Update: Painting the scene
artnet continues to build its market presence, buoyed by the growth in the influence of online in the international fine art trade. Heavier investment in sales and marketing costs and the launch costs of the newly-revamped website are weighing on profitability short-term and we have brought back our numbers post the publication of the half-year figures. However, there are signs that the more ‘traditional’ elements of the business are turning the corner, while the auctions business starts to gain more traction. The share price continues to fail to recognise the scale of the opportunity.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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