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ART MARKET: ARTSPACE.COM BUYS VIP ART

 

By Culturekiosque Staff

NEW YORK, 5 APRIL 2013 Artspace.com, the leading online marketplace for contemporary art, announced earlier this week the acquisition of VIP Art, a New York-based online platform that connects sophisticated collectors to leading dealers. The acquisition strengthens Artspace.com’s objective to expand its collector base and partnerships with galleries worldwide. This news comes on the heels of the announcement in February 2013 that Artspace.com had raised $8.5 million in new capital funding led by Canaan Partners. Concurrently, the company also announced that the American collector Maria Baibakova, daughter of Russian Oligarch Oleg Baibakov, joined its Board of Directors and was appointed Strategic Director to expand Artspace’s Limited Edition series and accelerate partnerships with museums, cultural institutions, galleries, artists, publishers and art fairs globally.

Over the course of several months Artspace.com will integrate VIP Art’s themed programming, content, comprehensive calendar of events and  ‘Discussions’ film series, which offer intimate video tours of collections and artist studios, and interviews with leading art world figures. "VIP’s collectors are in great hands with Artspace.com," said James Cohan, founder of VIP Art and owner of James Cohan Gallery. "We are impressed by the platform’s business model and think that it delivers the greatest value of all the online players to its partners and members."

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