Most of the art market today is in a non-public field. There are only databases of auction sales (secondary market), which do not reflect the real numbers – in most cases, the sale price has a speculative markup, which appeared as a result of bargaining with other collectors.
ARTHERIUM will be the first system to track sales data on the primary art market. It will provide collectors an easy and secure way of purchasing artworks from galleries and art dealers and further collection management with all data securely stored on blockchain.
Between the purchase and sale of artworks, ARTHERIUM will monitor the marketing and sales activity of artists whose works are in the collection to determine how much the collection costs at any given moment. A special ARTHERIUM INDEX ® based on the primary market sales will be introduced to make collectors' decisions more weighted and financially reasoned.
By purchasing an art object on the primary market, collectors will automatically undergo authorization of legitimate owners, which enable them to directly trade P2P among themselves in the framework of the platform. Thus, the platform will help to increase the transparency of the secondary art market by bringing collectors directly, and to exclude numerous intermediaries within a single transaction.