Raj Agrawal is the founder and CEO of YourArtBay
YourArtBay is an online platform linking the buyers and sellers
of art.
Guardian Thursday 11 April 2013 16.02 BST
Name: YourArtBay
City: London
Website: http://www.yourartbay.com/
YourArtBay is an online platform linking the buyers and sellers of art. It connects sellers of art with a crowd of buyers who contribute small amounts of funding for collective equity in artwork for both short and long-term asset building opportunities. It is a people's platform to buy and sell shares in art and antiques.Our business model in itself is efficient: we're completely online, so art lovers don't have to physically visit anywhere or collect the artwork. They can see detailed information about the art, artist, pictures, videos and independent valuation of the art on our site. Being online is also more efficient for us as we have far fewer overheads.What has made us really efficient is the market research we undertook before starting YourArtBay. From our long survey into the current art market, we found that the major hassle for people and businesses is visiting the galleries and auction houses. It costs extra time and money; we also found that people were concerned about the affordability of the art and commission charges they could end up paying. So we came up with the idea to provide an online platform to trade shares in art and antiques.Because of this market research we have an insight into the art world and have benefited greatly in positioning our service offerings and added value to our customers.We also outsourced the valuation and authenticity check of the artworks on our site, which frees us to concentrate on our core area of business.
Raj Agrawal is the founder and CEO of YourArtBay
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