PR HONG KONG, CHINA / ACCESSWIRE / March 7, 2017 / Takung Art Co., Ltd. (TKAT), an online platform for acquiring shared ownership units in Asian and other fine art, jewelry and precious gems, today said it processed transactions totaling US$1.47 billion in the 18-day trading month of February 2017, a 657 percent increase on total transactions of US$194.18 million recorded in the 16-day trading month of February 2016.
The company also added four new listings in February 2017, bringing the total number of listings of artwork trading on its platform to 190.
According to Takung CEO Di Xiao, "Despite the continuation of Chinese New Year festivities into February, which shortened our trading month, the platform generated average daily transactions of $81.43 million, the highest daily average in any month since the company's inception. We expect both trading activity and the number of new listings on the Takung platform to show continued expansion throughout 2017 and beyond."
Since December 2013, Takung has provided a way for art collectors and investors to buy and sell ownership units in valuable paintings, calligraphies, jewelry and precious gems. Takung's unique approach is to divide selected artwork into equal ownership units based on its appraised value. Traders can then buy and sell these units online via a client app available for download from the company's commercial website. While most of the traders on the platform are currently located in mainland China, Takung announced last year an expansion of operations to increase its trader base with residents of Russia, Mongolia, Australia and New Zealand.
Takung generates revenue primarily from listing fees ranging from 22.5 to 48.5 percent of the artwork's offering price, as well as recurring revenue from trading commissions and management fees.
There are two types of listings on the Takung site - an individual artwork or a portfolio of several pieces. Most of the listed artworks trade actively and have shown significant appreciation following their initial sale and introduction on the site. Each listing - with its initial offering price and current price and value - can be found on Takung's corporate website at http://www.takungart.com/portfolio/listed-artwork
ABOUT TAKUNG ART CO., LTD: www.takungart.com
Based in Hong Kong, Takung Art Co., Ltd. is an online trading platform for acquiring shared ownership in Asian and other fine art, jewelry and precious gems. This proprietary platform allows collectors and investors - including those with modest financial resources -- to buy and sell units of these assets and participate in the booming Asian art market. The company's shared-ownership business model significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone.
Takung operates its online trading platform via three wholly-owned subsidiaries, Hong Kong Takung Assets and Equity of Artworks Exchange Co. Ltd., Takung (Shanghai) Co., Ltd., and Takung Cultural Development (Tianjin) Co., Ltd.
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