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Artprice Surpasses Itself in its Goal to Standardise the Art Market

PARIS, July 6, 2012 /PRNewswire/ --

As already announced in our press release on 4 June 2012, Artprice has now started the progressive transfer to internet freeware of a large part of its database structure and of its Art market standardisation (owner licenses distributed freely with certain usage restrictions). All of the industrial processes forming Artprice's databanks are patent protected, notably by the A.P.P. (Agence de Protection des Programmes - Software Protection Agency).

The art market players' needs is such that Artprice's normalized database of 497,677 artists listed at public auctions has been fully downloaded over a total of 205,000 times. According to thierry Ehrmann, Founder and CEO of Artprice : -this spectacular figure, achieved in one summer month (June 2012)-, validates Artprice's Creed and Postulate according to which the art market's standardization is the master key to dematerializing the art market, which includes of course the Standardised Marketplace® for buying and selling works of art by private contract or at auctions.

For the record, since 1 June 2012, the Artworld, particularly Institutions, Universities, Museums, Foundations, Libraries, Legal & Customs Services, Copywriters (like ADAGP), Insurers, Encyclopaedic databases (like Wikipedia), Internet Directories and, of course, Auction Houses, Galleries, and Associations of Valuers, now have free access to Artprice's Artists-index.com. This standardised database, Artist-id.com, is considered by far the most exhaustive artists-index in the world by the art market, historians and researchers alike. It is available in 5 languages in addition to English (French, German, Italian, Spanish and Chinese). To get your free access to this database, visit: http://web.artprice.com/artists/directory/A

All of the above-mentioned key users and market participants will thus soon also be able to enjoy Artprice's B2B development on open APIs using REST (Representational State Transfer) architecture, an innovative way of constructing an application for fixed and mobile systems using the Web's original architecture. An Artists database of this dimension, added to daily, is the fruit of dozens of acquisitions worldwide by Artprice and a nearly a million hours of work by its Historians, Writers and IT Developers from 1997 to 2012 (see details and background in Artprice's Reference Document, certified by and available on the AMF's website).

According to thierry Ehrmann, this strategy of making integral information freely available to the Artworld and the spectacular first results, achieved in less than a month, will enable Artprice to strengthen its art market standardisation so that it can accelerate the development of its fixed-price and auction-brokerage activities and ensure its position as an unavoidable global player in a deregulated art auction environment by becoming a standardised infrastructure allowing, as of 2012, the processing of online auction brokerage operations (as described in Article 5 of French Law no. 2011-850 of 20 July 2011).

These industrial processes, which standardise the Art Market (artist ID, artwork ID, catalogue ID catalogue raisonné, References ID, etc.) with tens of millions of proprietary data entries, are currently being deployed on the art market, notably in the framework of the partnership signed with Google in 2003 (without any impact on Artprice's revenue or earnings for 2012), but also via the development of the open APIs created in REST architecture, in order to generate a very strong acceleration of the client database. In addition, a mobile application is currently being developed, both for Ipad / Iphone and for Google's Android.

Via these new vectors of standardisation, originating from its fixed-price and auction brokerage Standardised Art Marketplace, Artprice is now able to transfer vast amounts of information to freeware mode with the goal of raising its client database (with accompanying behavioural logs - purchases, sales, searches, art portfolios, etc.) from 1.4 million to 2 million before the end of the year, which is progressing positively given the latest figures.

Source: http://www.artprice.com ©1987-2012 thierry Ehrmann

Artprice is the global leader in databank on Artprices and indices with more than 27 million indices and auction results covering 497,000 artists. Artprice Images® offers unlimited access to the largest Art Market resource in the world, a library of 108 million images or engravings of artworks from 1700 to the present day along with comments by Artprice's art historians. Artprice permanently enriches its databanks with information from 4,500 international auction houses and auctioneers and publishes a constant flow of art market trends for the main news agencies and 6,300 international written media. For its 1.4 million members (member log in), Artprice posts standardized adverts in what is today the world's leading Standardised Marketplace® for buying and selling works of art by private contract or at auctions (regulated by French law alinéas 2 et 3 de l'article L 321.3 du code du commerce).

Artprice is listed on Eurolist B by Euronext Paris (SRD long only) : Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF

Artprice releases:

http://serveur.serveur.com/press_release/pressreleaseen.htm

Discover the Alchemy and the universe of Artprice http://web.artprice.com/video/, which headquarters are the famous Museum of Contemporary Art, the Abode of Chaos

Follow all of the art market's news with Artprice on Twitter:

http://twitter.com/artpricedotcom/

Contact: Josette Mey - tel: +33(0)478-220-000, email: ir@artprice.com


SOURCE Artprice.com




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