Artspace

About Artspace

Artspace operates as a digital marketplace focused on the contemporary art sector, connecting collectors with a curated selection of artworks. The company was co-founded in late 2010 by Catherine Levene and Christopher E. Vroom, launching in 2011. Vroom, an experienced financial analyst and avid art collector, identified the opportunity to make quality fine art more accessible to a wider audience. Levene brought extensive experience from the digital media world, having been involved in building NYTimes.com and serving as COO of DailyCandy. Her background in digital business and a personal interest in collecting art shaped the company's e-commerce approach.

The New York City-based firm functions as an e-commerce platform where clients can purchase art directly from the site. Its business model is centered on providing access to artworks from a global network of galleries, museums, non-profit organizations, and publishers. This model challenged the traditional art market's reliance on in-person gallery sales. The platform serves a broad clientele, from aspiring enthusiasts to seasoned collectors, offering pieces across various price points, from under $200 to over $100,000. Revenue is generated through the sale of these artworks, which include paintings, sculptures, prints, and photographs.

A significant milestone in the company's history occurred in August 2014, when it was acquired by an affiliate of Phaidon Press, a distinguished publisher of books on the creative arts. The acquisition, driven by Phaidon's then-owner Leon Black, was intended to merge Phaidon's global brand and distribution network with Artspace's online marketplace, creating a more comprehensive community for art professionals and consumers. This partnership aimed to give Phaidon direct access to art collectors while providing Artspace with the benefits of Phaidon's international presence and relationships with artists. The platform also offers services such as complimentary advisory, curated collections, and editorial content like artist interviews and market news to support collectors.