Image: Sam King, Don’t let me go, 2021
Artsted is a female-founded art start-up and the only online platform to offer affordable investment-grade artwork backed by a transparent price history and artist career analytics.
“Artsted is essentially an online art marketplace that equips next generation collectors to identify tomorrow’s blue-chip artists. Simultaneously, it makes artists the masters of their career progress by enabling them to create an online provenance for their portfolio and collate data proving their institutional recognition, factors determining the market value of their art,” explains Artsted founder and CEO, Maryna Rybakova.
“The problem is that pricing and valuating knowledge is traditionally the reserve of industry insiders. However, we aim to significantly transform and disrupt the art market as we know it by disclosing the well-guarded secrets that make the process of trading art inconvenient and inaccessible to newcomers.”
Image: Artist testimonial, courtesy of Artsted.com
“Artsted focuses on nurturing emerging artists not only because they are the present and the future, but because their markets have long been subject to price fixing, a business practice used habitually to manipulate profit margins,” continues Maryna.
Artsted proposes to deal with the price-fixing problem by utilising its proprietary algorithm to determine the underlying value of a given artwork based on an artist’s transactional and non-transactional metrics.
“By using AI-driven technology to open the Pandora’s box on how transactions are conducted in the contemporary art marketplace, Artsted benefits new collectors, giving them unprecedented real-time insights into the value of their collection as part of a diversified portfolio.”
It also positively impacts emerging artists, facilitating the promotion of their artworks through free targeted advertisement and profile optimisation, helping them break into the global art market, which is currently valued at 64 billion(*).
“Another aspect that sets Artsted apart is that we only take a 35% commission unlike physical galleries, which take up to 50% in commission for each sale,” says Maryna.
A brave new art world
“The idea for the Artsted platform was inspired by my experience of the stock market and finance realm in general where investors get various tools and indicators to help decision-making process and figure out the future performance of a given asset. I felt this same approach could be applied to the art world, which considers artworks as investment assets,” adds Maryna.
“As an industry renowned for its reluctance to adopt innovation as part of its core practices, the art market may soon find itself in an unfavourable position and competing for next generation of collectors with yesterday’s art outsiders and underdogs, who represent the vanguard of an art technology scene featuring non-fungible tokens and where social media and decentralized finance tools enable artists to sell directly to retail collectors.”
“Artsted aims to be at the forefront of this tremendous power shift, transferring the authority and financial resources from the ‘old’ market to the ‘new’,” concludes Maryna.
Conclusion
Artsted is a global online sales art marketplace that is harnessing innovative AI-driven Art Investment tools to encourage fairer trading relationships between up-and-coming artists and collectors looking for investment-grade work. It is a key project of Artisfact Limited, an English art start-up founded by Maryna Rybakova in 2019. Maryna Rybakova has a bachelor’s degree in Cultural Heritage from the European Humanities University and a master’s degree in Arts Management and Economics from the University of Sacred Heart in Milan.
*(source: Statista)
Media Contact
Company Name: Artsted
Contact Person: Maryna Rybakova
Email: Send Email
Phone: 3343135052
Address:71-75 Shelton Street, Covent Garden
City: London
Country: United Kingdom
Website: https://www.artsted.com
