LIVEART MARKET PUBLIC LAUNCH ANNOUNCED

KUALA LUMPUR, June 17 (Bernama) -- LiveArt has announced the public launch of LiveArt Market, the digital peer-to-peer marketplace that places control into the hands of sellers and buyers.

LiveArt Market began limited, invitation-only trading last week and has already achieved sales approaching US$5 million, with more than 1,000 works of art valued at approximately US$120 million in the pipeline for sale. (US$1 = RM4.136)

Prices have ranged between US$50,000 and US$500,000, with works by Amoako Boafo and Ed Clark commanding six-figure sums. Early offerings available for purchase include works by Derrick Adams, Jean-Michel Basquiat, Yayoi Kusama, Pablo Picasso and Andy Warhol, among others.

LiveArt puts collectors in control by providing participants with one destination for real-time information and an efficient and secure marketplace in which to privately transact.

All LiveArt Market participants are extensively vetted and therefore, can transact anonymously in virtual deal rooms. Additionally, sellers can control the visibility of their works of art and only share exact details and images once they are comfortable with a potential buyer – addressing two key concerns often raised by market participants.

In a statement, LiveArt Executive Vice President George O’Dell said: “LiveArt provides a level of access and discovery that was previously available only to the most seasoned market participants.

“The platform is an exciting place for collectors to engage directly and chase otherwise unavailable blue-chip treasures, observe the latest trends, and discover artists usually reserved for a small coterie of insiders. For the first time, collectors anywhere in the world will have access to an exciting offering of works to suit all tastes.”

-- BERNAMA