20 years and more than 30 million indices. #ARTPRICEA20ANS #ARTPRICEIS20TODAY*
Artprice permanently enriches its databanks with information from 6,300 Auction Houses and publishes a constant flow of Art Market trends for the world's major news agencies and 7,200 press publications worldwide.
Artprice and Server Group (Artprice's parent company and Internet pioneer in 1987), in collaboration with Artprice's Econometrics & Statistics Department, have pooled their expertise to produce three global algorithmic indices: Artmuseum100®, a ranking of the 100 most influential museums; Artprice100®, a ranking of the 100 most influential artists, and Artmarket100®, a ranking of the 100 most influential market makers on the Art Market.
Their launch is programmed for the first semester of 2018 with Artmuseum100® starting in January 2018 followed by Artprice100® and then Artmarket100®.
These indices will reflect truly global trends with information from the greater Asia zone enhanced by our powerful Chinese government partner, the Artron Group and Art Market Monitor by Artron, headed by Wan Jie.
Every day, Artprice's proprietary algorithms and Big Data applications – which prefigure AI – analyze and scrutinize the Internet to identify the key vectors of influence within the Art Market and within the Arts & Culture sectors more generally.
Naturally, our 120 databases built over 20 years (Artists' Biographies, the Museum Industry®, Biennials and Exhibitions, Art Fairs and Salons, Galleries, Auction Houses, Market Makers, Art Experts, Media...) are perfect data mines for our three new global algorithmic indices: Artmuseum100®, Artprice100® and Artmarket100®.
Likewise, Artprice Images® is the world's largest editorial database focused on the art market with 126 million photos and prints of artworks since 1700 to the present day, commented by our art historians. Together, they represent a veritable historical reference archive… both reliable and objective, and unmatched worldwide.
Artprice apprehends the art market via “meta data”, i.e. by the analysis of a broad spectrum of data derived from social networks, search engines, meta engines, directories, intranets and extranets. This Big Data approach contrasts with outdated methods used on the Art Market so far, such as those of KunstKompass, an annual ranking of the most sought-after artists in the world since 1970, and published in Germany.
On this subject, assuming that contemporary artistic worth (value) is constructed by the joint impact of the Museum World on the one hand, and the Art Market on the other, the famous sociologist Raymonde Moulin (a historical source of inspiration in Artprice's development) remarked: le Kunst Kompass devrait évaluer, par son échelle de notoriété, la valeur économique des artistes - et donc implicitement des œuvres - en même temps que leur valeur esthétique. Par conséquent, le palmarès des valeurs esthétiques que le Kunst Kompass construit doit être considéré comme l'équivalent de la valeur financière de chacun des artistes. In short... there's no reason to believe that economic and aesthetic value should be any different...
Which, for Artprice, is an economic and sociological truth in 2017.
However... Artprice cannot but help admire Marcel Duchamp's timeless vision when he stated that the collector is more of an artist than the artist himself… because he understands the art of collecting art. This notion, which began to emerge at the beginning of the 20th century, is today perfectly quantifiable by Artprice's three global algorithmic indices: Artmuseum100®, Artprice100® and Artmarket100®.
The globalization and computerization of auction sales, contributing to a major structural transformation of the Art Market, has led to a massive increase in demand for art. Meanwhile, the capacity for a growing number of buyers to participate in auctions all over the world has driven the prices of Contemporary art to new heights.
Additional drivers of this growth are ease-of-access to Art Market data (via the dematerialisation of Art Market information), Internet sales (with 95% of market participants connected via Mobile Internet), the financialization of the art market, the increasing number of art collectors (from 500,000 after WWII to 70 million in 2015), their lower average age, and the extension of the Art Market to include the entire Greater Asia area, the Pacific Rim, India, Africa, the Middle East and South America.
Finally, the Museum Industry® (with 700 new museums per year) is proving to be one of the key factors in the spectacular growth of the Art Market. More museums were built between 2000 and 2014 than during the previous two centuries. This new industry – desperate to acquire museum-quality works – has become a global economic reality in the 21st century.
The recent announcement that Leonardo da Vinci's Salvator Mundi will soon be exhibited at the Louvre alongside the Mona Lisa demonstrates the economic reality of the Museum Industry® as conceptualized by Artprice. The correct value of Salvator Mundi was predicted by Artprice 3 months before its public sale on 15 November 2017.
Today's Internet and digital society is all about influence. Modern society is characterized by a multiplicity of institutions and organizations all seeking to influence public opinion: NGOs, lobby groups, think tanks, so-called “civil society” groups, not to mention the media. In this new world, the Internet now represents the world's most powerful vector of communication. Its power and influence are unlimited and it is unrestricted by frontiers.
Artprice, with its 20 years of presence on the Internet as global leader in Art Market information, and Server Group, with 32 years of Internet experience, are now perfectly positioned to measure the primary influences on the Art Market with three new global algorithmic indices: Artmuseum100®, Artprice100® and Artmarket100®. The traditional players on the Art Market do not have anything like the data resources accumulated by Artprice over 25 years and do not have a deep-rooted and innovative Internet culture.
These three new indices will consolidate Artprice's global leader position as their consultation becomes an automatic reflex for everyone wishing to understand a market in full mutation… for amateur art buyers, art professionals, art collectors, museums… in short everyone involved in art.
Indeed, the notion of “influence” has become a dominant and determining factor within the Art Market.
* From 4 October 2017 to 4 January 2018 follow 20 years of Artprice on Twitter, or on our dedicated sites:
www.artprice.com Copyright thierry Ehrmann 1987/2017
Artprice celebrates its 20th birthday, editorial by thierry Ehrmann, founder and CEO of Artprice. https://www.actusnews.com/fr/ARTPRICE/cp/2017/10/04/artprice-celebrates-its-20th-birthday-editorial-by-thierry-ehrmann-founder-and-ceo-of-artprice
Artprice is listed on the Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.
Artprice is the global leader in art price and art index databanks. It has over 30 million indices and auction results covering more than 700,000 artists. Artprice Images(R) gives unlimited access to the largest Art Market resource in the world: a library of 126 million images or prints of artworks from the year 1700 to the present day, along with comments by Artprice's art historians.
Artprice permanently enriches its databanks with information from 6,300 auctioneers and it publishes a constant flow of art market trends for the world's principal news agencies and approximately 7,200 international press publications. For its 4,500,000 members, Artprice gives access to the world's leading Standardised Marketplace for buying and selling art. Artprice is preparing its blockchain for the Art Market. It is BPI-labelled (scientific national French label).
Artprice's Global Art Market Annual Report for 2016 published last March 2017: http://imgpublic.artprice.com/pdf/rama2016_en.pdf
Artprice's Contemporary Art Market Annual Report for 2016 - free access at https://www.artprice.com/artprice-reports/the-art-market-in-2016
The text presented hereafter is a translation of Arte Creative's online presentation: ARTE: A gigantic Christmas tree in the guise of a butt plug, a machine that defecates five-star meals, an icon immersed in urine and staged corpses - subversive, trash, provocative or insulting? Thierry Ehrmann, the man behind The Abode of Chaos dixit "The New York Times", an artist and the founder of Artprice, is the mouthpiece for scandal and discloses the workings of the most striking controversies in contemporary art. And scandal sells. 9 episodes are online: http://www.arte.tv/guide/en/weekly-highlight
Artprice's press releases: http://serveur.serveur.com/Press_Release/pressreleaseen.htm and https://twitter.com/artpricedotcom
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 http://goo.gl/zJssdhttps://vimeo.com/124643720
The Contemporary Art Museum The Abode of Chaos on Facebook: https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999
The Abode of Chaos/Demeure du Chaos Contemporary Art Museum by thierry Ehrmann,author, sculptor, artist, photograph https://www.flickr.com/photos/home_of_chaos/sets/72157