Possessing art has been a status symbol for decades, especially if the work was created by a renowned artist. If a guest enters your home and you have a masterpiece hanging on the wall of your living room, the guest will certainly gasp in surprise. Also, big companies display contemporary artwork at the workplace in order to create a niche in the minds of their clients. Popular artists assign the responsibility of the sale of their artworks to well-established galleries. These traditional gallery systems hold auctions to gather interested people and raise money for it. In the race to attain the artwork of one’s choice, the buyer ends up splurging a lot of money on it. The Twyla startup is here to overcome the inhibitions of a traditional gallery system.
Even business geniuses believe that the art market is extremely difficult to comprehend. One might spend billions on a particular painting, but it is tedious to resell it even with a marginal profit. It is simpler to analyze the highs and lows of a company’s stock market value. But reading the art market’s profitability is a tricky thing for business pros as well. It often happens that one might buy an expensive piece of art as an investment. When the time to get returns from the investment arises, the only solution one has is to contact the galleries. Selling or buying art through such galleries can at times be an intimidating process. Twyla startup aims at making the process of buying art as simple as buying a wall clock.
Why is Twyla startup a better way to buy art?
Twyla assures to offer an innovative way to browse as well as buy the artworks. The company claims that the entire experience will be seamless and customers will have access to the limited edition artworks by contemporary artists from across the globe. Twyla collaborates with such artists to acquire the rights to create replica prints of their works. These prints are then sold at the fractional price of the original piece. Thus an individual need not wait till he becomes a millionaire to afford art.
Not only is Twyla beneficial for the customers, but also for the artists. Uprising contemporary artists can use this platform to showcase their work and make it more approachable. An art lover can go through the works of these upcoming artists on its online portal or even at the exhibitions organized on a regular basis. Twyla showcases artworks at the selected “showrooms” which are boutique hotels and other such venues across the country. It acquired the rights to the works of more than 80 artists. With their works, it has a collection of over 300 exquisite artworks, which are framed or unframed according to the customer’s requirement. These framed pieces range from $1,000 to $5,000.
Is artwork exclusive on Twyla?
Matt Randall, the co-founder, and CEO of Twyla startup states that this concept helps the artists who face seller limitations. At the same time, consumers had to explore the market of art which isn’t as transparent as other markets. This served to be a major block between the artists and the buyers. The company aims to curb this block and provide smooth sales for both the parties. A major drawback of this startup is that it loses the exclusivity that comes with great art. The main reason behind the high prices of art is because that is the only piece ever created by the artist. Even if the artist tries, he can never create something exactly the same like his earlier works. Therefore the artworks sold at Twyla have lost the value of art as it isn’t unique anymore.
