London and Prague based start-up, ARTSTAQ was launched in 2015, constructed to be a new kind of stock market exchange for the buying and selling of art. This online market is meant to be a platform providing transparent data for buyers and sellers, allowing them to view artists and their works' value. Based off of a standardized index, ARTSTAQ measures this value with an algorithm rating system that incorporates past auction history as well as qualitative information from curators, gallerists, and academics.
As of April 15, the index included information on 300,000 artists. These 300,000 some artists on the current index are all emerging, but they are hoping to keep creating the system to cater to both emerging and established artists. The process to get included on the index requires a few steps however, starting with an "art partner" who backs the artist's inclusion. Their information is then send to the fellow partners, namely the incorporated curators and gallerists, to gain their individual feedback with a corresponding rating. Although this qualitative input makes the platform unique, and honestly more human, the rating system still has to be considered a tool for investing and not for individual aesthetic definition.
ARTSTAQ claims one of their main missions is to assist emerging artists in their entrance into the art market and this might very well be the case. The art market and auctions have always held notoriety because of the lack of regulations during transactions. Anonymity is a major factor among both collectors and dealers alike. This online option eliminates that and allows for total transparency to sustain a level of standards and regulations that was previously unknown to the art world. Depending on its reception, this tool could be greatly utilized by collectors and investors, but then again, they might be stuck in their ways.