LONDON.- ARTSTAQ, the London-based fintech company, announced the launch of Artex500, a new exchange model that enables investors to acquire and trade art as an asset class in real-time anywhere in the world.

The platform, the first of its kind, provides independent market data, market valuation along with other investment parameters free of charge, and has been designed for experienced art investors as well as those who are new to the sector. It is supported by ARTSTAQ’s unique technology for automated quotation and real-time rating.

ARTSTAQ’s CEO Jozef Barta, formerly the head of UniCredit Bank (Slovakia), confidently predicts the new exchange model will spark a revolution in the art world, enticing traders, family offices, hedge funds, banks and other institutions to invest in art for the first time, substantially enlarging the market for art and bringing greater transparency and liquidity to the sector.

‘The art market is currently worth $63.3bn,’ says Barta. ‘But because of the lack of transparency 97 per cent of professional investors don’t trade in it. We believe that ARTSTAQ platforms and the new art exchange model Artex500 will change that. If just 10 per cent are convinced, the art world will treble in size, which is great news for everyone, especially the galleries, artists and collectors.’

Artex500, which has been operational since the beginning of the year, is currently focussed on emerging artists, however Barta sees potential for expansion into the more established and highly lucrative blue chip market. ‘We’ve had discussions with a number of major art world players who operate in the secondary market who are interested in using our exchange model and ARTSTAQ’s unique automated quotation and rating technology.’