A former Private Equity director is tackling the ‘unfair’ world of art with the launch of a zero-commission based art platform which utilises data to help artists market their work more effectively.
Framd is an online resource for both artists and buyers, founded by London-based former investor and tech entrepreneur, George Panton, who believes that without intervention, the tide will never turn in favour of artists who struggle to be seen.
George said: “I have always held an interest in art, despite my career taking me in a slightly different direction! But having witnessed the frustration of many artist friends, I can see the way the art market operates is inherently one-sided and has been for centuries.
“It’s heavily biased towards buyers and is rarely on the side of the artist. The fundamental issue is commission, which makes the buyer the customer and the artist just one of many possible suppliers. Couple that with strict curation along with a who you know culture, and you have an impenetrable market for many talented artists.”
Framd aims to turn the archaic practice of the art sector around by removing sales commission and providing members with valuable tools and data aimed at making the platform as transparent as possible whilst motivating Framd to focus on the success of the many, not just the few.
With just under two million swipes on the platform so far, statistics have already revealed a multiplicity of tastes with no single piece of art being universally liked or disliked. Demonstrating the sheer diversity of taste in art and making the concept of Framd hugely relevant.
As more momentum is gained, Framd’s data will become even more valuable, with more knowledge of buyer behavior becoming available to artists.
George says: “Art and tech are usually positioned at opposite ends of the spectrum, but in this instance, the connection between the two just works – more neutrality is brought to art and that is something we believe can only truly be gained through technology.
“Not only are the virtues of zero commission and useful data an important factor for many, but for artists who have no interest or experience in selling, we have removed a large portion of hard work. Ultimately everything we do at Framd is focused on providing helpful tools to artists and getting more eye balls on their art – and that is what we are hell-bent on achieving.”