By: Elay Eli Adar
CEO
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UNDER 1000 Gallery

UNDER 1000 Gallery has revolutionized the art world with its innovative platform, which allows anyone to purchase original, high-quality art for no more than 1,000$ a piece. The company has had tremendous success in Israel and is now going international.

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Minimum investment: $10,000
Type:Equity   
Stage:Seed
Category:Culture & Sports
  • Campaign Highlights
  • Pitch
  • Team
  • Financial data
  • The Deal
  • Documents
  • Disclosures
  • Investors 5
  • Updates

Campaign Highlights

The company that Lets Anyone Invest in the Next Picasso

UNDER 1000 Gallery has created a cultural revolution in Israel, with a first-of-its-kind platform that directly connects hundreds of promising young artists to a huge, untapped audience of art enthusiasts, eager for access to original works of art at an affordable price.

 

Proof of Viability - A Well-Established and Successful Chain of Galleries with Thousands of Customers and Hundreds of Artists

Under 1000 Gallery opened its first gallery in Tel Aviv five years ago. Within a very short time it reached tremendous success and can now boast of many achievements. These include:

Establishing four successful galleries in Israel and the United States; selling over 12,000 original pieces by hundreds of artists; showing significant revenue and exponential growth; and most crucially, creating a worldwide community of great artists, who have been carefully selected by a professional team of experts.

 

Following the Phenomenal Success in Israel - Under 1000 Gallery is now Going Global

In only five years, Under 1000 Gallery has opened three successful galleries in Israel's prime locations. Now the company is breaking into the international art market by expanding to San Francisco and establishing an innovative digital platform – the world's first online marketplace for art. The platform will connect artists, curators and buyers worldwide and allow anyone to purchase original, quality art for no more than 1000$.

 

A Huge and Rapidly Growing Global Market

UNDER 1000 Gallery has revolutionized the rapidly growing art market – currently valued at tens of billions of dollars a year – by creating a unique online trading arena that directly connects artists and curators to buyers. The company is focused on addressing a new generation of buyers, who are abandoning the traditional galleries and buying their art directly from the artists.


 

Pitch

The idea

Until recently, the traditional art market was inaccessible to most people. High prices and limited exposure meant that only an exclusive circle of people could afford to purchase original art, and even fewer artists had the good fortune of displaying their artwork in galleries.

However, all that changed about five years ago with the opening of Under 1000 Gallery.  This art gallery changed the rules and opened the art world to the public, letting heretofore undiscovered artists display and sell their work, and enabling countless more homes to enjoy original, high-quality art for no more than 1,000$ per piece.

The pioneering platform has changed the art world in four main ways:

1. Making the pricey and elitist’ art world accessible to the public and enriching thousands of homes with unique creations, which would have probably gone unseen without the platform provided by the gallery.

2. For the first time, a stage is provided for hundreds of talented artists to exhibit their work and make a living from their artistic talent.

3. UNDER 1000 Gallery has created a clear 'Benchmark' in the breached art market by professionally pricing the artwork, thus enabling the public to purchase art with peace of mind.

4. Allowing the public to take part in the young and emerging art market by purchasing original art at an early stage and enjoying the rise in price value.

UNDER 1000 Gallery is now the main platform for hundreds of artists, enabling them to exhibit and sell their art to the public and even make a decent living.

 

The Need

We all spend a lot of money on home decor and want our homes to reflect our unique taste and style. A terrific way to do this is by obtaining original artwork that will bring character and inspiration to our homes. However, the current art market suffers from two major problems that prevent most people from achieving this:

1. The price of the artwork displayed in the galleries is very high and will usually start at no less than 5,000$.

Today, the art market is dominated by traditional galleries, which represent individual artists in restrictive agreements, alongside sales houses and art dealers who control the secondary market. The main objective of these mediators is to sell the art at the highest price. Thus, the art market became expensive and alienating, enabling only those with the means and a deep understanding of the field to purchase original art.

2. All artists long for a stage and recognition, but only a very small percentage of them will ever get the chance to present their work in a gallery. This is because the galleries obviously prefer to represent artists who have already succeeded and to enjoy their success. Thus, a distorted situation arises, in which the vast majority of artists, however talented, do not receive recognition, sometimes even until after their death.

 

The Solution

A first-of-its-kind platform and online marketplace that lets artists, curators, and buyers from all over the world display and trades original art, without mediation, clarification, and interpretation – at an affordable price of no more than 1000$ a piece.

 

The Galleries:

Under1000 Gallery was founded some 5 years ago in the heart of the Florentine neighborhood of Tel Aviv. The gallery’s purpose is to make original high-quality local art accessible to the wide public, with the unique concept that all artwork in the gallery is sold within a limit of up to 1000$.

The gallery quickly became home to hundreds of promising young Israeli artists, whose works are displayed alongside well-known artists such as Menashe Kadishman, Yigal Tumarkin, and Leah Nickel.

Under 1000 Gallery offers a distinctive platform to local artists. The gallery’s display of works in a marketplace style showcases a wide variety of artwork. This allows the spectator to relate to the artwork in an unmediated way, and each person can find the artwork they truly connect with and which speaks to them personally.

Some of these young artists, whose first works were displayed in the Under 1000 galleries, have become leading artists in Israel and their pieces are already being sold for tens of thousands of dollars.

The company currently manages three successful branches in Israel and has opened a new gallery in San Francisco this year. To date, the galleries have sold over 12,000 original pieces by more than 800 artists.

 

 

The Digital Platform:

Following the galleries' great initial success, Under 1000 is now developing an online platform (marketplace) that will connect the artist community and curating community with buyers from all over the world, as demonstrated in the following diagram:

 

 

 

 

 

The innovative platform accesses the online art world through sophisticated technological tools, including augmented reality visualizations, which allows anyone and everyone in the world to purchase the art that suits them.

All works of art are reviewed by a team of expert curators, who select the most promising artists for their clients and value each work professionally and reliably.

 

How It Works

Under1000 is currently developing a platform that connects the artist community to customers through the curator community (Marketplace). Artists can apply to display their work on the site, after which the gallery's professional curators review and approve or reject the request. Once approved, the artist's works will be presented on the platform and put up for sale.

- Customers will have the opportunity to see the artists' works and order online. In order to create quality control, the company is establishing a community of freelance curators, who will visit the artist's studio and rate the quality of the artwork and the artist.

As shown in the following diagram:

 

- In order to enrich the user experience, the company is currently developing visualization of the work using AR technology, which allows the client to make an informed decision and match the art to home or office design.

- Users will have the opportunity to view the artist's sales history on the platform and learn about the level of demand for their creations

- The platform will serve as ESCROW to ensure that the shipment is completed to the customer's satisfaction.

- The customer will have the opportunity to rate the purchase experience.

- The platform will allow curators to offer online curatorial services, enabling clients to receive professional advice in the selection of works.

 

Curators Community:

One of the goals of the platform is to manage a community of curators (freelancers), whose role is to serve as quality control in two stages:

1. Online examination of the applications submitted by the artists.

2. Actual visit to the artist's studio to ascertain the quality of the work

- The curatorial community will have the opportunity to manage digital collections, which will add a quality stamp to the purchased works and serve as a buyer's guide.

Furthermore, the platform will also offer the possibility of receiving curatorial services, to match the artwork to the client's home or office. For this consultation, the curators will be rewarded with a commission, rendering them the "sales representatives" of the platform.

 

Under 1000 in the Media

 

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Team

Eilay Eli Adar
Founder of UNDER 1000 Gallery, CEO and Director of Artist Community
Biography
Founder of "UNDER 1000 Gallery ", a serial entrepreneur and a visionary, who recognized the huge demand for accessible original art, and the need of young artists for a platform to present in their works. Adar has extensive experience in managing artists from various fields, including Liraz Dror, who has become Castro Israel‘s presenter, Shir Elmalih, who became the Israeli Tourism Ministry‘s representative and Bazooka Joe - one of the most talked-about artists in Israel.

  • Founder
  • Director
Yoad Bar Noy
Chif Curator
Biography
In 2013, Bar Noy managed both the START art collection of Serge Tiroche, as well as the Tiroche DeLeon International Investment Fund‘s collection, that mostly consists contemporary art from developing countries. Bar Noy started his journey in the art world in 2010, as the Asia representative of the Israeli Zemack Gallery, where he was responsible for business developing, curating art shows in art fairs and private venues in order to promote the gallery’s artists in Asia. In 2013, Bar Noy relocated to set up and curate the new San Francisco-based ZK Gallery. Yoad has a Bachelor of Arts and East Asia Studies from Tel Aviv University, and is a graduate of the "Koteret" School of Journalism and Communication. In addition, he graduated from The Curatorial and Museum Studies program at the Tel Aviv-Jaffa Academic College. He speaks Chinese, English and Hebrew. In June 2019, Yoad has relocated on behalf of "UNDER 1000 Gallery" to San Francisco, USA, to open the gallery‘s first branch outside Israel and establish its local artist community.

  • Director
Israel Peretz
Partner, Marketing and Business Development Manager
Biography
A serial entrepreneur and active partner in UNDER 1000 Gallery. In the early 2000s, Peretz took part in establishing the first platform in Israel for updating real-time sports results called "LiveGames". He then established a Peer to Peer platform for direct legal gambling, which was eventually purchased by Teddy Sagi In 2010, Israel established a platform that allows WordPress-based publishers to automatically create native apps for iPhone and Android without working with code. The company operated as a product company and achieved impressive results, with over 100,000 sites that installed its product. In 2016, Israel joined UNDER 1000 Gallery with the goal of expanding operations, establishing additional branches, building management systems and setting up online sales activity.

  • Founder
  • Director
Eliad Yahalom
Partner, strategic investor and board member
Biography
Eliad is a well-known entrepreneur who combines his experience in the business world with his passion for the art world. At the age of 26, he set up his first marketing and sales business in the United States, and was chosen as one of Israels‘ leading photographers under 30. Eliad has traveled around the world from an early age, which stirred his mind and opened his eyes to new and intriguing avenues. This affects him to this day in entrepreneurship, as the business world in which he engages touches a variety of fields. This, of course, is expressed in the diversity of his photographic - artistic work. Eliad also held countless solo exhibitions, including the opening event of the Tel Aviv "Tachan" complex, and the opening of the "Givat Hatachmoshet" Museum (National Heritage Site) in Jerusalem. Tel Aviv Mayor Ron Huldai, Culture Minister at the time, Limor Livnat, and former Jerusalem mayor, Nir Barkat, all attended the events.   Eliad holds several degrees and diplomas: Bachelors degree in international relations & political science, Executive MBA from the Hebrew University and Master of Laws (LL.M). He is also a graduate of the Gabra School of Photography, and a graduate of the Graphic Design "Mentor" collage.

  • Director
Meir Zach
CFO and active partner
Biography
Meir is a graduate of Tel Aviv University in Accounting. He gained his professional experience in the field as a senior in the Economic Department of EY Israel. Since then, he has been a financial advisor to various ventures, and has been an entrepreneur in the international market and high-tech industry. In 2003, Meir moved to London to set up "termination" infrastructures for international communication in England and Australia. Meir is also a partner and owner of an Israeli company specializing in complex information services and VOICE systems.

  • Advisor
Ravid Mishan
Gallaries Manager
Biography
Ravid has extensive experience in managing, establishing and training teams, as well as managing project procurement and leading complex processes. In recent years (2018-2013) Ravid served as VP of Sales and Logistics at Ultra Lighting, a manufacturer of lighting fixtures designed for the private and commercial sectors. He also worked in procurement management, implementation of agreements, logistics and sales management, primarily with interior designers and architects. From 2004 to 2012 Ravid served as manager of the "Safeda" showroom, a company engaged in marketing and selling sanitary ware, flooring and accessories to private clients designers and architects. In his previous position (2003-1999), Ravid served as Procurement Manager at Promarket, the leading company in the country to produce large-scale events for leading companies in the market, managing large projects such as the Coca-Cola Music Village, Cellcom Festival and more. Rabid holds a B.A. in Economics and Communication.

Financial data

The Deal

Documents

Disclosures

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The financing rounds made through the ExitValley platform are in accordance with a model of statutory exemption from publishing a prospectus pursuant to sections 15A(A)(1) and 15A(A)(7) to the Israeli companies law - 1965.
Under our model, the disclosure of detailed information on the company and information about the investment in each round of financing are limited to not more than 35 investors which are not qualified investors and the round of financing in not in the format of an offering arrangement ("רכז הצעה") as defined in the securities law
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