ArtRank aims to quantify the value of artists in the emerging fields of net.art and street art.
The art market is a notoriously messy and unpredictable one, but nevertheless a cash cow for gallery owners and dealers. In the past we have seen platforms such as Artsy make the discovery and purchase of famous and lesser-known works a little bit easier, and now a new service called ArtRank aims to quantify the value of artists in the emerging fields of net.art and street art.
Founded by technology entrepreneur Carlos A Rivera, the site simply places artists into one of three different categories: buy now, sell now or liquidate. The ‘buy now’ artists are those that re just making their name in the art world, and are also split into three recommended investment tiers, ranging from under USD 10,000 up to USD 100,000. The ‘sell now’ artists are those currently at the prime of their power, and the ‘liquidate’ artists are already on the way down. The figures are calculated using a variety of data points, from social media counts, studio capacity and output, gallery representation and auction results.
ArtRank sheds light on a group of new artists for whom the value of their work isn’t currently well understood by outsiders but has the potential to hit growth. Those interested can subscribe for early access to the site once it’s launched. Are there other ways that algorithm-based services could predict the rise and fall of niche or obscure industries?