MyArtBroker: An introducer service for those who are passionate about contemporary art, MyArtBroker connects people looking to buy and sell art, through an extensive network built over a period of more than 20 years in the industry.
A THRIVING MARKETPLACE FOR CONTEMPORARY FINE ART
MyArtBroker connects people looking to buy and sell art, through an extensive network built over a period of more than 20 years in the industry. The platform is a secondary market service aiming to disrupt the status quo platform through low fees, enhanced service and a more transparent process than that available elsewhere in the market.
With fees starting from just 12.5%, the cost to buyer and seller is much more competitive that those seen in the auction houses. The aim, therefore, is simple: to offer a reliable, curated platform, accessible to everyone, whether you are looking to buy art or sell your collection.
An introducer service for those who are passionate about contemporary art, its defining USP is the integration of its hand-picked, specialist Broker Network. Buyers and sellers who register on the platform are assigned one of its dedicated ‘Art Brokers’, who operate globally in blue chip markets with expertise spanning a broad spectrum of fine art, from Picasso and Matisse through to Warhol, Lichtenstein or Keith Haring.
This expert knowledge, from the catalogue raisonne through to value of works at auction, is the experience MyArtBroker makes accessible to all.
MyArtBroker was founded in 2010 by brothers Ian and Joe Syer after recognising the challenges for individuals when buying or selling art online. Many people turn to the web for works of art, but it can be difficult to navigate and difficult to ensure authenticity of the art, the seller or the buyer.
“MyArtBroker seemed to form and germinate over some time as a concept. We were becoming increasingly aware of the growing trust in the internet, as well as the stories clients told me first hand about issues they faced when trying to resell art work.
We wanted to create a marketplace where buyers and sellers could facilitate transactions, a marketplace that was trusted and which catered to the needs of our audience. With rates and rents making that impossible to do offline, an online platform was not only practical, but also responded to the needs of the market.
Ian Syer, Co-founder and Director
Ian began his career by studying Multimedia Design following a foundation course in Fine Art, a field in which he went on to see many successes. Over the past eleven years, he has managed several booming art dealerships and overseen the recent digital growth and development of MyArtBroker. Alongside his brother, Joe, Ian has focused on the evolution and longevity of the MyArtBroker brand and platform. Joe Syer’s background in the marketing and recruitment industries brings to the table a wealth of experience in client relationship management and strategic partnerships. This joint venture, therefore, unites expertise in contemporary art and business strategy with the tenacity to break in to new, progressive markets and form key relationships.
“We’ve never worked together before and it was fascinating to get to know a sibling as a business partner. There are skill sets you don’t realise they have and also a completely different (often contradictory) approach. But we have always seen eye-to-eye when it comes to the heart of the matter. The aim of MyArtBroker is simple: to offer a reliable, curated platform, accessible to everyone, whether you are looking to buy art or sell your collection. We wanted to demystify the processes around the secondary market, make it simple for anyone to understand, use and have confidence in. ”
“There has been a shift in confidence with online buying. At first we had a much younger audience (sub 30) that would trust buying something of value online, whereas now making large purchases online has become the norm and we deal with a significant number of people from a range of ages.
There has also been a shift in the average weight of sale we see happen, it’s moved from around £500 to £5000, with people spending anything up to £50,000 without first seeing it in the flesh. I think this is testament to our reputation, the quality of our brokers and the simple fact that we live in a digital age.”
Online art sales are on the rise – it is reported that the value of the global online art market has risen from just under $1billion in 2013 to an estimated $2.64 billion in 2015 (Hiscox Online Art Trade Report 2015). Based on this trajectory, taking into account sites such as Auctionata, Paddle8, 1stdibs, Artspace, Artsy, Artuner, and Artfinder, this report estimates the online art business to be worth $6.3 billion in 2019. These developments have been closely followed and adapted by the MyArtBroker over the years.
As online buyers, people can now take advantage of a relaxed browsing and buying experience, rather than the cauldron of an auction which, by its very nature relies on this pressure to achieve maximum sales price. Not restricted to or governed by stock in the way that traditional galleries may be, online platforms such as MyArtBroker are more easily able to react to trends and market changes.
“We are a curated site and look at the demand within our audience, using our extensive network and personal interest to understand what clients are looking for – whether that’s buying or selling. We’d only bring an artist onto the site if we knew it was something our audience would benefit from. We’d then go about securing a specialist broker to build that market and make the introductions. Not holding physical stock at any point allows us the time and energy to be able to ensure we can provide the very best broker expertise to those using our platform for buying or selling – it’s about democratizing the secondary market.”
Buying through MyArtBroker removes many of the risks associated with other online platforms whereby you might not have a dedicated art expert guiding you through the process. Additionally, for certain artworks, rather than having a simple fixed price on works, an attractive prospect is to sell with ‘Price on Application’. The assigned Broker will then work to get the best price for the seller. Furthermore, MyArtBroker’s ‘Wanted Art’ section allows buyers to create an ‘art wanted’ request, visible to both buyers and sellers – they will be the first person contacted should it become available.
Auction houses will always occupy the very upper echelons of the market but given their fee structure but there has been a sharp increase over the last few years of auction private sales. Ultimately, over the next five to ten years MyArtBroker aims to become the trusted global platform for the resale of works under £100,000.
“Working with MyArtBroker as a Broker in their network has been phenomenal! We have done a lot of business together and have complete disclosure and trust with each other. It is a very mutually beneficial relationship and they are one of the first people I contact when I have a great piece of artwork to sell. Despite an 8 hour difference between us, we always make ourselves available to each other – this is one of the most valued business relationships I have.”
Emily Sharbani Hamilton, Founder of Paragon Fine Art (November 2015)
“After inheriting a number of paintings I contacted MyArtBroker in the hope of selling them. Lacking in knowledge and sceptical about selling artwork online, MyArtBroker really put my mind at rest, I was recommended a Broker was really helpful which immediately put me at ease. He always negotiates the best prices and keeps me informed every step of the way. I have sold many paintings through by Broker now and I can confidently say that I would, and do, highly recommend the MyArtBroker referral service to everybody.”
TB, UK (April 2015)
“I have been able to acquire two sculptures through a referral from MyArtBroker in the last 6 months. The client service I have received has been excellent, any queries, emails and calls were answered quickly. Soon after the items arrived, I received courtesy calls from both MyArtBroker and the Broker to ensure I was happy with the sculptures. Both of the sculptures were A+ regards their condition and I would not hesitate to recommend, and return to, MyArtBroker if I were looking to find a piece of art again.”
CS, UK (July 2015)
For further information, interviews or images please contact Tani Burns:
T: 0207 377 5665
M: 07888 731 419