4ARTechnologies Group (4ARTechnologies Holding AG and its subsidiaries) – hereafter referred to as "4ARTechnologies" – is building a blockchain-powered cataloguing and transactions platform to bring greater transparency, security and process efficiency to the art world.
At the heart of the platform lies a patented “augmented authentication" technology made available through our unique technical partner Atlantic Zeiser GmbH. By allowing users to log an artwork’s “fingerprint” on the blockchain along with all important information on history/provenance, this technology renders registered artworks essentially unforgeable. Requiring nothing more than a standard smartphone, this first-of-its-kind solution doesn’t just combat the problem of art fraud, but provides highly relevant use cases for all art world players.
4 creased. However, included in these figures are only those transactions that are carried out by galleries, auction houses or other commercial sellers.
With the inclusion of private sales, the market is more likely in the range of $ 100 billion.
With 4ARTechnologies’ solution being of immense value to logistics providers, let’s take a look at the transportation volume: TEFAF’s Art Report 2017 details the turnover through import and export of artworks. At an average price of $ 5000 per image – according to TEFAF, 80% of artworks traded in 2017 were in the lower price segment – this amounts to 13.5 million cross-border transports.
Then there are the art fairs, one of the central sales avenues for artworks. 10 global cities are host to the 70 most important fairs, each of which features roughly 30,000 works offered by 350 vendors from EXECUTIVE SUMMARY.
This makes for approximately 2.1 million transports, all requiring condition reporting and insurance. In addition to the larger art fairs, there are about 100,000 local exhibitions and gallery openings. If each of these includes 20 images, then the number of transports grows by another 2 million. If 50% of the exhibited works are shipped back, then the total sum of transport movements in connection to art fairs, exhibitions and shows is upwards of 6.1 million.
You can get an exact overview of the market potential by using the stored charts.