ART MANAGEMENT VALUATION
Free asset valuation and management tools are ubiquitous in the financial sector and it was just a matter of time before similar offerings were released by art service companies.
Artprice offers automatic valuations of collectors’ portfolios using a tool which draws prices from its database. It remains to be seen how well this works as credible valuations of comparatively illiquid and non-homogenous art assets require judgment which, one would imagine, is beyond the capabilities of technology. But we are ready to be wrong. If any readers have tried the service, feel free to leave your comments below.
From the press release:
Artprice launches My Art Collection, the first free and confidential art portfolio management service. This service, now available to Artprice’s 1,300,000 subscribers is available…for professional or amateur art collectors anywhere in the world. However much you spend on art, the value of your collection is evolving at an ever-faster pace as the art market becomes increasingly sensitive to economic and geopolitical events. With Artprice’s unique and free service My Art Collection, you can follow the value evolution of your collection as a whole with regular revaluations for each of the works in the portfolio.
Using a simple tool that takes full advantage of Artprice’ knowledge in the sector as world leader in art market information, collectors can follow the financial value of their works and their portfolios at just a glance.
This exclusive service enables Artprice subscribers to take full advantage of their immediate access to Artprice’s leading standardised marketplace and to buy or sell elements in their collections in reaction to market fluctuations.
Moreover, in just a couple of clicks, Artprice subscribers can access the pay-service Artpricing: within 48 hours, our analysts (art historians, professionals and econometricians) can provide updated valuation of works. Artprice subscribers can also access the Artprice databases which contain more than 25 million auction results, indices and price statistics for over 405,000 artists.
In addition, this portfolio valuation service will give our subscribers access to online insurance services with quotes calculated in real time by Artprice and its art insurance partners, thereby accelerating the notion of an immediate financial guarantee of their works.