In the evolving landscape of the art market, ArtRow emerges as a revolutionary online luxury resale platform that bridges the gap between art sellers and buyers. With a commitment to transparency and accessibility, ArtRow empowers art enthusiasts to navigate the complexities of fine art transactions without the traditional constraints of auction houses. We spoke with Lara Tomaszewska, PhD, Founder + CEO, to find out more about what they do.
What is your business called and what does it do?
ArtRow is an online luxury resale marketplace for the selling and buying of your fine art. We offer an alternative to auction houses where sellers can keep possession of their works while benefiting from professional art services, such as artist research, market valuations, and professionally written artwork descriptions.
What made you want to do this work?
I have been in the art industry for over two decades as an art history professor, art appraiser, and art advisor. I am passionate about the academic study of art and I also love selling art! These two spheres are united by ArtRow in an easy-to-use online platform.
What problem did you want to solve with the business?
The art world can be intimidating with a high barrier to entry for both sellers and buyers. With ArtRow, sellers can easily apply to list their work. If accepted, sellers send in photos and details about the artwork and the ArtRow team does the rest, including valuations and art research. The seller maintains possession until point of sale and they do not need to enter into a consignment agreement. In this way, sellers can market their work from their own homes – without stepping into a gallery or auction house.
Who are your clientele/demographics?
Art sellers and buyers come from all generations – the Baby Boomers are downsizing and offering supply to the market. Millennials and even Gen Zs are active in the luxury resale sector and have a growing interest in art and collectables. It is expected that there will be an influx of 500,000 new art buyers over this decade. ArtRow is attractive to clients who routinely make purchases online and keenly understand the dynamics of the “circular economy” in which used luxury items can be bought and sold.
How does your business make money? How does it work?
ArtRow makes money by charging a seller’s fee of 25%. This fee includes all vetting, research and marketing. Unlike auction houses, we do not charge a buyer’s premium – buyers are responsible for taxes, import, and shipping costs.
Where in the city can we find your profession?
ArtRow is headquartered in Victoria, BC – a city known for its growing tech sector and ties with Silicon Valley. However, ArtRow is a global company and we are expanding to include sellers and buyers throughout Canada and the US – with a goal of establishing offices in the UK and Asia in the future.
What is the best question a prospective customer could ask a member of your profession when comparing services? Give the answer as well.
“What art should I buy?”
The answer to this question includes addressing all of the key components of making a sound art investment: the profile of the artist; artwork condition; artwork provenance (history of ownership); and, price. At ArtRow, we carry out due diligence on all of the above and only list artworks if they meet the criteria.
What is the best part about what you do? What is the worst part?
The best part of running ArtRow is having the opportunity to feature so many wonderful works of art that are held in private collections or passed down through generations. Families and owners feel that their stories are being heard and that their assets are being acknowledged. For example, we currently have a rare early work by Emily Carr that is being sold by a private collection in British Columbia, Carr’s home province. It is a lovely early watercolour that has been in the same family for over 50 years and has never before been on the market!
The worst part of being in the art world is that there is a very small number of art industry operators who are only about profit. The majority of galleries, dealers, and consultants are upstanding and driven by their love for art, but a few bad apples can jeopardize the public’s trust in the art industry. At ArtRow, transparency and expertise are top priorities.
What is your favourite joke about your own profession?
Stereotypes about art dealers abound. We can think of endless images and cinematic portrayals of champagne-drinking and flamboyantly dressed gallerists pontificating on a blank canvas before them. Poking fun at these clichés of the art world helps to break down the remnants of elitism that can still exist.
Where can we follow you?
Visit ArtRow.com for new monthly listings and sign up for our newsletter for updates, art market articles and highlights.
PAY IT FORWARD: What is another local business that you love?
Shout out to Peggy – another art marketplace start-up geared towards practising artists and galleries. The more the art ecosystem innovates to include and invite diverse users, the more we can democratize participation in the art market.
