DGAP-News

artnet AG: Second Quarter off to a Strong Start as Artnet Auctions Achieves New Heights in April

DGAP-News: artnet AG / Key word(s): Development of Sales/Monthly Figures artnet AG: Second Quarter off to a Strong Start as Artnet Auctions Achieves New Heights in April 17.05.2021 / 15:10 The issuer is solely responsible for the content of this announcement. Second Quarter off to a Strong Start as Artnet Auctions Achieves New Heights in April

- 49% increase YoY in fee based revenue for Artnet Auctions in April

- 60% increase YoY in new buyer volumes and 65% increase in new bidder volumes YoY

- 300% increase YoY in number of works sold above $100k for 2021 YTD

Berlin/New York, May 17, 2021-Berlin-based Artnet AG, the leading provider of art market data and online-only fine art auctions announced that April 2021 was another record month for Artnet Auctions. Fee-based revenue saw an increase of 49% to $660k USD YOY. As the strongest April in Artnet Auctions' history, the latest results continued a sustained trend of record-breaking months. Nine of the last twelve months have been the strongest-ever since Artnet Auctions' founding. In the first quarter, fee-based revenue at Artnet Auctions rose by 25% year-over-year to 1.2 million USD, setting a new revenue record for a first quarter.

"The past year presented a perfect storm of market conditions in the art industry and our team has been ready to meet those conditions with expert strategy and execution," says Colleen Cash, Vice President of Auctions. "Our Post-War & Contemporary, Photographs, and Prints & Multiples teams are operating at the highest level of innovation, curation, and market savvy, and consignors, buyers, and bidders are taking notice."

Artnet Auctions has debuted a series of new initiatives in 2021 focused on client acquisition and market expansion. A webinar-based content series called "A Closer Look" connects clients to critical art market players in conversation on industry topics, and the series has garnered hundreds of attendees from across the globe. Additional initiatives focused on expanding the curatorial and market reaches of the platform have proven successful, and April's inaugural Art of the Americas sale and Africa Present sale saw scores of new bidders, buyers, and consignors across categories, geographies, and demographics.