Pexion launch ArtVault.co.zaby Michael Smith
Last year we featured a story about a company called Pexicon, who offer a wide range of services to the art and collecting industries. Their chief service at that time was a management tool for private and corporate collectors. The essential function of this would be the digital archiving work in a particular collection, which the collector could then access via a web-based application.
A couple of months ago I caught up with brothers Dale and Scott Sargent who run this service, and chatted to them about their new venture, ArtVault.co.za, which was launched at the Joburg Art Fair.
ArtVault.co.za is chiefly a website, offering a broad range of services to people interested in the SA art scene. On the site, visitors can browse through a number of corporate collections that have been digitised over the past five years by Pexicon, with each image accompanied by standard information of artist's name, work title, date and dimensions. ArtVault.co.za also has works available on the site for purchase, yet both Dale and Scott express interest in keeping this regulated: 'The Marketplace is a virtual gallery', says Dale, 'where galleries, dealers and artists can sell their work. We need to make sure a certain standard is maintained. We will be introducing a separate section on ArtVault.co.za where "unsigned" artists can create a profile and upload their work'.
In addition to this, ArtVault.co.za also offers visitors a nationwide gallery guide and information on major upcoming events in the SA art scene. A subscription-based e-newsletter will also begin circulation early in July.
Yet, possibly the most exciting addition to this site is the inclusion of a system whereby subscribers can receive auction results on SA art work traded in the last few years. ArtVault.co.za receives input from six major auction houses in SA; through information gleaned from this, potential sellers and buyers alike can ascertain a sense of the market value of a particular artist, and arm themselves against the market's shiftier dealers. I asked Dale about the educational value of this facility: 'It a good way for a person wanting to get into the SA art market to see how a particular artist is performing, or for someone looking at selling a piece to get a value based on the consolidated auction results'. Despite the Joburg Art Fair's phenomenal success, galleries around Joburg are beginning to feel the pinch of the economic downturn. How does Dale see Art Vault's future prospects in this belt-tightening climate? 'Our hits on ArtVault.co.za have increased substantially month on month since our launch; this could well be due to the fact that the art market has kept it head above water in these testing times. Often in contrast to various other markets'.
