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The Art World Online Q&A: No. 5 ARTNET'S APPROACH By Bill Fine, President Q: The sheer rate of failure of online art sites brings into question the very efficacy of the Internet, at least where the art world is concerned. A: The Internet is a breakthrough technology for art dealers because it gives them a platform where color images can be communicated to a large audience for a fraction of what it costs in print. Quite often in a new industry many fail during the experimental phase. artnet has not only survived, it prospers because, in my opinion, it has the superior business concept. Q: How have you managed to succeed while so many others have failed? I presume you're profitable. A: We are . . . and there are probably four or five reasons . . . for one thing we dropped the "transaction model" two and a half years ago. Q: "Transaction model?" A: We don't attempt to transact directly with the collector via auction software, nor do we attempt to sell consigned goods directly. At a certain level of the market, this has not been successful for anybody. On artnet the business is direct to the dealer. We don't insinuate ourselves into the transaction . . . dealers like that, because, at the end of the day, they're looking for a collector and not just a transaction. Q: What else have you done right? A: Well, I think early on we decided to focus on the quality market, and, over time we have enlisted the participation of a higher and higher percentage of the important dealers who, themselves, place the important inventory on our site. Much as the "top lot" drives the sale at auction, on artnet the inventory drives the audience. Q: What else are you doing right? A: We think updating the site is extremely important, and we have a disciplined client services department speeding updates . . . And there's the artnet Magazine that has become the "must read" for an ever- expanding cadre of art professionals, collectors and aficionados. Q: And what about the Price Database? Is that profitable for you? A: Yes it is. With well over 3.5 million illustrated lots, the Price Database is the "gold standard" for dealers, collectors and art professionals the world over. Q: How does artnet do in the search engines? A: artnet does brilliantly! In fact, we're usually on the first or second page of Google, Yahoo, MSN and Lycos against any given artist. I would say it's highly unlikely a proprietary site could do as well as we do in the search engines. There's just too much competing content. Q: What would you say to a dealer who has neither a proprietary Web site, nor a site on artnet? Say it's an "either/or" proposition? A: I would say be very clear about what you want to accomplish with your Web site. If you want new collectors, you'll need an audience. At present, artnet boasts the largest serious audience online or off. Q: What if he's looking for a way to communicate only with his existing clientele? A: Then he is still better off on artnet because a proprietary site is much more expensive. Q: But what if a dealer represents artists nobody has ever heard of? A: Well, there are a lot of ways collectors can search for newer work on artnet . . . by medium . . . by style . . . even by color... Q: That said, you would seem to have most of the important dealers on your site at this stage of the game . . . but I've notice you're missing a couple . . . What would you say to Mary Boone if you had the opportunity? A: Well, Mary probably prides herself in an exclusive clientele for whom she does a brilliant job. . . . I guess if I were Mary, I'd want to be damn sure my clients, however exclusive, are not on artnet. I'd want to make sure he or she was not shopping Sol Lewitt at Barbara Krakow or Paula Cooper. If I were Mary Boone, I'd be asking myself if I'm prepared to cede this business. Bill Fine: |
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