The art world does not yet have a marketplace similar to StockX to provide buyers and sellers with a trusted platform to acquire highly sought-after editions, prints and collectibles. FairArt was born to fill this gap. The platform features the work of established and emerging artists, including Damien Hirst, Ai Weiwei and Nina Chanel Abney, along with Michael Reeder, Banksy, Cleon Peterson and Felipe Pantone.
Co-founder Nicholas Kidd was inspired by two reasons for setting up the company: firstly, it seemed an impossible dream for anyone in their 20s to collect art that often seems unattainable due to the exorbitant sums they sell for. Secondly, Kidd recalled a quote from Nina Chanel Abney, where she said: “If my work resells for a lot of money, it would be great to have some of it? all the artists talk about it. Nobody’s happy with how it’s going… it’s just about supporting the artists… who wouldn’t want to be a part of that? who wouldn’t want to be a part of that?”
In addition to developing non-profit and charitable partnerships, FairArt will ensure that a quarter of the fees from its platform go back to the artists, in an attempt to change “the way things are done in the second-hand art market”. For more information on fairart.io.
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