Takung Art Co., Ltd. Company Profile, Contacts & Intelligence

Takung Art Co., Ltd. Overview

Based in Hong Kong, Takung Art Company Ltd. provides a secure and easy way for art collectors and investors to acquire shared ownership in Asian and other fine art - including paintings, calligraphies, jewelry and precious gems - and participate in the booming international art market without fear of price manipulation and forgery. The ability to trade these valuable assets on Takung's proprietary online trading platform has attracted a significant number of fine art investors - including many ordinary people without substantial financial resources. This novel platform significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone. For providing this unique service, Takung Art Company earns multiple streams of revenue, including listing fees, trading commissions, management fees and authorized agent fees. Takung's business model is to continually add to its fine art listings by offering collectors units in carefully selected items. First, an artwork - either an individual piece or portfolio of several pieces - is presented to Takung by an authorized agent, who helps get the artwork professionally appraised. After making its own assessment, if Takung believes it is clearly marketable and will likely appreciate near-term, the company will - after receiving all offering documents - list the artwork on its site and divide it into equal ownership units based on its appraised value. For this listing the artwork's owner or the offering agent pay Takung a one-time offering fee of 22.5 to 48 percent of the artwork's offering price and a refundable listing deposit of roughly 20 percent of the offering price. In addition, Takung charges trading commissions for the online purchase and sale of artwork units, as well as management fees covering the insurance, storage, and transportation for artwork. Takung may also receive substantial annual fees from those agents authorized to list products on the company's platform. Traders utilize our platform through a client app available for download from the company's commercial website. Currently, most of our traders are located in mainland China. In July 2016, the company initiated its first major expansion of operations outside of China when it introduced the trading platform to residents of Russia, Mongolia, Australia and New Zealand. As of June 30, 2017, Takung had 210 art listings trading on our platform, with an aggregate initial listing value of US$51.9 million. Most of the listed pieces and portfolios have traded actively and shown significant appreciation since their introduction on the site. The purchase and sale of ownership units of Takung's listed artwork generated a total transaction value of US$4.12 billion in the second quarter of 2017 versus US$1.27 billion transacted in the comparable year-ago period.

Headquarters

Kong, Hk

Website

takungart.com

Industry

Technology, Information And Internet

Founded

2012

Phone Number

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