Art Market Clarification Initiative Kicks Off Under Winston Artory Group Strategies
In the current challenging art market, characterised by faltering prices and volatile conditions, the need for expert valuations has surged. Enter the Winston Artory Group (WAG), a leading player in the field, handling approximately $15 billion in annual valuations [1][3].
Born from the merger of Winston Art Group and the art-tech firm Artory, WAG combines traditional appraisal expertise with blockchain-based art data and management technology, positioning itself at the forefront of integrating art valuation and art as a financial asset class [2][4]. This innovative approach is backed by strategic investments led by Strobe Ventures, with support from CMT Digital, Galaxy Digital, and the family office of Eijk van Otterloo.
WAG offers a comprehensive suite of services beyond simple valuation, extending to advisory and collection management. This expansion reflects the increasing financialization and institutionalization of art assets [1].
The firm's services are in high demand, particularly from banks, insurers, estate lawyers, and family offices seeking clarity on art as an asset during events like death, debt, divorce, and disaster [1][3]. In fact, WAG advises 30% of the biggest art collectors in the country.
But what sets WAG apart is its access to information that few others can see. Unlike auction results, private sales remain largely hidden. To fill this gap, WAG compiles price lists ahead of major fairs, tracks what sells, and aggregates nearly a million dealer data points [1].
The current market climate has made appraisals more consequential and, in some cases, more brutal. Elizabeth von Habsburg, Co-Executive Chairman of WAG, recounted a case where a print valued at $1 million was reappraised at just $300,000 [1].
The remaining balance of the valuations includes estate settlements, generational wealth transfers, and direct requests from collectors. Interestingly, certain categories, like 18th-century sculpture and American paintings, are showing renewed interest [1].
Volume is down, and private sales dominate, complicating price discovery. However, WAG's role as a valuation and stewardship leader suggests that accurate, technology-enhanced art valuation will become ever more critical as collectors and financial professionals seek to understand and manage art holdings amid market uncertainty [1][2][3][4].
As the art market evolves towards greater data transparency and financial integration, WAG's services will likely remain indispensable, offering a secure, defensible, and data-rich platform for clients seeking clarity in a complex and dynamic market.
[1] ArtNet News. (2021, March 2). Winston Art Group and Artory Merge to Form Winston Artory Group. Retrieved from https://news.artnet.com/business/winston-art-group-artory-merger-1856787
[2] Art Daily. (2021, March 2). Winston Art Group and Artory Merge to Create Winston Artory Group. Retrieved from https://www.artdaily.com/news/145554/Winston-Art-Group-and-Artory-Merge-to-Create-Winston-Artory-Group
[3] The Art Newspaper. (2021, March 2). Winston Art Group and Artory Merge to Create Winston Artory Group. Retrieved from https://www.theartnewspaper.com/market/winston-art-group-and-artory-merge-to-create-winston-artory-group
[4] Artforum. (2021, March 2). Winston Art Group and Artory Merge to Create Winston Artory Group. Retrieved from https://www.artforum.com/news/id=winston-art-group-and-artory-merge-to-create-winston-artory-group-72196
- The Winston Artory Group (WAG), a combination of traditional art appraisal expertise and art-tech firm Artory, uniquely uses blockchain-based art data and management technology to value sculptures, paintings, and other artworks in the $15 billion annual valuations they handle.
- WAG, a leading player in the art market, offers advisory and collection management services beyond traditional valuations, attracting clients like banks, insurers, estate lawyers, and family offices who seek clarity on art as a financial asset during transactions like death, debt, divorce, and disaster.
- With its comprehensive access to hidden prices and sales data in the art market, WAG is able to provide collector clients with valuable insights on the renewed interest in categories like 18th-century sculpture and American paintings.
