How Does Data Give You the Edge in the Art Market?

The art market of today is a thriving global industry with a diverse community of buyers and sellers from all over the world who compete privately, and often (very) publicly in the race to acquire art, decorative objects, and even sneakers and watches. That’s why having an edge when it comes to data and information is so crucial, and why Artnet’s Price Database is an indispensable tool for any serious market player.

The art market has come a long way from its origins as a small, exclusive business catering to a select group of connoisseurs in major cities around the world. Prices of artworks were once closely guarded secrets, making it inaccessible to the general public. That all changed when, in 1989, Artnet revolutionized the art market by introducing transparency through its Artnet Price Database, which provides clear and precise information on the actual prices of artworks.

With data from more than 1,900 auction houses worldwide, Artnet has recently released a major update to the Price Database, incorporating cutting-edge technology, seamless mobile integration, and design, to enhance its value to collectors and art professionals. This week, Artnet News’s editor in chief Andrew Goldstein discusses the role of data in the art market, the transformative power of the price database, and its exciting new era with Albert Neuendorf, Artnet’s chief strategy officer, and Fabian Bocart, Artnet’s chief data scientist.