The price is right: the international auction house uses a Polish algorithm to track the prices of artworks

An international chain of auction houses has adopted an algorithm devised by a Polish family that helps price the work of young and lesser-known artists.

Conceived in 2015 by the Imieliński family Articker lets people check how young artists, who aren’t prominent on the secondary art market, are trending. Articker is an algorithm that collates data from over 50,000 sources and through a complex system of weighting their value gives an overview of how lesser-known artists’ works should perform at auction, and how their work’s value will change in the future.

The auction house Phillips has now become the exclusive partner of Articker and offers some of the data as a daily bulletin on their website.

“Articker encompasses one of the largest data sets in the world of visual artists,” said Edward Dolman, CEO of Phillips. “By looking beyond pricing information, it provides us with a more holistic view of an artist’s place within the market. Phillips’ team of international specialists take pride in our ability to provide unique insight into the market at large and Articker will democratize this access to globally sourced information about the world’s leading artists. Digital innovation is a top priority for Phillips and Articker’s value as a tool for our staff and clients will be immeasurable.”

Articker was created five years ago by Celina and Tomasz Imieliński, who both studied electrical engineering in Gdańsk before moving to the United States. They were later joined by their son Konrad who returned to the US intent on turning his parents’ idea into a business after graduating in mathematical economics at the Paris School of Economics.

The three now operate the company as equal partners with Articker being just one of the products offered by their company Art Data Laboratories LLC.

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