The Artnet Magazine Internet edition (artnet.com), the unique art magazine leaving only in a network throughout 16 years, declared the termination of the activity. Director general Hans Noyendorf since July 1, 2012 retires, his son Jacob Pabst becomes his successor. In the press release it is reported that this decision is caused by the economic reasons as the Internet magazine in all 16 years couldn't reach self-support.
For the first six months of this year of its expenses reached €471 thousand while the income made only €50 thousand. The Artnet Internet resource is known, besides other, a database on auctions and the prices for the art, including information as from the largest international auction houses, and small galleries. In recent years Artnet tried to develop auction business online.
