In one of the more curious announcements in the art world, the art investment vehicle, Artist Pension Trust, and its companion company, art information provider, Mutual Art, which were both founded and led by a group of Israeli entrepeneurs, have announced a merger.
What the combined companies can do together that they could not do apart is not readily apparent. Nor is there an obvious business model for either company as a separate entity or combined.
Melanie Gerlis got the news first in the Financial Times:
The Artist Pension Trust (APT), which pools artists’ works for later-life funds, has merged with its sister company MutualArt.com, an art world information provider. APT has nearly 13,000 works in its inventory; MutualArt has 500,000 registered members. The plan is not to be another online art sales platform, said Al Brenner, chief executive of the merged MutualArt Group.
The Art Market: Miami sales and a ‘shopping channel’ for art (Financial Times)
