Widewalls

STARTUP

An online resource and marketplace dedicated to modern and contemporary art

ABOUT

What is Widewalls?

FEATURED NEWS

Widewalls is an online resource and marketplace dedicated to modern and contemporary art.

Our renowned magazine already contains more than 21,000 articles covering all aspects of modern and contemporary art.

There are more than 35,000 artworks to discover or buy on Widewalls, as well as auction results covering 80% of the market over the past 5 years.

Established in 2014, with over half a million visitors per month, Widewalls is already amongst the top 10 online marketplaces dedicated to art.

The Problem

There are more than 20.000 galleries in the world, most of them being small companies with limited resources. Accessing the online art market is expensive and complicated for most of them. The current offering is split between:

A few marketplaces with a business model similar to Widewalls’. However, a monthly subscription to those platforms is very expensive for most galleries and is likely to remain so as those platforms have heavy cost structures.

E-commerce platforms, selling directly to end clients with limited or no involvement of the gallery, which acts only as a provider of inventory and is unable to build its roster of clients through them. They charge an expensive transaction fee (typically 18 to 25% of the selling price), plus generally additional monthly fees.

The Solution: Widewalls, the Dealer-friendly Marketplace

 

With fair pricing and fair practices, and services offered by no other platform, Widewalls is as an efficient complement or alternative to the more dominant players. We are the partner that the traditional art dealer sector needs to access and serve the online market more efficiently.

What makes you different?

Widewalls is run by a gallery owner, for gallery owners. We strongly believe that the traditional art dealer sector needs a platform which is fair financially, and truly help them access the online market more efficiently, without trying to: either cut the middleman (platforms such as ArtFinder or SaatchiArt) or by cutting them off their client base and transforming them into pure inventory provider (most other platforms, such as 1sDibs, Artspace, Artsper, Artsy, Kooness, Artland, etc), with no contact with end client before delivery, and in most cases with an interdiction to use client details to market their inventory directly to those clients.

Widewalls Welcomes Perrotin and 18 Other Top-Tier Galleries Into Its Marketplace

LONDON, July 2, 2019 /PRNewswire/ — Widewalls, the online marketplace and magazine dedicated to modern and contemporary art, is delighted to announce that 19 internationally renowned galleries will shortly join its marketplace, in a collective effort to support the platform’s business model and foster competition in the third-party online marketplace sector.

How to Sell Art Online - 7 Tips for Galleries

Internet is typically cast as the great enemy of traditional culture, an entity often condemned for undermining the music business, the film industry and even publishing. Yet, one form of art seems to be able to adapt, and to perhaps even find a way to thrive in the Internet setting: visual arts, as well as the online galleries and aggregators selling them, are booming online.

In this respect, no other marketplace has a model such as ours, with maybe the exception of Artnet, but a monthly subscription fee with them is expensive for most galleries (3 to 8 times more expensive than ours) and is likely to remain so given their heavy cost structure.

The market

The total art market size is $67bn (2018), growing at a relatively slow pace.

 

The online art market though reached an estimated $4.64 billion in 2018, hitting two digits growth every year in the past 5 years. Art only started to transition online recently, and online art sales are anticipated to keep growing at an average rate of 15% over the coming 5 years.

 

Based on its current growth trajectory, the online art market is expected to be worth $9.32 billion by 2024.
(Hiscox Online Art Trade report 2019)

 

Widewalls is tapping into this market, but will also expand its offering to modern and contemporary design objects (furniture, or else). We can safely assume that this doubles the potential size of our Total Addressable Market.

 

Significant Achievements to Date

An organic traffic of over half a million visitors per month;

A brand new platform designed to allow horizontal and vertical growth, optimized for search engines, with excellent user experience, and easy to maintain. (Delivery : April 2020)

A database of approximately 21,000 original articles on modern and contemporary art, 13,000 biographies of artists, 35,000 artworks to discover and buy on the marketplace, 140,000 artworks documented with recent auction results, and 3,000 gallery profiles. In total, 140,000 pages indexed by Google;

A social media community of 120,000 friends, fans and followers;

11,000 registered users;

600 art professionals benefitting from our « freemium » services;

An efficient cost structure;

Sustainable competitive pricing allowed by this efficient cost structure;

An attractive business model for the sector (subscription based, no transaction fee, transparency of clientele);

A stable and dedicated operational team, based in Serbia.

Image Gallery Widewalls

Widewalls

OFFICES

Widewalls Address

21 Makesdonska
11000 Belgrade (Serbia)

CREATED

UK, 28th July 2017

INVESTMENT ROUNDS

STATUS

Startup, EIS approved

Previous Round

€200,000

LOCATIONS

UK

Do You Have A Question? If you need any more info, you can contact the entrepreneur directly.

Team Widewalls

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