Sign of change

Auction houses and the Internet

Art Market | With the internet, new electronic data bank companies - founded at the end of the 80s and today listed on the stock exchange - which have developed the econometric tools to measure prices and analyse the short-term market, are clearly positioned on the auction market : the pioneer Artprice has organized itself as a courtier for auctions conducted electronically by distance (according to the French law of 20th July 2011) whilst Artnet has annexed the skills of Sothebys which it has integrated into its capital. The market share of the auction houses will be further reduced in years to come; the large auction houses Christie’s and Sotheby’s have already anticipated this by diversifying and developing their sector of prestigious private sales. An unsegmented market is being recast. Digital data has clearly become a productive resource.

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