DGAP-News

artnet AG: Record Results at Artnet Auctions

DGAP-News: artnet AG / Key word(s): Development of Sales/Monthly Figures artnet AG: Record Results at Artnet Auctions 27.10.2021 / 09:00 The issuer is solely responsible for the content of this announcement. Record Results at Artnet Auctions

- 1.3 million USD in total sales following competitive bidding

- Average transaction value exceeds average value offered by 54%

- Records for Keith Haring, Robert Longo, and Mel Bochner Set

Berlin / New York, October 27, 2021 - Artnet AG, the leading provider of online art auctions, art market data and news, announces that Artnet Auctions' recent Premier Prints & Multiples sale achieved the second highest grossing sale in the business' history. Following a historic sale held by the department this past spring, which continues to hold the top spot, Artnet Auctions once again confirms its relevance in the prints segment. With more than 1.3 million USD in total sales, the October 2021 auction achieved a 44% increase in total sales as compared to its fall 2020 iteration. The average transaction value was 36,000 USD - a 54% increase compared to the average value offered in the sale.

"It is a testament to the strength of the print market and the appetite for strong work that our Prints team set new auction records for Keith Haring, Robert Longo and Mel Bochner," said Conner Williams, Artnet's Head of Prints & Multiples. "The large Bochner monoprint and Longo lithographs from the iconic Men in the Cities series are records for any print by the artists".

The sale saw competitive bidding from 14 countries across Asia, Europe and North America. Following more than 200 bids, 100% of lots sold -32 lots total- exceeded their low estimate and there were five results in the six figure range

Top Lots from the sale included Robert Longo's Meryl and Jonathan (complete set of 2 works from Men in the Cities) (1988) which achieved 150,000 USD, Mel Bochner's Ha Ha (2014) which achieved 137,500 USD, and Keith Haring's Pop Shop II: one print (1988) which achieved 57,500 USD - all prices including premium.

"Achieving two of our highest grossing sales this year and setting records for artworks regularly shows the significance and standing Artnet Auctions has established," said Artnet CEO Jacob Pabst. "Buyers and sellers cherish the unmatched liquidity online auctions offer. The online art market is at an inflection point - and our team is spearheading this transition."