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Why it is important to start saving
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How much money should I save?
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What percentege of my income should go to savings?
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As dealers and auction houses move their businesses online to mitigate the effects of COVID-19 on the art market, buyers too face uncertainty and a lack of confidence in buying artworks and interacting with art institutions. According to the article in Barron’s, “People who are comfortable buying pricey cars or jewelry often don’t carry the same level of confidence when they step into an art gallery.” This point was elaborated upon by Mike Steib, CEO of Artsy, who told Barron’s, “The industry is opaque, it isn’t accessible, and there’s high transaction friction. So [wealthy people], despite their means, come to believe that it must not be a world that’s available to them.”
Beyond the effects of COVID-19, the article states that the digital art market faces a lack of confidence from clients operating in an unfamiliar space. A quote from Anders Petterson states that “one explanation for the market’s relative weakness in the face of so much wealth is the opacity of art pricing and information-sharing.” Artory has made it their mission to shake this perception of our market.
A Mariko Mori sculpture at Sean Kelly Gallery in New York. Kelly has launched a campaign to help demystify the art market. Photograph by Jason Wyche, New York. Courtesy of Sean Kelly, New York
Artory is here to answer these perceived issues within the art market. “One solution may be with the four-year-old firm Artory, based in New York and Berlin, which is working to provide greater transparency in quality and provenance with a free blockchain-secured art registry backed by the vetting and appraisal services of the global Winston Art Group,” writes Barrons.
By becoming a Partner with Artory, like the leading appraisal firm Winston Art Group, you give your clients an additional layer of confidence in an artwork’s condition, authenticity, provenance, and ownership. Artory’s mission is to bring an added layer of confidence to both dealers and their clients by registering and securing artwork information on the blockchain. Your clients want their artwork to be verified with a digital signature from you, to have their artworks stand out as trusted among millions of unverified artworks, and to guarantee that their artwork and private information is protected.
