artnet AG: Artnet Auctions Launches Buy Now Business; Hires Emma Fastenberg to Lead the Charge

  • Artnet Auctions expands into the Buy Now space
  • Gallery veteran to lead the business
  • New channel to offer fixed price works

BERLIN, GERMANY / New York, NY / ACCESSWIRE / August 30, 2021 / Artnet AG, the leading provider of art market data and online-only fine art auctions, announced that Emma Fastenberg has joined Artnet Auctions as the Head of Buy Now. In addition to the company’s existing online auctions business, the Buy Now division is a new sales channel that will be focused on offering fixed price works across collecting categories. Ms. Fastenberg will also lead the charge on developing releases and timed sale opportunities for historical and newly released prints and editions.

Ms. Fastenberg joins the Artnet Auctions team from Pace Prints where she most recently served as Director. In her time at Pace Prints, Ms. Fastenberg developed close relationships with clients and artists as well as a broad experience in the contemporary printmaking and publishing industry. Ms. Fastenberg holds a Bachelor of Arts in Art History from Tulane University.

“There is no one better equipped to envision and execute on this new channel for the business than Emma”, said Colleen Cash, Vice President, Auctions. “Emma’s years of experience in bringing to market historical and new works in innovative and commercially savvy ways are a unique advantage for us in this increasingly competitive space. She has strong market instincts and a wide global network; that coupled with the power of the Artnet suite of products is a recipe for success.”

“I am thrilled to join Artnet to develop and scale the Buy Now Feature. Purchasing art digitally has become more desirable than ever and a Buy Now feature built on Artnet’s foundation of transparency & reliability will provide an edge in the growing art e-commerce space.” said Emma Fastenberg, Head of Buy Now, Auctions. “I look forward to working with Artnet on new and profitable initiatives. The Buy Now experience will complement Artnet’s growing business while shaping the future of how people buy art.”

This new channel expands transactional opportunity for buyers and sellers alike by building out a business focused on curated offerings available at a set price. The channel will be instrumental in ensuring Artnet Auctions has a varied consignment pipeline across private client and institutional bases, and ample opportunities for buyers with varied collecting interests to transact across price points and outside of Auction parameters.

Artnet Auctions is a pioneer of the digital art market, and was the first to launch online sales dedicated to fine art. Today, it hosts more than 70 curated sales a year featuring a range of sought- after contemporary art , prints, and photographs, offering collectors strategic opportunities to buy and sell year round. Artnet Auctions fee-based revenue increased significantly by 23% to 3.0 million USD in the first six months of 2021, as compared to 2020, and is aiming for another record year.

Emma joined the team in August 2021 and is available to discuss sale opportunities for the fall season.

About Artnet

With 24/7 worldwide bidding, Artnet Auctions is the leading online-only marketplace for buying and selling fine art. New bidders, buyers, and consignors across categories, geographies, and demographics entrust artnet Auctions with their needs. More artworks are offered and traded digitally than ever before and Artnet Auctions’ efficiency, digitally native operation, quick turnaround, and continuous sales throughout the year are unmatched in the industry. The auction platform allows for immediate transactions, with a seamless flow between sellers, specialists, and collectors. Complementing the online auctions, artnet is the leading resource for researching art online. Founded in 1989, Artnet’s suite of industry-leading products has revolutionized the way people discover and collect art today. The Price Database contains more than 14 million auction results from 1,900 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with collectors from around the world, offering the most comprehensive overview of artworks for sale. Artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary.

Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards.

ISIN: DE000A1K0375


Sophie Neuendorf

SOURCE: artnet AG

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