What is Art Exchange?

Art Exchange is a centralized financial marketplace allowing the sale and purchase of undivided shares in works of art. Transactions are organized around a central order book for each work.

How do I create an account on Art Exchange?

You can create an Art Exchange account by clicking on the link “Create an account” in the connection module on the home page. You will be asked to provide information such as your full name, your date of birth, your place of residence as well as a telephone number (mobile telephone number if possible) where we can reach you. You will also be requested to provide a copy of an identity document as well as proof of address less than three months old.

How long does it take for my Art Exchange account to be validated?

The average processing time is approximately three days as of receipt of all of the required documents (either electronically or by post).

How can I connect to my Art Exchange account?

To connect to your Art Exchange account, go to the connection module on the home page, enter your ID (your email address) then click on the figures which compose the password which was previously sent you to by letter.

How do I place an order?

To place an order, you must first log in then go the web page of the work you are interested in. On this page, you will find the order placement module which enables you to choose between a purchase order and a sale order, to indicate the number of shares you wish to purchase or sell and finally the limit you wish to set for your order. You will then be presented with a summary of your order as well as a digital keypad enabling you to enter your password thereby confirming your order.

Which types of order exist?

The only type of order which is available is a “limit order”. For purchase orders, this enables to fix the maximum price which you are willing to pay for each share. For sale orders, it enables to fix the minimum price at which you are willing to sell your shares.

What is the lifespan of an order in the order book?

An order has an unlimited lifespan in the order book. You may nevertheless delete an order at any time.

What happens to partially executed orders?

Both purchase and sale orders may be partially executed. The order is then kept in the order book but only with the remaining quantity of shares. You may subsequently delete this order if you wish.

How do I delete an order?

As long as an order has not been executed, you may delete it at any moment by connecting to our website and clicking on “My account”. The last module presents the list of pending orders. To delete an order, click on the cross to the right of the order which you wish to cancel. You will then be asked to confirm the deletion of the order.

When are orders executed?

All orders are executed at the same time, when the daily fixing takes place at 6:00 pm. This fixing takes place from Monday to Friday, on working days.

How do I place an alert on a work?

To place an alert on a work, you must first log in then go to the web page of the work in which you are interested. On this web page, you will find the module for placing alerts which enables you to choose the type and the threshold of the alert you wish to receive. Your alert will then be immediately activated and you will be informed by email when it is triggered.

What type of alert can be placed on a work?

You may place four types of financial alert on the works: an alert when the price of the shares of a work exceeds a certain threshold, an alert when the price of the shares of a work goes below a certain threshold, an alert when the rise in the prices of a work is higher than a certain percentage and finally, an alert when the drop in the prices of a work is higher than a certain percentage.

How do I delete an alert?

You can delete an alert at any time by logging in to our website and clicking on “My account”. The alert module presents the list of active alerts. To delete an alert, click on the cross to the right of the alert which you wish to deactivate. The alert will then be deleted.

How do I change the language of the site?

You can change the reading language from any page of the website by clicking on one of the flags at the bottom of the page.

How do I set the language in which emails from Art Exchange will be sent to me?

The information and alert emails will be sent to you in the language you selected when you last logged in to the site.

What information is available on the works of art?

A physical description of the work is directly available on the presentation pages for each work. On the same page it is also indicated where and in what conditions the work may be seen. Each work is also accompanied by a presentation brochure in PDF format. This brochure includes: a complete biography of the artist; a history of his/her exhibitions; a history of the public presentations of the work; a brief press review of the artist; the list of galleries representing the artist and finally, the work's certificate.

Who can purchase shares in works on Art Exchange?

Any person who is of legal age and legally responsible can create an Art Exchange account and buy shares. Nevertheless, Art Exchange performs strict checks on clients and may, at its discretion, refuse to open an account.

Can a company subscribe?

A legal entity can also create an Art Exchange account in order to purchase and sell shares in works of art. However, in this case, the procedure for opening an account is manual and personalized. Please contact Art Exchange (info@aexchange.net) for more information.

How do I credit my Art Exchange account?

In order to credit your Art Exchange account, you must log in to the website and click on “My account”. On this page, the credit module enables you specify the amount which you wish to credit to your account as well as the method for transferring the funds: by bank transfer or by bank check. Once you have entered the information, a code will be displayed which is to be indicated on the back of your check or in the comment field of the bank transfer. This code is indispensable to rapidly and efficiently process your credit request. Please also note that only bank checks are accepted and not traditional checks.

Bank branch address: BNP Paribas, 249 rue Lecourbe, F-75015 Paris.
Company's address: 267 rue Lecourbe, F-75015 Paris.
IBAN: FR76  3000  4015  3200  0100  3520  353
BIC:  BNPAFRPPPSU

How do I withdraw the funds available in my Art Exchange account?

In order to debit your Art Exchange account to withdraw your funds, you must log in to our website and click on “My account”. On this page, the debit module enables you to specify the amount which you wish to debit from your account as well as the banking details (BIC and IBAN numbers) of the account to which you wish the transfer to be made. A description field will enable you to save these details so that you do not have to enter them again. Please note that in the case of transfers outside of the Euro zone, you will be responsible for any transfer and exchange fees.

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Why isn't the total amount of my funds available?

When you place purchase orders, the amounts which correspond to pending purchases are blocked in your account until the execution or the cancellation of the order. You can consult the credit amount and the sums which are available in your Art Exchange account by clicking on the first module at the top right hand corner of the “My account” page. You may cancel pending purchase orders in order to render the funds in your account immediately available.

How long does it take to receive funds following a debit request?

The maximum processing period by Art Exchange for a debit request is five working days. The banks' transfer processing time should be added to this, which can greatly vary, especially in the case of transfers outside of the Euro zone.

How do I obtain the entire history of my account?

The transaction history module on the “My account” page only shows the last twelve transactions, deposits and withdrawals made on your Art Exchange account. If you wish to consult all of the transactions made since the creation of your account, you may do so by clicking on the green icon in the form of a histogram, at the top right hand side of the module. This will download a file in CSV format (which can be opened by Microsoft® Office Excel in particular) which contains the complete history of your account.

Can I export data from the site to process it in my software?

All of the modules which have a green icon in the form of a histogram enable data to be exported. Clicking on the icon in question triggers the download of a file in CSV format (which can be opened by most data processing software and can be read in text format) containing all of the data available for the module.

Can I “zoom” in the graphs?

It is possible to show only a part of the available information by selecting, with the mouse, a reduced quotation period in the lower curve.

Why are there two curves for each graph?

Each graph operates in a similar manner. The lower curve represents all of the quote prices since the start of available quotes. This enables, by selecting a zone with the mouse, to develop the quotation period which will be displayed on the upper curve. The lower curve may therefore be considered as a general view of all of the information available whereas the upper curve, which is dynamic, displays a detailed view of certain events.

How can I print the graphs?

The graphs can be printed in high resolution by clicking on the blue icon in the form of a printer. Only the part which is actually displayed will be printed.

How can I export the graphs?

The graphs can be exported in PNG, JPEG, PDF and SVG formats by clicking on the green icon in the form of an arrow pointing downwards. Only the part which is actually displayed will be exported.

How is the Art Exchange market index calculated?

The Art Exchange market index corresponds to the sum of the total evaluations of all of the works available on the market divided by 10,000.

How is the quoted share price calculated?

The orders in the central order book are sequentially executed at the time of fixing according to the following method: the purchase orders are classed from the strongest to the weakest; the sale orders are classed from the most demanding to the least demanding; two orders with the same limits are classed by chronological priority; the first purchase order is matched with the first sale orders until the prices correspond; once the strongest purchase order has been fully executed, the procedure is repeated for the second strongest purchase order and so on. This formula enables to maximize the volume of transactions at each fixing. The last price enabling the execution of an order is then recorded as the new reference price.

How can I offer a work for sale on Art Exchange?

If you wish to offer a work for sale on Art Exchange, please contact A&F Markets via the website www.afmarkets.net.

What guarantee do I have that the works are authentic?

All of the works have been authenticated by the artist's acknowledged expert at the cost of Art Exchange. A copy of the certificate can be consulted in the work's presentation brochure.

Who is responsible for managing the work?

A&F Markets is in charge of managing (storage, insurance, transport…) and promoting works. It makes every possible effort so that the work is correctly represented.

Can I see the work in which I invest?

Each of the works' web pages indicates where and in what conditions the work can be viewed. Unfortunately, all of the works are not accessible at any time.

What happens to my data?

Art Exchange does not transmit any of your data to third parties except within the very precise framework of controls which it is legally required to perform. You will not receive any commercial solicitation from any partner. Access to your data by Art Exchange's operators is strictly controlled, even within the frame work of client support.

Who produces the articles presented by Art Exchange?

The articles presented by Art Exchange are created and supplied by A&F Markets under the name AMA (Art Media Agency). If you are interested in the content of these articles and wish to have the complete archive of the articles presented or to reuse them, please contact AMA (info@artmediaagency.com).

Can you provide investment advice?

Art Exchange shall not under any circumstances provide you with investment advice, whether in relation to the works on its market or even on the type of asset in which you should invest. Moreover, it is not advised to rely on any opinion which may be expressed to you. Please note that, in compliance with the General Terms and Conditions, , the client shall be solely responsible for any loss which may result from his/her choice of investment.

If I change my email address, how can I change my Art Exchange ID?

On Art Exchange, your email address is also your ID. If you change your email address, please contact the support services of Art Exchange (support@aexchange.net) to have your ID changed. Please allow for a period of five working days during which your account may be blocked.

I think my account may have been pirated, what should I do?

If you have reasons to believe that your account has been pirated, please contact the support services of Art Exchange (support@aexchange.net) giving the reasons why you believe this to be the case. Your account will be immediately blocked. After an investigation by one of our agents, your account will be reactivated and you will be issued with a new password which will be sent to you by post.