(New York) October 11, 2016 – TEFAF, the world’s preeminent fair of art and antiques, today announced that Invaluable, the leading online marketplace for fine art, antiques and collectibles, will be the marquee sponsor for both TEFAF New York and TEFAF Maastricht. The new association will officially launch at the inaugural edition of TEFAF New York Fall, a joint venture between TEFAF and Artvest Partners, and will continue for TEFAF Maastricht in The Netherlands from March 10-19, 2017 and TEFAF New York Spring from May 4-9, 2017.
Invaluable’s experience is in helping galleries and dealers develop robust digital strategies and connect with the company’s engaged, passionate collector base from 180 countries around the world, and aims to strengthen relationships within the dealer community, making it a natural fit for TEFAF.
As such, in the coming months Invaluable and TEFAF will be launching the TEFAF Digital Excellence Program powered by Invaluable, a new initiative that will provide dealers with the digital tools necessary to grow their business between fairs by expanding their reach and connection with new buyers online. Together, TEFAF and Invaluable are committed to exploring avenues to further grow the online art market, with an emphasis on high quality works and strong buyer confidence.
“Our first commitment at TEFAF is supporting the dealer community by consistently exploring ways that will expand their global platforms,” comments Patrick van Maris, TEFAF CEO. “We share the view that growth centers around the establishment of new dealer resources and connections, while at the same time we believe that, with the experience and expertise within our network and the very high standards we uphold for quality, condition and authenticity of art works put forward at our fairs, we can make a valuable contribution to the future of the online art market space. We are delighted to be working with Invaluable to that end."
Rob Weisberg, Invaluable CEO, said: "We are honored to embark on this new relationship with the world’s most prestigious fair for art and antiques. As the strong demand for fine art and antiques continues to grow online, we couldn’t think of a better partner than TEFAF to help ensure we bring the highest quality fine art and collectibles online and continue to raise the bar in this area."
According to the 2016 TEFAF Art Market Report, “in the traditional auction and dealer sectors, online sales have grown to account for an increasing share of the sales.” The report states that in 2015, sales of art online were estimated conservatively to have reached $4.7 billion, up 7% year-on-year and accounting for 7% of all global art and antiques sales by value.
When dealers specifically were asked to report the biggest challenges they faced over the next five years, the most frequently cited challenge was finding new buyers (73% of respondents). The report also found that of the dealers currently making sales online, the majority of their sales (52%) were to completely new buyers, illustrating how a strong digital strategy can help in this respect. Most dealers were also optimistic about online sales, as 58% thought they would increase over the next five years.
"The way that people buy art has unquestionably changed and we are seeing more galleries and dealers seeking new collectors by extending their reach online,” continued Weisberg. “We believe Invaluable can help dealers connect with millions of potential new buyers without having to make a large investment in technology and marketing services. We've taken care of that."
To learn more about TEFAF New York Fall, visit www.tefaf.com.
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About TEFAF New York
A joint venture between TEFAF and Artvest Partners, TEFAF New York was founded in early 2016 to host two annual art fairs in New York at the Park Avenue Armory, TEFAF New York Fall and TEFAF New York Spring. Each fair will comprise over 90 leading exhibitors from the around the globe. Tom Postma Design, celebrated for its innovative work with leading museums, galleries, and art fairs, has developed designs for the fair that interplay with the spectacular spaces while giving them a lighter, contemporary look and feel. Exhibitor stands will flow throughout the Armory’s landmark building encompassing the Wade Thompson Drill Hall and extending to both the first and second floors of the Armory’s period rooms, creating a fair of unprecedented depth and impact in New York City.
About TEFAF Maastricht
TEFAF Maastricht, the world’s leading art and antiques fair, is unequalled in the quality of its offering, championing the finest art dealers and experts from around the world. TEFAF is a not-for-profit foundation acting as an expert guide for both private and institutional collectors in a global art marketplace, which inspires lovers and buyers of art everywhere. The 30th edition of TEFAF Maastricht will be held in the MECC Maastricht from 10-19 March 2017.
The TEFAF Museum Restoration Fund contributes to the conservation of objects that are in museum collections and supports the sharing of knowledge about conservation with other museums and the general public.
Since 2005, TEFAF has been supporting research and international collaboration by means of a special Chair of Oncology at the research institute GROW, the School for Oncology and Developmental Biology at the Maastricht University Medical Centre.
Artvest Partners LLC is an independent art advisory firm that counsels private clients, museums, foundations, and Fortune 500 companies on valuations, market projections, acquisitions, dispositions, and business strategies related to art. Additionally, Artvest arranges art financing for private collectors and dealers. Since its founding in 2009 by Michael Plummer and Jeff Rabin, Artvest has guided clients from around the globe on projects in the billions of dollars. In 2014, Artvest was named as an Expert Witness for the Detroit Institute of Arts and the City of Detroit in the City’s Chapter 9 bankruptcy trial. From 2014 to 2016, Artvest has owned and managed Spring Masters, an art fair held annually in May at the historic Park Avenue Armory.
Invaluable is the world’s leading online marketplace for buying fine art, antiques and collectibles. Working with more than 4,000 of the world’s premier auction houses, dealers and galleries, Invaluable helps buyers from nearly 200 countries connect with the things they love. With best-in-class online bidding technology, along with a fixed-price retail platform, Invaluable provides sellers with e-commerce and marketing solutions, as well as auction management software. The company unveiled its “Buy Now” platform in March of 2016, providing galleries and dealers the opportunity to offer their one-of-a-kind property for immediate purchase on the Invaluable marketplace. Recently called “one of the fastest growing e-commerce sites in the art world” by Blouin ArtInfo, Invaluable has also been recognized by Deloitte’s 2015 Technology Fast 500™ and the 2015 and 2016 EY Entrepreneur Of The Year® program. Headquartered in Boston, Invaluable also has offices in the United Kingdom, France, Germany, Belgium and Australia. For more information, visit www.invaluable.com or follow us on Twitter at @InvaluableLive.