Outlook: Bidding for glory
artnet has a strong reputation supplying online data and services to the global fine art market. The group has been investing heavily in the functionality and user experience of its website, at short-term cost to profits. However, the spend should give it the tools to exploit the opportunities afforded by the growing online fine art market, as well as increasing advertising revenues. Success in building its online auctions business is key to top-line growth. The share price is at a discount to other quoted art and online businesses, which should narrow with better trading.Artnet is engaged in the business which provides art collectors, galleries, publishers, auction houses, and art enthusiasts with a website where individuals can research artists and art prices, and find artworks that are available in artnet Galleries or on artnet Auctions. Co. operates within four segments: the artnet Galleries, which presents artwork from member galleries' online; the artnet Price Database, which comprises all database-related products; artnet Advertising, which produces banner as well as national and international advertising on the website; and artnet Auctions, which provides a platform to buy and sell artworks online.
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