INTENT TO COLLECT NO MATTER
THEIR EXPERIENCE OR BACKGROUND.
JOINING ME NOW IS THE CEO, MIKE
SYKES.
MIKE, GREAT TO HAVE YOU WITH US.
BEFORE I GET INTO THE SPECIFICS
OF WHAT YOU’RE SEEING IN YOUR
BUSINESS RIGHT NOW, THIS IS SO
INTERESTING TO ME BECAUSE SO
MANY PEOPLE ARE LOOKING FOR
INVESTMENTS THAT ARE AN
INFLATION HEDGE.
CAN’T DO IT IN THE REAL ESTATE
MARKET ANYMORE, SO TALK TO ME
ABOUT THE ART MARKET.
>> ART IS A MULTICENTURY HISTORY
AS A SAFE STORE OF VALUE FOR
SAVVY ART COLLECTORS, AND WE’RE
SEEING, AS YOU NOTED, WITH
INFLATION DRIPPING, WITH PUBLIC
COMPANY EARNINGS WHERE THEY ARE,
HOUSING PRICES AS WE SHOWED
RENTAL YIELDS AT NEAR ALL-TIME
HIGHS A LOT OF INTEREST IN ART
NOT ONLY AS SOMETHING THAT
PEOPLE CAN ENJOY IN THEIR HOMES
AND LIVES, NOT ONLY TO BE A
PATRON TO THE ART WORLD, BUT AS
AN ALTERNATIVE INVESTMENT CLASS.
JACKIE: AND YOU ALSO SAY GIVEN
THE FACT WE’RE IN SUCH A
VOLATILE MARKET RIGHT NOW,
PEOPLE, YOU KNOW, IT’S HARD TO
LOOK AT THE BROKERAGE ACCOUNT
STATEMENTS.
IT’S NOT REALLY AS VOLATILE AS
SOME MIGHT THINK.
>> THE ART MARKET HAS A COUPLE
OF THINGS GOING FOR IT.
ONE IS HISTORICALLY THE ART
MARKET HAS RECOVER FASTER THAN
THE STOCK MARKET.
WE SAW ART PRICES RETURN TO
PRE-RECESSIONARY LEVELS TWO
YEARS BEFORE THE STOCK MARKET
AFTER THE 2008 CRASH.
AND IT’S SELF-CORRECTING IN THAT
IN DOWNTURNS PEOPLE ARE LESS
LIKELY TO BRING PAINTINGS TO
MARKET FOR SALE WHICH MEANS IF
YOU’RE IN THE MARKET ESPECIALLY
FOR NOTEWORTHY HIGH-ENTRENDING
AND EMERGING AND BLUE CHIP
ARTISTS, THE PRICES TEND TO, THE
PRICES TEND TO HOLD UP.
JACKIE: TALK TO ME A LITTLE BIT
ABOUT YOUR JUNE AUCTION, BECAUSE
ONE OF MY FAVORITES WAS ON THE
LIST, ANDY WARHOL.
YOU’VE GOT SOME OTHERS AS WELL
IF SOME PRETTY HIGH PRICES.
>> WE DID.
WE SOLD A WARHOL, KUSAMA AND
EDDIE MARTINEZ, A BUNCH OF OTHER
NAMES THAT FOLKS IN AND OUTSIDE
OF THE ART WORLD ARE VERY
FAMILIAR WITH.
AND NOT ONLY ARTSY, BUT THIS
ENTIRE AUCTION SEASON GOING BACK
TO MID MAY, ARTSY, CHRISTIE’S,
SOTHEBY’S AND OTHERS IT WAS A
RECORD SEASON FOR SECONDARY
MARKET ART SALES AROUND THE
WORLD.
JACKIE: AND IF PEOPLE AREN’T
COLLECTING NECESSARILY AT
AUCTIONS OR THEY DON’T WANT TO
BID AGAINST ORE BUYERS, YOU ALSO
DO A LOT OF PRIVATE SALES, AND
YOU’VE SEEN AN INCREASE THERE
WHERE, I GUESS, ESSENTIALLY YOU
MATCH SOMEBODY UP WITH SOMETHING
THEY’RE LOOKING FOR?
>> THAT’S RIGHT, JACKIE.
WE DO PRIVATE SALES, BUT ALSO
THE BIGGEST PART OF ARTSY, AND
50% OF THE ART MARKET, ARE
PRIMARY MARKET ART SALES THAT
ARTISTS HAVE RECENTLY CREATED.
WE WORK WITH 4,000 GALLERIES
LOCATED IN OVER 100 COUNTRIES
AROUND THE WORLD.
AND PHOTOGRAPHS AND SCULPTURES
FOR SALE IN A WAY THAT BEFORE
ARTSY WAS REALLY DIFFICULT TO
ACCESS.
YOU USED TO HAVE GALLERY TO
GALLERY, FAIR TO FAIR, PRICES
WEREN’T TRANSPARENCY,
AVAILABILITY WASN’T CAREER, AND
TRANSACTIONS COULD TAKE WEEKS
AND BE VERY CUMBERSOME.
WE’VE GOT THAT ALL DOWN TO THE
CLICK OF A BUTTON IN AN APP.
JACKIE: THAT’S SO INTERESTING.
>> AND IT’S A REALLY FUN WAY TO
ENGAGE IN THE ART WORLD.
JACKIE: LAST QUESTION.
I DON’T HAVE AN EXTRA $312,000
FOR A WARHOL RIGHT NOW, BUT IF I
I WANTED TO GET IN THE ART
MARKET AND GAVE YOU A MUCH MORE
MODEST BUDGET AND SAID FIND ME
SOMEONE THAT’S UP AND COMING,
COULD YOU HELP ME TRY TO FIGURE
THAT OUT?
>> ABSOLUTELY, JACKIE.
THERE ARE CLEAR VALUE SIGNALS IN
THE ART MARKET THAT AREN’T
ALWAYS OBVIOUS TO TO PEOPLE FROM
THE IF OUTSIDE THAT WE BRING TO
THE FOREFRONT, TO THE ARTEST
PAGE AND THE ARTWORK PAGE ON
ARTSY.
WE ALSO PUBLISH ALL OF THE
SECONDARY MARKET PRICE POINTS
FOR FREE TO ANYONE WHO’S
INTERESTED.
FINALLYIED THE TO WE HAVE ON THE
SITE A COLLECTION OF THE ARTISTS
WHOSE SEARCH VOLUME IS GROWING
AT THE FASTEST LEVEL RIGHT NOW
ON ARTSY.
SO IF YOU WANTED TO KNOW WHAT IS
EVERYONE LOOKING FOR, WHO IS THE
HOTTEST ARTIST GOING TO BE NEXT
MONTH OR NEXT YEAR, YOU COULD GO
TO AROUND CITY -- ARTSY TODAY.