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Can Magnus Resch’s A.I. App Crack the Art Market’s Transparency Problem?

With the A.I.-powered beta re-release of Magnus, the art market economist is pushing his “Shazam for art” app to the next level, providing instant access to pricing and market context for millions of artworks.

The art industry’s lack of transparency, particularly around pricing and final transactions, has been cited by many as a key factor preventing the market from expanding its collector base and reaching the new buyers it needs to sustain accelerated global growth. Several apps and startups have tried to address the issue, but none has succeeded in democratizing a sector that has become a very visible lifestyle phenomenon while still running on a level of secrecy and exclusivity.

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Art market economist and entrepreneur Magnus Resch built an entire career around the art market’s blind spots, writing extensively about the systems that determine artistic success, gallery sustainability and collector behavior. His latest venture is the update and re-release of an app called Magnus, which bills itself as the “Shazam for art.” Originally launched in 2013 as a regularly updated guide to art world happenings, the app went offline during COVID when museums and galleries shut their doors. Resch recently introduced a new A.I.-powered version, currently available in beta, that builds on the original premise with image recognition and a large art-price database. Take a photo of an artwork and you’ll receive, within seconds, information about........

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