June 13, 2011
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Art.sy, a new online art database that uses the genome technology of Pandora to make suggestions based on the shared characteristics of art works launches this week, and they’ve revealed their pricing model. It’s really strange. As reported by The Art Newspaper:
Rather than pay a subscription fee, participating galleries are asked to pay Art.sy a sales commission: 15% of the first $10,000 profit (the amount remaining once the dealer has paid the artist's share and production costs), and 10% of anything above that. As sales are conducted off-site, Art.sy is reliant on the honesty of the participating galleries.
I have a few concerns about this as a profit model.