Jiaxin Yi

Date of Award

2022

Document Type

MA Project - Restricted Access (SIA Only)

Project Type

MA Project - Business Plan

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Brendan Burns

Second Advisor

Judith Prowda

Abstract

Since 2020, art e-commerce has been experiencing a significant rise in its growth. Restricted by the pandemic lockdown, more and more art dealers, galleries, and auction houses are developing online sales, and collectors from all over the world are gradually accepting and starting to trade art online. Online art sales have become a major trend in the art market. While searching or consuming art online, for new buyers, lack of understanding of art, boring artwork descriptions and insufficient sales service have become problems that prevent them from making a consumption decision. In the face of opportunities and needs, ARTESE LLC, an online art dealer, will be established in 2022. Due to the government's financial support, Artese's headquarter will be founded in Shanghai. Based on market trends, it targets new millennial buyers in China and the United States, offering online sales of works by selected emerging artists worldwide. It sells high quality and affordable arts to collectors based on representation agreements signed by artists. Meanwhile, Artese will focus on the production of artwork descriptions and full services to meet the needs of new buyers. Different from other online platforms, its features and services include VR artists' studio tour, live streaming, art market analysis, art consulting and post-sale services. Artese's mission is to break down barriers between emerging artists and new buyers, reinventing ways to discover and collect contemporary art beyond traditional art models and showcasing worldwide emerging talents through a diverse range of digital contents, online exhibitions, and strategic partnerships. Considering the negative impact from barriers of entry as reputation building and the restrictions of the pandemic, online marketing is crucial for the growth of Artese. Thus, while focusing on high quality content creation, Artese will affiliate with social media and other art platforms such as Artsy and Artnet for online promotion ground on the Millennials' user behavior. We will continuously improve the platform based on monthly data analysis and expand the number of users to achieve the company's development goals. Ideally, Artese will increase its revenue by 5% per year and turn profitable in the second year. In the early stages of Artese, the team will consist of five members: CEO, CFO, COO, Software Engineer and Art Advisor. The CEO will be responsible for making business decisions and selecting artists, the CFO will be responsible for the financial and sales aspects of the company's internal and external operations, the COO will be responsible for managing and marketing the represented artists, the software engineer will be responsible for building and running the online system and features, and the art advisor will be responsible for customer communication and sales services. After few months of preparation, we are looking forward to meeting you all at Artese. Artese, your best art friend!

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