Fintech PR
Artmarket.com: Q3 2024 revenue +13%. Study on AI search engines shows Artprice has the world’s biggest, best and most useful art market database, thanks to its Intuitive Artmarket® AI
News and outlook:
In October 2024, Artprice by Artmarket has reached a new milestone with its Intuitive Artmarket® AI and its positive impact on annual recurring revenue growth.
PARIS, Nov. 14, 2024 /PRNewswire/ — In mid-October 2024, Artprice by Artmarket began providing data trained by its proprietary artificial intelligence (Intuitive Artmarket®) to its high-end subscribers.
Rather than imposing on its 9.3 million customers and members a radical transformation of its databases, which have been the reference in the art world for 27 years, Artprice by Artmarket has judiciously decided to gradually inject proprietary data from its AI into its Artprice databases, without it being specified initially.
This approach allows us to see the reaction of the Artprice customers who were given access to this highly enriched data.
Very quickly, Artprice saw that its Premium subscription containing its AI -enriched data (thanks to its Intuitive Artmarket®) became its annual subscription of choice, with its high-end annual subscriptions ranging from €439 to €769.
Likewise, Artprice noted a significant increase in Average Connection Time (ACT) of its single customer sessions.
Via an educational approach and its expertise in algorithms, deep learning, big-data analysis and its Intuitive Artmarket® AI, Artprice has seen significant growth in turnover as of mid-October as more customers chose the Premium subscriptions. On the other hand the customers showed a strong interest in new data, where the relevance and the richness of these data present a great wealth of information and images never seen before in the art world.
Inspired by Marcel Duchamp and Henri Poincaré work on the infrathin/inframince, Artprice has adopted a highly singular and scientific approach to its Intuitive Artmarket® AI. Artprice is calling this approach Blind Spot AI®.
Artprice’s approach to AI is to avoid fuzzy set theory (aka ‘fuzzy logic’), by using a method based on ‘degrees of truth’ rather than on the usual system based on 1 or 0 Boolean logic. This method searches in Boolean logic, but then delves into ‘related’ but nonetheless relevant connected elements.
Artprice has developed a unique approach to its Intuitive Artmarket® AI that it calls Blind Spot AI®. This revolutionary AI concept created by Artprice, seeks to capture the blind spots between structured data.
In art historical terms, an interesting analogy could be made with the notion of ‘infrathin’, an aesthetic and semi-scientific concept theorized by Marcel Duchamp, designating an imperceptible difference or interval – sometimes only imaginable, but nonetheless real – between two identified phenomena.
Duchamp’s theory was inspired by the famous mathematician Henri Poincaré whose book “Science and Hypothesis” is a work on the importance of models in science. It is also possible that this work inspired Einstein in his founding article on the theory of special relativity, published in 1905.
For the world’s major database publishers, there is no room for error, and the relationship of trust established with customer-users cannot tolerate approximate or erroneous data.
Artprice is demonstrating that it is possible to deliver unexplored data with its proprietary AI and its ‘Blind Spot AI ®‘ method without undermining the trust capital that has been built up over 27 years and is based on the provision of incontestable, reliable, exhaustive and long-lasting data. This data is of course essential to Artprice clients who are art experts/valuers, auctioneers/auction houses, art dealers, gallerists, institutions, museums, insurance companies, private bankers, financial services providers, asset managers and of course art collectors.
This loyal and recurring Artprice clientele cannot tolerate the slightest error, in part, because of the financial stakes involved in artworks that can very quickly reach considerable pecuniary values.
In its October 2024 beta test, Artprice by Artmarket brought back evidence that, having stabilized the “alignment problem” – which is essential to the successful genesis and subsequent construction of its Intuitive Artmarket® AI – the high value-added data produced by its Intuitive Artmarket® AI respects the ethics, values, expectations and human sensibilities specific to the Artprice by Artmarket group, its customers and the intangible, multi-centenary rules of the Art Market.
Artprice by Artmarket has been gradually stabilizing the question of ‘alignment’ for almost 20 years. This work has been essential for the successful genesis and construction, of our Intuitive Artmarket® AI.
What Makes the Best AI Search Engine?
Traditional search engines rely on algorithms that combine things like keyword relevance, how often a page is referenced on other websites, content quality, degree of user interaction with the page, and page loading speed. During a search, the search engine gives the answer that it considers the most useful and relevant. Unfortunately, searches are increasingly encumbered by sponsored links, making searches more and more tedious on traditional search engines.
An AI search engine goes much further. It still uses this basic system, but instead of showing a list of pages, it answers the question itself in natural language. It passes the information it collects to the AI model it uses, which then summarizes it in a few highly relevant paragraphs, usually citing its sources to respect intellectual property. AI’s ability to understand natural language means it can interpret questions very well, even without the use of certain keywords.
For the user, from a ‘user-experience’ (UX Design) perspective, the classic search process (without AI) remains the same for the first half of the process. The search query must always be entered in an empty input bar, except that the search engine tries to produce an answer, with different ranks. If the proposals are not satisfactory, you simply scroll down the page and continue to visit certain links proposed. In some cases, the user ends up with an impressive number of tabs and must select different data to arrive at a summary. This type of search is extremely time-consuming and inefficient.
Artprice by Artmarket has tested different AI search engines with the aim of improving traditional searches. Various studies around the world have revealed, among AI experts, an almost unanimous consensus designating Perplexity.ai as the best AI search engine to date.
Jensen Huang, CEO of NVIDIA, world leader in computing and artificial intelligence, says that he uses Perplexity.ai on a daily basis.
Perplexity is a search engine designed entirely with AI. It replaces conventional URL links with a Chabot-type interface and allows you to interact with search results. Many AI specialists have confirmed that they use Perplexity.ai as their first choice because of the quality of its responses.
During a query, a text box allows you to ask an additional question under the generated answer. There is no longer any need to repeat the details entered initially: as Perplexity remembers the context, you simply need to ask it another question on the subject.
Another handy feature of Perplexity’s conversational layout is that it can browse previous search threads and even save collections of pages (for the purpose of organizing your searches) with bookmarks.
In its extensive study of Perplexity, Artprice by Artmarket finds that its strengths are a combination of trust signals from Google, Bing and its internal bots that crawl the Internet. Perplexity uses them to determine which sources are the most reliable. Perplexity undoubtedly obtains much more accurate data than other AI search engines. According to Artprice, Perplexity goes well beyond simple structured searches. It uses cutting-edge language models like GPT-4 (Open AI), Omni, and Claude 3 to understand the context and nuances of queries.
Furthermore, during Artprice by Artmarket’s in-depth tests, Perplexity’s generative AI algorithms never delivered fictitious, erroneous or obsolete information.
Artprice by Artmarket asked the question: what is the best database on the Art Market? Here’s an excerpt from Perplexity.ai’s 9-page response:
“Artprice is widely considered the reference database for the global art market.
Here are the main reasons that make it an essential tool:
Comprehensive coverage
Artprice offers an extremely comprehensive database, including:
30 million auction results
Information on more than 700,000 artists
Data covering 70 countries
A history dating back to the 17th century
This exceptional coverage makes it the most comprehensive source of information on the art market.
International recognition
A study carried out in 2024 among art market professionals revealed that Artprice was cited first by 86% of those involved as their reference database. This demonstrates its dominant position and notoriety in the sector.
Advanced Features
Beyond simple sales results, Artprice offers numerous analysis tools:
Price indices and evolution of the value of artists
Rankings and market barometers
Access to more than 36,000 artist signatures and monograms
Technological innovation
Artprice constantly invests in innovation, particularly with the development of its proprietary artificial intelligence, Intuitive Artmarket®. This makes it possible to analyze market trends and anticipate price fluctuations.”…
Perplexity.ai’s 9-page Q&A on Artprice details all of Artprice’s products, services and R&D, where all of the most sensitive and complex information, including on its proprietary Intuitive Artmarket® AI, proved to be extremely accurate with 100% truthful and up-to-date information.
Consult the 9 pages of Perplexity.ai’s presentation of Artprice by Artmarket in PDF mode, as certified by a judicial officer (huissier de justice), Maître Pons (10 pages): https://ftp1.serveur.com/perplexity_quelle_est_la_meilleure_base_de_donnees_sur_le_marche_de_l_art_constat_huissier.pdf
View them in Mp4 video mode: https://ftp1.serveur.com/perplexity_quelle_est_la_meilleure_base_de_donnees_sur_le_marche_de_l_art.mp4
This shows that Artprice by Artmarket is not only recognized as the world leader in art market databases, but also as the reference proprietary AI in the very demanding field of art market data.
Does the future of search engines necessarily mean the planned obsolescence of traditional search engines?
According to Gartner Inc., in its report Predicts 2024: How GenAI Will Reshape Tech Marketing, GenAI (generative AI) is profoundly changing the search habits of both Internet users and businesses.
The famous consulting firm has estimated that the impact is indeed impressive, to the point of reducing traffic on current internet search engines by 25 to 30% by 2026.
Several high quality studies even predict a drop in traffic of 40 to 50% as of mid-2025, to the point of jeopardizing the interests, economic logic and activity of all companies whose strategy is based on SEO (Search Engine Optimization).
Today, nearly 90% of Alphabet’s (Google’s parent company) revenue comes from advertising revenue, itself mainly generated by the search engine’s audience…
The big search engines must reinvent themselves to avoid disappearing. After Microsoft with Bing Search and its AI, Google has had to evolve Google Search by introducing its SGE experience (Search Generative Experience) boosted with GenAI.
In addition, new players are emerging, whose search experience is entirely focused on the potential of generative AI, like Perplexity.ai, which is, to date, undoubtedly the benchmark in terms of AI search engines.
Government regulations around the world are already holding companies accountable for intellectual property as they begin to require identification of AI-created editorial content. This will undoubtedly play a major role in how search engines present this digital content.
Artprice by Artmarket has already integrated the various regulations into its R&D, its services and products, including its proprietary AI Intuitive Artmarket®. These regulations are:
REGULATION (EU) 2024/1689 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 June 2024 establishing harmonized rules on artificial intelligence and amending Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) no 168/2013, (EU) 2018/858, (EU) 2018/1139 and (EU) 2019/2144 and Directives 2014/90/EU, (EU) 2016/797 and (EU) 2020/1828 (Regulation on ‘artificial intelligence’)
How Artprice by Artmarket is already omnipresent on AI search engines thanks to its R&D and SGE experience (Search Generative Experience)
Using its databases, its Intuitive Artmarket® AI and its SEO department, Artprice by Artmarket’s Research & Development is currently producing a new proprietary SGE (Search Generative Experience) process in order to create semantic and a generative syntax consisting of a base that provides the deep structures.
This is a real challenge for large groups who have built their business exclusively on the Internet and who do not have the extremely complex expertise of SGE and Artificial Intelligence. Inevitably, they will see their turnover plunge from 2025 and the purchase of advertising spaces or sponsored links will not make up for the shortfall, and may possibly deteriorate their situation.
Artprice’s new proprietary SGE process allows for an optimal presence including, for each AI search engine, a complete tree structure that can handle potentially infinite question & answer dialogues in entirely natural language.
Today’s reference SE, Perplexity.ai, provides a striking example. Artprice by Artmarket already works contractually with AI search engines that will provide access to Artprice’s remastered databases through its Intuitive Artmarket® AI, resulting in its omnipresence on the art market. While respecting the application in 2025 of the AI Act (or RIA European regulation J.O. July 12, 2024 on AI), Artprice predicts a spectacular acceleration of its future Intuitive Artmarket® subscriptions at €990/year (€82.50/month), with additional options planned as the tool evolves.
Drawing on the experience of its parent company Serveur Group (an Internet pioneer since 1987), Artprice by Artmarket.com has over the decades developed thousands of increasingly powerful and relevant proprietary algorithms with more than 180 vector meta-databases that allow the implementation of its own artificial intelligence in strict compliance with various legislative frameworks, notably those relating to personal data and intellectual property.
The three cornerstones of Artificial Intelligence are data, computing power and algorithms. The more massive and high-quality the data is (standardized Big Data), the more ‘intelligent’ become the models it is used to train, which is exactly our ‘DNA’ – because Artprice by Artmarket masters both the computer science of programming and the computer science of induction which defines our proprietary algorithmic AI, Intuitive Artmarket®.
In addition, Artprice by Artmarket has twice consecutively obtained the state label “Innovative Company” awarded by France’s Public Investment Bank (BPI), and is pursuing its ambitions in this direction.
For information, ChatGPT, which is to date the world reference in Artificial Intelligence, devotes a significant amount of information to Intuitive Artmarket® which it considers to be the reference in artificial intelligence on the art market in terms of innovation, algorithms, predictive analysis and relevance. This information regarding our Intuitive Artmarket® is of course highly significant in the AI world. The same goes for Gemini.google.com (Google Bard) as well as around ten other AIs (You.com, Phind, etc.) which also confirm Artprice by Artmarket as essential.
The development of our Intuitive Artmarket® was only possible through the targeted acquisition by Groupe Serveur (then by Artprice) of innovative companies such as Xylogic, a Swiss company made up exclusively of prestigious scientists (from CERN, WHO…) back in 1999, who were considerably ahead of their time and were already heralding the solid beginnings and fundamentals of Artificial Intelligence (see Artmarket.com reference document).
In the intimate world of major global professional database publishers, it is vital for the long-term development of our industry that we integrate proprietary AI into our core businesses, which is why Artprice by Armarket has acquired a substantial head start in this domain since 1999 and made 2025/2027 the key period for the commercial launch of subscriptions for its Intuitive Artmarket®.
How is the explosion of artificial intelligence disrupting today’s world and particularly the art market? How to measure it?
thierry Ehrmann Founder of Artprice and CEO of Artmarket:
“We live in a world where computing power doubles every six months. The traditional law of Gordon Moore, founder of Intel (which said that the number of transistors on a chip doubled every eighteen months at the same price) has been overtaken by a new scale. From now on, the acceleration of generative AI could be measured by a formula that I call “token per Euro and per watt“, that is to say a new unit of measurement corresponding to the way in which AI processes a request for information taking into account each euro spent and each watt actually consumed.
With humility, we should not forget that the human brain’s capacity for language processing is starting to be well imitated by AI, although that for mathematics and geometry remains largely misunderstood. But overall, from a scientific perspective, seen as an integrated circuit, the human brain remains to this day inimitable. Even if we are beginning to understand its algorithms and reproduce them in very high capacity servers with several hundred billion parameters, we still cannot reproduce its capacity with the same energy efficiency. Where the human brain weighs 1.4kg and operates with only 30 watts, the AI giants in the USA are racing towards nuclear power plants and gigantic hydro-electric power plants… Indeed, Microsoft is relaunching the Three Mile Island nuclear power plant in the state of Pennsylvania in the USA. Meanwhile, the human brain, with its capacity for imagination and creativity, remains unbeatable by my formula of AI measurement, the “token per Euro and per watt”.
Future events: Intuitive Artmarket® AI – evolution and development
As discussed in previous press releases, during the first half of 2024, Artprice by Artmarket’s AI department was very attentive to the phenomenon known as “grokking”, used in particular by Open AI engineers. Artprice has noted that the type of algorithm which serves as the basis for its Intuitive Artmarket® model seems to obey the same logic, namely that if deep learning is extended over a long period of time, without modifying the algorithms, we observe an excellent response rate but it seems to stagnate at a logarithmic rate.
However by persisting over tens of thousands of sessions, we observed at a particular moment that the quality of the results increases spectacularly. The term ‘grokking’ comes from the famous science fiction novel by Robert Heinlein “Stranger in a Strange Land” published in 1961. It refers to the fact of intuitive understanding, and therefore is similar in meaning to ‘guessing’, ‘getting it’, or just ‘understanding’.
For Artprice, this concept can be brought closer to critical phenomena in statistical physics when there are phase transitions. The state of matter physically changes depending on the variable. For example, in physical systems like gasses or liquids, there are variables like pressure, temperature and/or volume.
It is up to you to search the Intuitive Artmarket® language models for these relevant variables to make this transition. Knowledge of these variables can prove formidable in terms of relevance with economical control of the necessary computing power, however impressive it may be.
So, with its Intuitive Artmarket® AI, Artprice will augment its art market research and results tenfold over the coming years to an unprecedented level for its clients and members, and will offer new services and products that will generate more sophisticated subscriptions with an increase in annual recurring revenue (ARR).
According to the French business services platform Les Échos/Solutions (quoting DOMO Inc.), in the services sector, an important index that makes it possible to score the ability of a company to integrate AI into its processes is the processing of data per second per employee.
The average is a generation of 1.7MB of data/second.
After an IT audit of Mazars, Artprice by Artmarket was able to see for itself that each of its employees generates 35MB/second, or 21 times more than the European average, which is perfectly consistent with Artprice’s core business as a major global publisher of professional databases and proprietary algorithms and World Leader in Art Market Information.
In sum, while Intuitive Artmarket® AI may seem like a ‘cultural revolution’ with a new set of terms and language elements, the AI processes and tools that underlie its functioning were already being used at the core of Artprice by Artmarket’s systems. Today, via new semantics, Artprice’s clients and partners are discovering the unexplored riches of Artprice, namely data of a magnitude they could not have imagined, and data that is perfectly aligned with their needs.
It should also be noted that investors are looking for serious projects with a solid background in Artificial Intelligence on both sides of the Atlantic.
Our algorithms harness billions of anonymised proprietary logs, text data, and tens of millions of artworks from Artprice’s databases to identify new semantics encapsulating an artist’s primary approach, his/her universe, inspirations, mediums, themes, forms, volumes, etc.
This invaluable data forms a synergy, enriching the understanding of over 845,000 referenced artists with their certified biographies and data. It goes beyond conventional visual criteria thanks to the neural networks of the Intuitive Artmarket® AI.
Intuitive Artmarket® can already calculate the values of artworks based on an analysis of traceability and past auction results over time, a pricing technique that was already specific to Artprice.
But it can now also anticipate future fluctuations, including for totally unique works, which in turn means that it can identify highly complex transversal artistic trends which largely escape academics, curators and dealers.
Intuitive Artmarket® AI algorithms can help art galleries and auction houses set optimal prices for artworks based on various factors such as demand, rarity, and public awareness of the artist. In short, Intuitive Artmarket® AI has the potential to revolutionize the art market by improving access to information, personalizing the buyer experience, reducing the counterfeit risk and opening up new creative perspectives.
Our Intuitive Artmarket® AI draws exclusively on an almost infinite range of proprietary content that enjoys intellectual property protection. This fact alone avoids a large number of obstacles and potential prohibitions because it means we have no need to look elsewhere for data and/or responses to very specific requests from users.
Our proprietary AI is therefore not just a guarantee of our economic sustainability; it will generate a considerable long-term increase in revenue for Artprice by Artmarket.com through high added-value subscriptions.
Over the last two decades Artprice has recorded, observed and induced hundreds of millions of human decisions in relation to the art market. This market is of course infinitely complex due to the heterogeneous and singular nature of art on the one hand, and the abstract notion of beauty at the limits of human emotion on the other.
Algorithmic learning has allowed Artprice to create a unique art-market specific AI model that will constitute Artprice by Artmarket’s 2024/2029 growth driver.
95% of the S&P 500 groups are planning to base their future growth on Artificial Intelligence.
According to the best Anglo-Saxon financial analysts, who are one step ahead of Europe on this subject, the only economically viable model – i.e. one that does not expose the economic entity (whatever its size) to incessant legal proceedings – is an AI focused on an extremely well-defined economic segment.
The economic sector must have information which plays an absolutely vital role, full intellectual property of all the Big Data (including Data Mining) of the copyrights and related rights confirmed on all algorithms, databases, with machine learning (deep learning) and neural networks.
In short, the AIs that will triumph with very substantial economic gain and without major industrial or legal risk are the economic entities which own, in full intellectual property, all of the different stages of the proprietary AI in a defined market segment where expensive high value-added information plays a vital role. And this is exactly the case of our Intuitive Artmarket® AI developed by Artprice by Artmarket.com, World Leader in Art Market Information.
Artprice’s Intuitive Artmarket® AI is entirely in line with this postulate.
Having added Ethereum and Bitcoin in 2022 to its multi-currency Artprice databases (in response to customer demand and in preparation for its near future in Web 3.0), Artprice will benefit from the rise of BTC and of ETH in 2024.
Since its creation in 1997, Artprice by Artmarket has always predicted trends and paradigm shifts in the art market. It has often preceded them, announcing well before everyone else that the secondary art market would move towards online sales.
With cryptocurrencies, Art NFTs and the Metaverse, new collectors and art enthusiasts, often younger than their predecessors, have joined the market. There are now more than 450 million potential buyers of Art NFTs on five continents. Fond of speculation and not averse to risk, these art enthusiasts and collectors are extremely attached to their Web 3.0. crypto-universe.
New clients for Artmarket.com, whose services they have frequently requested, it was this community that prompted us to add ETH and BTC to the currencies that Artprice databases use to quote auction prices.
This huge global community could not understand that Artprice data banks only quoted prices in the main currencies of the world without the two main cryptocurrencies ETH and BTC (which account for more than 91% of the value of the roughly 25,700 known cryptocurrencies, excluding stablecoins).
Artprice by Artmarket’s IT, econometric and marketing teams have therefore mobilized at breakneck speed on this ambitious project in order to ‘capture’ the 450 million potential buyers of art NFTs.
After studying the question at great length and then committing to a huge volume of work, Artmarket.com has once again taken a significant step, by offering, as of today, 8,828,384 auction results for artworks quoted in Bitcoin, going back to 1 February 2011 (with 1 Bitcoin at $0.7, £0.434031 and €0.50707), and, then 5,814,866 auction results in Ethereum, starting on 7 August 2015 (with 1 Ethereum at $3, £1.93626 and €2.735523).
Naturally, these tens of millions of calculations were made using the values of the cryptocurrencies on the day of each sale, with the historical indexing performed by Artmarket.com’s extremely powerful computing facilities.
And today, in November 2024, among the 11 international currencies managed by Artprice, the most searched currency on its databases, after the Dollar and the Euro, is Bitcoin, with the Pound Sterling being relegated to fourth place.
Two years after Artprice’s bold decision and its titanic project to introduce the main cryptocurrencies into all its databases, David Wagner’s article in Investing.com on 12 November 2024 salutes the wisdom of this choice.
“The capitalization of the cryptocurrency market reached a new historic record of $3,120 billion on Monday, more than France’s GDP!
Bitcoin’s record at nearly $90,000 has a lot to do with it, the first cryptocurrency to have reached a capitalization of $1,750 billion, or around 60% of the total digital asset market.
Recall that the last time the total cryptocurrency market capitalization reached $3 trillion was on November 15, 2021, shortly after bitcoin hit its previous all-time high of $69,000 in the bull market of 2020-2021.
The market cap of the crypto market is now greater than that of giants such as NVIDIA (NASDAQ:NVDA), Apple (NASDAQ:AAPL) or Microsoft (NASDAQ:MSFT), and has already surpassed that of Amazon (NASDAQ:AMZN) and of Alphabet (NASDAQ:GOOGL).
Bitcoin has also become the 8th most important asset in the world, overtaking Silver, and following behind Saudi Aramco (TADAWUL:2222). For comparison, we note that Ethereum, the second largest cryptocurrency in the world, is only the 28th largest asset in the world by capitalization, ahead of Procter & Gamble, Johnson & Johnson, and Bank of America (NYSE :BAC). »
Copyright 1987-2024 thierry Ehrmann www.artprice.com – www.artmarket.com
Artprice’s econometrics department can answer all your questions relating to personalized statistics and analyses: [email protected]
Find out more about our services with the artist in a free demonstration: https://artprice.com/demo
Our services: https://artprice.com/subscription
About Artmarket.com:
Artmarket.com is listed on Eurolist by Euronext Paris. The latest TPI analysis includes more than 18,000 individual shareholders excluding foreign shareholders, companies, banks, FCPs, UCITS: Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.
Watch a video about Artmarket.com and its Artprice department: https://artprice.com/video
Artmarket and its Artprice department were founded in 1997 by thierry Ehrmann, the company’s CEO. They are controlled by Groupe Serveur (created in 1987). cf. the certified biography from Who’s Who In France©:
https://imgpublic.artprice.com/img/wp/sites/11/2024/02/2024_Biographie_thierry_Ehrmann_WhosWhoInFrance.pdf
Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information (the original documentary archives, codex manuscripts, annotated books and auction catalogs acquired over the years) in databanks containing over 30 million indices and auction results, covering more than 855,800 artists.
Artprice Images® allows unlimited access to the largest art market image bank in the world with no less than 181 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.
Artmarket, with its Artprice department, constantly enriches its databases from 7,200 auction houses and continuously publishes art market trends for the main agencies and press titles in the world in 119 countries and 9 languages.
https://www.prnewswire.com/news-releases/artmarketcom-artprice-and-cision-extend-their-alliance-to-119-countries-to-become-the-worlds-leading-press-agency-dedicated-to-the-art-market-nfts-and-the-metaverse-301431845.html
Artmarket.com makes available to its 9.3 million members (members log in) the advertisements posted by its Members, who now constitute the first global Standardized Marketplace® for buying and selling artworks at fixed or auction prices (auctions regulated by paragraphs 2 and 3 of Article L321.3 of France’s Commercial Code).
There is now a future for the Art Market with Artprice’s Intuitive Artmarket® AI.
Artmarket, with its Artprice department, has twice been awarded the State label “Innovative Company” by the French Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market.
Artprice by Artmarket publishes its 2024 Contemporary Art Market Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2024
See our 2023 Global Art Market Annual Report, published in March 2024 by Artprice by Artmarket: https://www.artprice.com/artprice-reports/the-art-market-in-2023
Summary of Artmarket press releases with its Artprice department: https://serveur.serveur.com/artmarket/press-release/en/
Follow all the Art Market news in real-time with Artmarket and its Artprice department on Facebook and Twitter:
www.facebook.com/artpricedotcom/ (more than 6.5 million subscribers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom
Discover the alchemy and the universe of Artmarket and its Artprice department: https://www.artprice.com/video
whose head office is the famous Museum of Contemporary Art Abode of Chaos dixit The New York Times / La Demeure of Chaos:
https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
La Demeure du Chaos/Abode of Chaos – Total Work of Art and Singular Architecture.
Confidential bilingual work, now made public: https://ftp1.serveur.com/abodeofchaos_singular_architecture.pdf
- L’Obs – The Museum of the Future: https://youtu.be/29LXBPJrs-o
- https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (more than 4.1 million subscribers)
- https://vimeo.com/124643720
Logo: https://mma.prnewswire.com/media/2260897/Artmarket_logo.jpg
Contact Artmarket.com and its Artprice department – Contact: [email protected]
Fintech PR
Noble Corporation plc announces submission of request for removal from trading and official listing on Nasdaq Copenhagen
SUGAR LAND, Texas, Nov. 14, 2024 /PRNewswire/ — Noble Corporation plc (“Noble“, the “Company“) (NYSE: NE, CSE: NOBLE) announces that today, Noble has submitted a request for the voluntary removal of its shares (in the form of share entitlements) (the “Danish Shares“) from trading and official listing on Nasdaq Copenhagen A/S (“Nasdaq Copenhagen“) (the “Delisting“) pursuant to Rule 22(ii) of Supplement A of the Nordic Main Market Rulebook for Issuers of Shares. If Nasdaq Copenhagen accepts the request for voluntary delisting, Noble expects the Delisting to occur by mid-December 2024.
The request for the Delisting will not affect Noble’s listing on the New York Stock Exchange and Noble will remain traded on the New York Stock Exchange as Noble’s primary listing exchange.
Background for applying for the Delisting
As described in Noble’s company announcement of July 18, 2024, following a comprehensive review, Noble believes that the trading volume of its Danish Shares on Nasdaq Copenhagen no longer justifies the expense and administrative requirements associated with maintaining this dual listing. Noble’s primary listing on the New York Stock Exchange provides its shareholders with sufficient liquidity, as the New York Stock Exchange accounts for approximately 99% of its trading volume. The substantial savings in exchange fees, legal fees, and managerial time and effort to maintain a dual listing can be redirected to initiatives intended to generate shareholder value.
Consequently, the board of directors of Noble has resolved to request Nasdaq Copenhagen for a Delisting of Noble.
Possible courses of action for holders of Noble’s Danish Shares
Provided that Noble’s request for Delisting is accommodated, holders of Danish Shares may:
- Dispose of their Danish Shares on Nasdaq Copenhagen before the Delisting is effective; or
- Convert their Danish Shares to an equivalent number of Noble shares tradeable on the New York Stock Exchange (“Noble NYSE Shares“).
Alternatively, holders of Danish Shares may do nothing but will hold an illiquid asset following the Delisting.
Disposal of Danish Shares before the Delisting is effective
Following receipt of the expected approval of Noble’s Delisting, the Danish Shares will remain tradeable on Nasdaq Copenhagen for a period of approximately 4 weeks. As such, it will be possible to dispose of the Danish Shares on Nasdaq Copenhagen within the trading period.
Conversion of Danish Shares to Noble NYSE Shares
If holders of Danish Shares want to continue to own publicly tradeable Noble shares after the Delisting, the shareholder must convert its Danish Shares into Noble NYSE Shares either before or after the Delisting.
To convert Danish Shares to Noble NYSE Shares, the holder of Danish Shares must instruct its financial intermediary (bank or broker) to contact Euronext Securities Copenhagen (Noble’s Danish transfer agent). The procedure for converting Danish Shares into Noble NYSE Shares may take several trading days.
To receive Noble NYSE Shares, the shareholder must be able to take delivery of shares issued through The Depository Trust Company (“DTC“). This requires access to a U.S. securities account.
Furthermore, holders of Danish Shares should contact their financial intermediary (bank or broker) about handling fees for the conversion of Danish Shares into Noble NYSE Shares and costs associated with holding shares in DTC and trading on the New York Stock Exchange. Any such costs may be borne by the individual shareholder. Noble currently pays ‘safe keeping’ fees for holders who hold Danish Shares and will continue to do so only until the anticipated Delisting, at which time any holders of Danish Shares who have not converted their Danish Shares into Noble NYSE Shares or disposed of their Danish Shares shall be responsible for these fees on their unlisted Danish Shares.
Holders of Danish Shares should contact their financial intermediary (bank or broker) to assist with any conversion and to answer any questions on process or fees.
Retaining Danish Shares as unlisted securities
Following the Delisting, any Danish Shares not sold or converted will cease to be admitted to trading and official listing on Nasdaq Copenhagen (or any stock exchange). As such, shareholders holding Danish Shares will have an illiquid asset and will most likely need to convert their Danish Shares into Noble NYSE Shares (see above) if and when they wish to sell their shares. A shareholder holding Danish Shares will continue to be able to convert their Danish Shares into Noble NYSE Shares after the Delisting, subject to certain fees.
Certain financial intermediaries (banks or brokers) may have policies regarding shares that are delisted and may require conversion from Danish Shares into Noble NYSE Shares. Please contact your financial intermediary, bank, broker or financial adviser for assistance.
Changes for shareholders holding Danish Shares
Shareholder rights
The ordinary shareholder rights associated with holding Danish Shares will remain unchanged following the Delisting. Consequently, if shareholders holding Danish Shares choose to retain their Danish Shares after the Delisting is effective, they will retain the same shareholder rights as prior to the Delisting, i.e., the right to vote at general meetings and receive dividends, etc. The Danish Shares will continue to be registered in Euronext Securities Copenhagen.
In addition, the shareholder rights, including entitlements to dividends and voting rights, associated with holding Noble NYSE Shares are the same as those associated with the holding Danish Shares. However, whereas the Danish Shares are eligible to receive dividends in DKK and while still admitted to trading and official listing on Nasdaq Copenhagen are traded in DKK, the Noble NYSE Shares are traded in USD and are eligible to receive dividends in USD.
Disclosure requirements
Shareholders holding Danish Shares should be advised that subsequent to the Delisting becoming effective, the shares of Noble will not be subject to the disclosure requirements applicable for companies with shares admitted to trading and official listing on Nasdaq Copenhagen. However, Noble will through its the primary listing of its shares on the New York Stock Exchange remain subject to the extensive disclosure requirements under U.S. securities laws and the rules and regulations of the New York Stock Exchange.
Tax consequences
The shareholders holding Danish Shares are treated as owning listed shares for Danish tax purposes.
The Delisting should not have any adverse Danish tax impact on Danish tax residents who choose to convert their Danish Shares and thus after the Delisting will hold Noble NYSE Shares.
The shareholders holding Danish Shares who choose to dispose of their Danish Shares will be taxed as a sale of listed shares.
The above assessments should apply to all Danish shareholders holding Danish Shares, regardless of whether they are individuals or corporate entities. Non-Danish shareholders are generally not taxable on a sale of Danish listed shares.
The shareholders holding Danish Shares that do not sell or convert their Danish Shares, and thus retain their Danish Shares after the Delisting, are expected to continue to own listed shares for Danish tax purposes. A binding ruling has been sought to confirm this expectation, but at the time of this announcement, no final ruling has yet been issued by the Danish tax authorities. If the Danish Shares are deemed to be unlisted for Danish tax purposes after the Delisting, the Delisting itself may trigger taxation for certain Danish tax resident individuals.
Noble does not provide tax or legal advice and the above information is informational only. Please note that as each holder of Danish Shares’ circumstances may differ, Noble encourages each holder of Danish Shares to consult with their own tax and/or financial adviser.
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. For further information visit www.noblecorp.com or email [email protected].
IMPORTANT INFORMATION
This announcement is for information purposes only and does not constitute or contain any invitation, solicitation, recommendation, offer or advice to any person to subscribe for or otherwise acquire or dispose of any securities of Noble.
Certain statements in this announcement, including any attachments hereto, may constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Noble and its subsidiaries (collectively, the “Noble Group“). The words “targets”, “believes”, “continues”, “expects”, “aims”, “intends”, “plans”, “seeks”, “will”, “may”, “might”, “anticipates”, “would”, “could”, “should”, “estimates”, “projects”, “potentially” or similar expressions or the negatives thereof, identify certain of these forward-looking statements. The absence of these words, however, does not mean that the statements are not forward-looking. Other forward-looking statements can be identified in the context in which the statements are made.
Although Noble believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this announcement, such forward-looking statements are based on Noble’s current expectations, estimates, forecasts, assumptions and projections about the particular events in question.
Any forward-looking statements included in this announcement, including any attachment hereto, speak only as of today. Noble does not intend, and does not assume, any obligations to update any forward-looking statements contained herein, except as may be required by law or the rules of the New York Stock Exchange or Nasdaq Copenhagen. All subsequent written and oral forward-looking statements attributable to Noble or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained in this announcement, including any attachment hereto.
View original content:https://www.prnewswire.co.uk/news-releases/noble-corporation-plc-announces-submission-of-request-for-removal-from-trading-and-official-listing-on-nasdaq-copenhagen-302306031.html
Fintech PR
UN International Procurement Seminar Held in Asia for the First Time: A Collaborative Initiative Between the UN and Ningbo
NINGBO, China, Nov. 14, 2024 /PRNewswire/ — On November 13, the 2024 United Nations International Procurement Seminar (IPS) commenced in Ningbo, marking the first time this authoritative, high-profile and professional conference has been held in Asia. The event brought together 50 senior procurement officials and representatives from 16 UN agencies, alongside over 200 supplier representatives from both domestic and international markets.
The selection of Ningbo as the venue prompts the question of why the UN chose Asia, and specifically China, for this significant event. A representative from the UN Development Programme (UNDP) office in China encapsulated the sentiment with the phrase “mutual engagement.”
In recent years, the total value of UN procurement has steadily climbed, reaching as high as $29.6 billion. Traditionally, the IPS has been held primarily in Europe three times a year. As the UN seeks to innovate its procurement methods and achieve sustainable development goals, it has increasingly turned its attention to China.
“China has a diverse industrial landscape, offering high-quality products and services at competitive prices. By increasing its procurement of Chinese goods, the UN can enhance the efficiency of its funding use, allowing more developing countries to benefit from UN development aid projects. This aligns with our mutual interests,” noted an official from the Ministry of Commerce’s Department of International Trade and Economic Relations.
Ningbo has consistently emphasized the importance of UN procurement, organizing various initiatives for local enterprises to engage in UN procurement activities in recent years. In September last year, the city hosted the China (Ningbo) UN Procurement Promotion Conference, helping nearly 110 companies successfully register on the official United Nations Global Marketplace (UNGM) website.
Following this event, the UNDP office in China expressed gratitude, recognizing Ningbo’s thriving manufacturing and foreign trade service sectors as having substantial potential to provide innovative solutions for UN procurement. “Ningbo serves as both a catalyst and a bridge, linking China with the world and the UN,” stated Neris M. Baez, Director of the UN Secretariat Procurement Division.
The UN procurement system offers several advantages, including duty exemptions, low exchange rate risks, market stability, and avoidance of trade barriers. These factors can assist in opening markets in countries and regions involved in the Belt and Road Initiative, generating potential benefits and spillover effects.
“China possesses a comprehensive and robust industrial and supply chain and is a globally influential logistics hub. However, we currently lack the necessary channels to connect with international high standards. The key to expanding institutional openness lies in mastering international high-standard trade regulations,” emphasized a representative from the Ningbo Committee of the China Council for the Promotion of International Trade.
If this seminar enables participants to become familiar with international high-standard trade regulations, it could establish a robust support system for engaging in UN procurement. This would create new opportunities in the international public procurement sector, empowering enterprises to secure more international orders through the UNGM website. From this perspective, the seminar represents an important “icebreaking journey.”
Contact: Sun Jiali
Tel.: 0086-18069269225
E-mail: [email protected]
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Fintech PR
Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals
DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.
The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.
Sustainable Innovation Summit: A Hackathon for Social Impact
Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.
Rising Stars
In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.
Winners for the 17 SDGs Challenge:
- 1st Place: Grand Social Impact Award 🥇 EthicHub
- 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
- 3rd Place: Emerging Impact Award 🥉 ResearchHub
Rising Star Awards (top 10 projects, in no specific order):
- Wavy Health
- LAKE (LAK3)
- KulaDAO
- erable°
- arkreen
- UCO Network
- Edu3Labs
Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good
Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.
Each category highlights individual efforts aligning with BGA’s mission.
The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:
- Harn, CEO of Trigger Asset Management
- Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting
The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:
- BreeAnne Yek, Consultant at The Verdant Room
- Milica Dimitrijevic from Positiveblockchain.io
These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.
In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.
About Blockchain for Good Alliance (BGA)
The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.
For more information
Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood
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