Artspace, a start-up digital marketplace for contemporary art, is currently involved in acquisition talks with Auctionata, an online auction house. Although Artspace showed early promise by raising upwards of $12 million in funds, this past year has turned out surprisingly anemic sales figures: just $577,000 in total annual sales, according to a leaked chart. In addition, since Artspace creates income from commissions, the actual annual revenue for the site would presumably be only a fraction of this six-figure sales number.
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