TEFAF Names Invaluable Marquee Sponsor

(New York) October 11, 2016 - TEFAF, the world’s preeminent fair of art and antiques, today announced that Invaluable, the leading online marketplace for fine art, antiques and collectibles, will be the marquee sponsor for both TEFAF New York and TEFAF Maastricht. The new association will officially launch at the the inaugural edition of TEFAF New York Fall, a joint venture between TEFAF and Artvest Partners, and will continue for TEFAF Maastricht in The Netherlands from March 10-19, 2017 and TEFAF New York Spring from May 4-9, 2017.

Invaluable’s experience is in helping galleries and dealers develop robust digital strategies and connect with the company’s engaged, passionate collector base from 180 countries around the world, and aims to strengthen relationships within the dealer community, making it a natural fit for TEFAF.

As such, in the coming months Invaluable and TEFAF will be launching the TEFAF Digital Excellence Program powered by Invaluable, a new initiative that will provide dealers with the digital tools necessary to grow their business between fairs by expanding their reach and connection with new buyers online. Together, TEFAF and Invaluable are committed to exploring avenues to further grow the online art market, with an emphasis on high quality works and strong buyer confidence.

“Our first commitment at TEFAF is supporting the dealer community by consistently exploring ways that will expand their global platforms,” comments Patrick van Maris, TEFAF CEO. “We share the view that growth centers around the establishment of new dealer resources and connections, while at the same time we believe that, with the experience and expertise within our network and the very high standards we uphold for quality, condition and authenticity of art works put forward at our fairs, we can make a valuable contribution to the future of the online art market space. We are delighted to be working with Invaluable to that end."

Rob Weisberg, Invaluable CEO, said: "We are honored to embark on this new relationship with the world’s most prestigious fair for art and antiques. As the strong demand for fine art and antiques continues to grow online, we couldn’t think of a better partner than TEFAF to help ensure we bring the highest quality fine art and collectibles online and continue to raise the bar in this area."

According to the 2016 TEFAF Art Market Report, “in the traditional auction and dealer sectors, online sales have grown to account for an increasing share of the sales.” The report states that in 2015, sales of art online were estimated conservatively to have reached $4.7 billion, up 7% year-on-year and accounting for 7% of all global art and antiques sales by value.

When dealers specifically were asked to report the biggest challenges they faced over the next five years, the most frequently cited challenge was finding new buyers (73% of respondents). The report also found that of the dealers currently making sales online, the majority of their sales (52%) were to completely new buyers, illustrating how a strong digital strategy can help in this respect. Most dealers were also optimistic about online sales, as 58% thought they would increase over the next five years.

"The way that people buy art has unquestionably changed and we are seeing more galleries and dealers seeking new collectors by extending their reach online,” continued Weisberg. “We believe Invaluable can help dealers connect with millions of potential new buyers without having to make a large investment in technology and marketing services. We've taken care of that."

To learn more about TEFAF New York Fall, visit www.tefaf.com.