How does it Work?

Artsted is a technology company that is working towards the democratization of the art market using cutting-edge technology and proprietary algorithms for transparent evaluations. Traditionally one of the vaguest issues in the art market is price formation and determining the underlying value of a given artwork. To date there has been universal standard or a clear and regulated structure related to this matter, since price fixing is a major tool of manipulating profit margins as a habitual business practice. The Artsted creators recognised an important shift in the attitude towards information transparency as a top priority for Millennial and Generation Z collectors over the recent years. The solution the platform offers is to use Big Data for valuations, estimations and price predictions. Normally it is transactional data from publicly available auction sales. However only an estimated 5% of overall transactions in the art market are going through publicly recorded auctions, the rest is done in closed ecosystems or through private deals. The technology tools employed by the Artsted platform, empower the creators to take control of their career progress, as well as provide art collectors with unprecedented freedom to receive instant insights on the value of their collection as part of a diversified portfolio.

At Artsted we are looking at a solution to use non-transactional data for price formation and updates, such as giving calculated estimates to non-monetary metrics that are directly correlated to an artist's career performance.