Artfest Announced the Addition of 5 Exclusive World-Renowned Russian Artists
DALLAS, TX--(MARKET WIRE)--Apr 14, 2008 -- Artfest International, Inc. (OTC BB:ARTI.OB - News) announced the addition of 5 new exclusive world-renowned Russian artists to its growing list of artists. Artfest acquired exclusive licensing rights to these new Russian art pieces as part of their goal of bringing top selling world-renowned artists from around the world to the United States of America through Artfest's direct marketing portal, www.ArtChannelGalleries.com.
The new art editions not only increases Artfest's roster of artists, but Artfest further gains an even more substantial international presence while keeping up with the demand for new Russian art throughout the world. Russian artists' freedom to express themselves is a relatively recent phenomenon and as a result is attracting more and more art collectors.(1) Artfest's new exclusive Russian artists launched this month will include: Demitry Sandjiev, Avdejev, Nadezhda Stupina, Viktor Kravtsov, and Yuri Voronov.
According to ArtPrice's Latest Trends Report, over recent years the cultural face of Russian capital has changed radically with the new opening of half a dozen or so contemporary art centers expanding Art Channel Galleries American art exposure in Russia. The new exclusive Russian artists will add to the Company's expanding list of exclusive artists including: Aubree Anna, Jean Bartlett, Randy Jacobs, Kathy Metcalf, and Harry Thompson, with more being added by Artfest International's member Curator Board. The Artfest curator board is composed of the top industry leaders that review, advise, and recommend art for Artfest International, Art Channel Galleries, and Art Channel.tv.
In 2007, for the seventh year running, the art market saw an overall rise in prices by over 18% with an overall surge of over 233% since 2001.(2) "These higher prices were accompanied by a higher total Fine Art Market revenue at 9.2 billion dollars, up 43.8% compared with 2006," according to ArtPrices's Art Market Trends 2007 report.(3) Art was already seeing demand from new areas like Russia but as investing on stock markets or in property appears riskier, new collectors and investment funds are showing interest as they seek out new kinds of alternative investing.(1) Given the new increased popularity in Russian art in tune with new art collectors, Artfest is able to deliver attractive fine art along with lucrative capital gains for their Art Channel Galleries art collectors.
About Artfest International Inc. Artfest International, Inc. is a publicly traded company under the symbol ARTI.OB. Artfest (www.artfestinternational.com) prints, markets, and sells limited edition, signed and numbered fine art and collectibles to its Members which include collectors, dealers, artists, decorators, designers, private collectors and investors. Artfest drives membership through its proprietary direct-sales e-commerce venue (www.artchannelgalleries.com), syndicated TV programming (www.artchannel.tv), brick and mortar galleries, online auctions (www.myartfest.com), and membership awards programs. Membership is free and includes a member branded, direct-sales e-commerce website having full back office support including a merchant account, just-in-time inventory, and fulfillment.
(1) ArtPrice, "The Latest Trends: Art Movements Under Review - Contemporary Russia," LE MARCHÉ DE L'ART CONTEMPORAIN 2006/2007 - LE RAPPORT ANNUEL ARTPRICE - THE ARTPRICE ANNUAL REPORT- CONTEMPORARY ART MARKET, (2007)
(2)ArtPrice, "The Latest Trends," LE MARCHÉ DE L'ART CONTEMPORAIN 2006/2007 - LE RAPPORT ANNUEL ARTPRICE - THE ARTPRICE ANNUAL REPORT- CONTEMPORARY ART MARKET, (2007)
(3)ArtMarketInsight by ArtPrice, Art Market Trends 2007, (France: March 2008)
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