Art dealer Hihey: Offline art exhibitions, currently valued at $100 million trillion

Abstract: Dressed in Army green coat, backed by the window sitting idly, bangs high bin, gushing about his eyes in the art industry 12 years of change. When he was 8 years old, he entered the art industry. Along with industry ups and downs, 2011, he began to transform, founded a

Dressed in Army green coat, backed by the window sitting idly, bangs high comb bin, gushing about his eyes in the art industry 12 years of change. When he was 8 years old, he entered the art industry. With industry ups and downs, in 2011, he began to transform, founded the Hihey, an art-focused trading platform, offline art exhibitions, currently valued at $100 million trillion.

The reason why he chose the 2011 Hihey was based on his judgment of the art industry: 2011 years of value in the traditional art industry reached a peak of 100 billion, and then began to decline. Bin realized that the technological revolution is in the traditional industry trough, after the bursting of the bubble, is the primitive accumulation of the eruption. From then on, he was concerned that China's new rich people gradually pay attention to the quality of life, the eyes turned to the art collection.

Traditional art deals are mainly in galleries and auction houses, and art dealers were not recognised at the time. From 2006 to 2010, the traditional Chinese gallery spent the golden period. In the year of 2007 alone, more than 200 galleries were opened in 798 art districts in Beijing. In the 2011, the gallery was hit by Big capital auction houses, and the art site was just in its infancy.

Hihey a platform to connect artists and collectors, trying to get more artists to touch users and transform the split structure of traditional art chains. Bin said: "The next 10 years, the network will completely subvert the entire art world, more than half of the art transactions will be completed online."

In the traditional art industry, the artist is difficult to obtain recognition of the gallery, which is full of stories: many artists carry their works thousands of miles to Beijing, in 798 such areas run off legs, to find a gallery to sign a contract, but basically all with the brutal refusal of the hastily ended. Even with the gallery, the artist earns only a small share of the income, as the costs of high rents and time-consuming curatorial activities are borne by the gallery.

And how do art dealers change the status quo? Claiming to be China's largest hihey, the current business is mainly divided into online and offline two parts, on the line to contract artists including oil painting, sculpture and other works of art display, trade and auction, offline in the country's five own galleries held art exhibitions and lectures activities.

In terms of business model, Hihey for registered artists to collect annual fees, at the same time for each piece of work to extract 5% to 30% of the transaction commission, the current transaction of the average customer price is 30,000 yuan. What Hihey want to do is not only a one-off trade in art, but also the introduction of art financial products, so that buyers can do on-account work on art. At present, Hihey has reached a cooperation with Minsheng Bank, and will establish cooperative relations with other banks in the future.

Under the line of integration lines, Hihey has opened 5 galleries in Guangzhou, Wuxi, Shanghai, Nanjing and Beijing, showing local art enthusiasts and buyers the artwork they signed for sale, and then diverting the deal to the line through two-dimensional codes. In the next three years, Hihey plans to have 100 chain galleries in two or three-line cities nationwide. At the same time, Hihey also works with major property developers in the new Light World, contemporary MoMA and Wangjing Soho and other places to do exhibitions, this year also in the capital Airport T3 held a 20,000 square meters of art exhibitions.

In the Internet, mobile internet to accelerate the transformation of traditional industries today, all walks of life are in the self innovation, and traditional art concept is deep-rooted, in the past many people think that art can not be completed online transactions. But bin revealed that Hihey's turnover this year was the equivalent of a year's worth of China's best galleries. And this data for the traditional industry is a shock, so that the gallery also had to net, neither leather their own life and can transform, at present Hihey has 8 cooperative galleries.

Today's art power companies have developed rapidly, valuations have been billions of dollars, the core elements of the traditional gallery location This restriction was eliminated, reducing the cost of the exhibition and artists to enter the threshold, while the average value of the works of art compared to other categories are much higher. Bin revealed that on the Hihey line, the average buyer (retail) consumption level of about 5000 yuan, and high-end users (VIP) consumption level as high as 100,000 to 1 million yuan.

Up to now, Hihey signed artists reached 10,000, the number of artworks sold over 8,000 pieces, registered buyers about 20,000 people, the cumulative turnover of 100 million yuan. At present, Hihey won the 100 million RMB financing by Minsheng Bank, Citic Securities, three deep venture investment, and valued more than 100 million U.S. dollars.