APT Announces Merger with MutualArt.com
LONDON and NEW YORK, December 5, 2016
The Artist Pension Trust (APT), a patented model that provides long-term financial security for select artists around the world, announces its merger with MutualArt.com, the premium online source for objective art information, to form MutualArt Group. MutualArt Group also announces that Mark Sebba will replace Moti Shniberg as Chairman of the Group. Sebba will play an integral role in executing the Group’s vision of becoming a leading art sales organization.
The merger, which comes after APT’s successful sales pilot in March 2016 and the recent launch of the re-designed MutualArt.com website, will expose the APT collection, comprising nearly 13,000 artworks from 2,000 leading artists, to MutualArt.com’s audience of over 500,000 members. The Group will draw on MutualArt.com’s comprehensive online database of art market information in order to facilitate the sale of artworks from the APT collection to the most relevant collectors and institutions.
Al Brenner, CEO of MutualArt Group and former CEO of MutualArt.com, stated: “The merger will allow MutualArt Group to tap into an extensive network of artists, curators, collectors, and dealers, and conduct targeted sales of works from the APT collection—one of the largest contemporary art collections worldwide.”
Chairman of MutualArt Group Mark Sebba — former CEO of The Net-a-Porter Group Limited and current Trustee of the Victoria and Albert Museum — brings to the Company over 10 years of experience in the luxury e-commerce sector. During his time, Net-a-Porter grew from a single e-tail store to one of the world’s most successful online fashion retailers. In this role, Sebba succeeds Moti Shniberg, co-founder of APT and MutualArt.com, who remains a member of the MutualArt Group Board.
Mark Sebba commented: “I am looking forward to working with CEO Al Brenner and the MutualArt Group team to achieve our goal of combining the deep knowledge and assets of APT and MutualArt.com, and enhancing MutualArt Group’s presence as a leading art company.”
A key step towards MutualArt Group’s reinvigorated vision is the recent launch of the redesigned MutualArt.com. The website offers tailored information and alerts to its users, serving as a one-stop, objective art information authority.