Artsted is an online marketplace the objective of which is to create clear and direct exchange relationships between artists and collectors empowering transparency values. The project is aimed at emerging creators and targets a new generation of millennial art investors who are looking for an innovative approach in the art market sector. Artsted works with data analytics and charts to provide collectors the latest updates about each artist registered on the platform. Ultimately, Artsted’s purpose is to benefit both parts: on the one hand, the artist receives what they deserve, and, on the other hand, the buyer pays a fair price for what they have acquired. It is a win-win deal.
Artsted arises from a specific need and a long-existing customer pain. For years, the art market has been a place full of confusing issues, and the vaguest one has always been price formation. This problem does not only affect artists’ careers, but their rights and status. The platform wants to substitute the traditional valuations system, where estimates normally come from publicly available auction sales, for a more precise and primary market oriented one: using non-transactional data for evaluations and updates based on users’ CV entries calculated with a simple formula. In fact, Artsted is surprisingly the first art ecommerce that focuses on data analytics to create a transparent framework.
What kind of artworks are going to be found on the platform by the new wave of art investors? The Artsted team is responsible for selecting the art pieces they offer to collectors. For them, it is important to control the quality of the visual content and institutional presence of artists on the platform. Therefore, the artist will join the marketplace once the admin has manually checked all the entries and accepted them.
The accurate pricing and valuations method benefits both artists and collectors.
The first, once they sign up, upload the required info and are accepted, take advantage of an incomparable number of tools: on Artsted, each artist creates a digital track record with real-time market updates. Besides that, the platform provides free advertisement, to favour creators’ visibility and sales. At the same time, art investors receive instant analytics from the artists and are able to “google” with an investment outlook finding a more accountable approach to evaluations. The best part is that all the services are free for the artists, meaning that unlike physical galleries who take up to 50% in commission on each sale, Artsted reduces it to 35% on each sold item. This is why its philosophy is about proximity and transparency.
To sum up, Artsted aims to support emerging artists launching them to the global art market on their own merits. The platform allows them to operate as self-auditors, only exhibiting the relevant data they choose. The online track record as the result of the artist’s performance progress is an effective way to obtain instant analytics and evaluations for collectors, thus making a decision becomes easier for the latter. Artsted is interested in loyal art investors, as they are not exclusively looking for the decorative value of the artwork, but also have the willingness to nurture artists’ careers.
In a nutshell: Artsted fights for a the fair play in the art market, fostering a transparent trading relationships between artists and collectors, creating a clear price formation system based on artists’ career performance.