The Money Club funding

MutualArt launches new private sales service with $32mn investment

MutualArt, a source of art market information and manager of the APT (Artist Pension Trust) collection, has announced it has raised $32 mn in funding to launch its new private sales service, with Saul Ingram, former Managing Director of Contemporary Art at Sotheby’s, as Head of Sales.

MutualArt’s new private sales service offers collectors, art advisors, foundations, corporations and institutions exclusive access to artworks from the APT collection – currently comprising nearly 13,000 artworks from 2,000 established and emerging artists in 70 countries – as well as discreet sales of secondary market works.

MutualArt’s experienced private sales team uses the company’s unrivalled online data on the art market – including in-depth performance analysis of 300,000 artists, current market trends and usage data from over 500,000 members registered worldwide – to match artworks with the right buyer and offer support and advice, both online and offline, anywhere in the world.

“With today’s milestone launch of our private sales service and the appointment of Saul Ingram as Head of Sales, MutualArt has entered a new and exciting chapter of the company’s history.” Said Al Brenner, CEO of MutualArt, “We are very grateful for this substantial round of financing from professional investors which allows us to carry out our next phase – the private selling of artworks. The invested capital has allowed us to put together an experienced sales team and give them the tools to use the immense data gathered and analyzed by us over the years to generate sales.”

 

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