ArtEval
“ArtEval” specializes in the valuation of artwork for insurance and lending purposes. ArtEval employs a team of experienced art appraisers and utilizes advanced valuation techniques to provide accurate and reliable assessments of various types of artwork.
Understanding the Need
- The global art market is currently valued at approximately USD 520.05 billion in 2023 and is projected to grow significantly, reaching an estimated USD 889.86 billion by 2032, with a compound annual growth rate (CAGR) of 6.15% during this period. (Source:https://straitsresearch.com/report/art-market)
- Wealth Management has incorporated ‘Art’ as an asset class with a suggested 20% holding in an investment portfolio
- The Art market at present is unorganized and unstructured. With the introduction of a fair and transparent Asset Valuation System, it becomes easy to ascribe values to the assets held by an organization, trust or individual
- Art defies fixed pricing. With the support of algorithms and the Art Sensex, the market will be able to evaluate floating rate prices and predict future investments
- Inducting the usage of cutting edge technology and scientific methods is critical to identify fakes and forgeries, as well as create system for certification