Romanian auction house Artmark announced its new online auction platform called Lavacow, which will focus on emerging contemporary art in Eastern Europe, and which will bring elements of online gaming for the first time on the local auction market.

The creators aim to increase visibility for Eastern European art worldwide, and bring art closer to younger audiences.

The platform is designed as an online game, with users creating their own avatars to join the auction, displaying their stock of investments in art, and interacting with each other. After buying online, the investor in art receives the purchased work of art at home.

Auction fees will be half the ones asked by traditional auction houses, and will range between 8 and 12 percent of the value of the deal. Users who recommend the platform and bring in others to the system can benefit from zero auction fees. Registration to the system is free.

The platform, which will organize its first online auction on May 27, will sell 50 works of art at starting prices between EUR 200 and EUR 5,000 in its first session. The platform available at Lavacow.com started displaying works of art on auction on May 14.

“We want Lavacow to become a launch springboard for many talented artists who deserve a better promotion and visibility,” said Cristina Olteanu, the CEO of Lavacow online auction house.
The new platform targets the 21 to 40 age group, with average income, and an increasing interest for originality, European culture, and new experiences.

Artmark’s 2014 kick off auction reaches over EUR 0.2 mln sales

Corina Chirileasa, corina@romania-insider.com