We regularly have gallery visitors asking us how to begin investing in art. Many are hesitant about entering a market they see as complex and secretive. However, we aim to make investing in art accessible to everyone, regardless of their experience in the market.
Luckily, the broader art market is taking note of this need too, and multiple research projects are popping up with aims of making the art investment world more analytic. In fact, the Art Newspaper recently suggested we are facing the start of an “art data arms race.”
For this reason, we’re proud to join the ranks of the world’s leading galleries and collaborate with online art database Artsy.
The art investment market has a long history, and has traditionally been seen as an exclusive industry which is difficult to enter and even harder to excel in. However, could big data be changing the way that art is represented to the world?
While some long-established auction houses may be tempted to maintain their old ways of working, the art market is rapidly moving online and transforming the opinions of investors.
“The art market it is a very old and very sophisticated market,” Dr. Fabian Bocart, Head of Analytics at Artnet, explained to the Art Newspaper. “But given proper supervision and proper tools, I think wonderful things will happen.”
Artsy describes its mission “to make all the world’s art accessible to anyone with an Internet connection.” With this in mind, the platform is a vital resource for art lovers, students, collectors and professionals alike.
New works are added every day to what is widely considered the largest online database of contemporary art. This includes 500,000 images of art, architecture, and design by 50,000 different artists based all over the world, in different styles, mediums and sizes.
Artsy also partners with leading galleries, museums, fairs and auctions to cover art exhibitions and other cultural events.
The constant evolution of Artsy is led by the Art Genome Project, which maps characteristics or “genes” to connect artists, artworks, architecture and design across history.
There are currently over 1,000 characteristics being mapped, including art historical movements, subject matter and formal qualities. “Genoming” is carried out by a team of art experts, giving individual works a defined set of characteristics.
As a result, there are new opportunities to discover connections between modern works and historic pieces, and to appreciate art similar to your current tastes.
The aim of Artsy is “not to disrupt” but instead to provide a helpful service which makes investing in art more accessible and understandable for a global audience. This is an ambition which we at Maddox Gallery share.
As an Artsy partner, Maddox Gallery is able to share our artists with a global audience, and contribute to a hugely helpful and comprehensive resource for individuals investing in art.
Just as Artsy serves as a link between gallery partners and art collectors, Maddox Gallery aims to bridge the gap between emerging contemporary artists and art investors. By educating individuals on our artists and their work, we hope to show them how to begin investing in art which suits their tastes and has potential to produce high returns in future.
To learn more, please pay us a visit at either of our Mayfair galleries. Our Sotheby’s-trained art consultants are more than happy to talk you through our exhibited works and discuss the artists in more detail.
If you want to learn more about investing in contemporary art, take a look at ‘The Six Key Factors to Consider When Making an Art Investment.’ To find out more about any of our represented artists, please contact Maddox Gallery. Our Sotheby’s-trained art consultants will be happy to provide expert advice.
Written by James Nicholls, Chairman, Maddox Gallery.