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Authenticity for the Art Market

Authenticity for the Art Market. Curtis G. McConnell curtis@greatmastersart.com. Doug Komen doug@greatemastersart.com. The Authenticum. We have created a system for scientific art authentication, identification and imaging called The Authenticum.

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Authenticity for the Art Market

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  1. Authenticity for the Art Market Curtis G. McConnellcurtis@greatmastersart.com Doug Komendoug@greatemastersart.com

  2. The Authenticum • We have created a system for scientific art authentication, identification and imaging called TheAuthenticum. • TheAuthenticum is a patent pending system which integrates: • Multispectral Cameras • Custom Imaging Software • Database of Scientific Art Studies • Robotics Image System • Proprietary Methodology The Seracini Automated Mobile Imaging System

  3. The Art Market is Huge… and Broken UHNW Individuals Hold $1.62T in Art Assets (growing to $2.7T by 2023) 30-50% of the $45-65 Billion annual Art Market is forged Buyers need to certain that they are not buying forgeries Sellers want to maximize the market value of their art without liability of selling fakes Less than 2% turnover (compared to 5.7% US housing market)

  4. The Value of The Authenticum Before: $2M Appraisal After Authenticum: $13M Sale Pending Buyers • Eliminates Buying Forgeries Service Providers • Increase Revenue • Differentiator Sellers • Limits Liability • Maximize Market Value Before: $0.6M Appraisal After Authenticum: $10M Sale Pending

  5. The Standard for Art Authentication Consultation Chemistry Report Final Report Contract Imaging Report Findings Layer Gallery Customer Unique ID Blockchain Authenticum Evaluation Imaging Chemistry Research Analysis Great Masters Summary Full Inspection Recommendations Next Steps Proposal Digital X-Ray Visible Raked Visible Infrared False Color IR Ultraviolet SWIR SEM Microscopy Chemical Samples Pigment Analysis Micro Raman Spectra Artist History Period Context Comparative Analysis Attribution Conclusions Insights Prescriptive Care Recommendations Expert Appraisals Authenticity Analysis Final Report

  6. Phased Business Model Phase I Phase II Phase III Authentication Identification Monitoring Flat Fee per Artwork Transaction Fees Subscription The Authenticum Digital Fingerprint Digital Art Tattoo

  7. Bringing Art into the Era of Data Past Present Future Month Week Day to Hour Scientists Manual Processing No automation Fully Automated Imaging Advanced Real-time Visualization AI Assisted Analysis Robotics Automated Data Collection Proprietary Software Solutions We will reduce the time to scientifically authenticate a work of art from a month to less than a day

  8. Double-check Data! The Authentication Market The Art Market is between $45B and $65B a year • Renaissance to Impressionist - Da Vinci to Monet ($7B/year) • Paintings valued at greater than $1M ($3B of $7B Market) • $35M/year Authentication Market – 60% Target Capture • Modernist Art - Modigliani to Francis Bacon ($14B/year) • Paintings valued at greater than $750k ($7B of $14B Market) • $75M/year Authentication Market – 40% Target Capture • Contemporary Art - Jasper Johns to Gerhard Richter ($29B/year) • Paintings valued at $500k and greater ($12B of $29B Market) • $125M/year Authentication Market – 40% Target Capture * Data source TEFAF & Deloitte ArtTactic 2017 Annual Reports

  9. Competition Authenticum Forensic Labs Experts Auctions Strengths Weaknesses Provenance and Catalogues Opinion Based Some Science Lab only Scientific Authentication New Solution Well-Known Conflict of Interest Eliminate Forgeries Partner Differentiator No Conflict of Interest On-Site Services Limit Liability Peer-reviewable Science

  10. Our History and Traction Keynote Speaker at Authentication in Art Multilayer Viewer Mobile Gantry Pilot Provisional Patent Secured Rights to Archive Beta Clients SDMA Augmented Reality Great Masters Founded 2018 1986 1975 1982 2002 2009 2011 2017 2016 2014 2015 Da Vinci’s Adoration of Magi Da Vinci’s Last Supper The Secret Life of Paintings The Search for the Lost Da Vinci Da Vinci’s Battle of Anghiari Michelangelo’s David The Da Vinci Detective

  11. Needs Work! Graphic? Yes/no… The Only Automated Scientific Authentication • Patent Pending System for automated authentication and identification • Scientific Database & Archive: 4,300 master art works & 500 Artists • Comprehensive Methodology – Peer Reviewable and Irrefutable • Internationally recognized leader in scientific authentication • No conflict of interest ONSITE LAB DIGITAL ARCHIVE PROCESSING ANALYSIS TECHNOLOGY CENTER DATABASE SERVICES RESULTS CUSTOMER REPORTS

  12. The Team CurtisMcConnell CEO & Chief Visionary Officer Expert in IT with a focus in supply chain systems, e-commerce, process engineering, BI and data architecture. AB European History from Princeton University. Doug Komen President & CFO Twenty years of experience in the finance and trading industry, running a financial and technology company, and operating in multiple startup environments, including as a principal investor. BS Finance and CIS from Indiana University. Maurizio Seracini Chief Science Officer Pioneer and father of the science of cultural heritage diagnostics. BS Bioengineering from UC San Diego Laurea in IngegneriaElettronica from U of Padua. Dan Bodenheimer VP Product Information Technology leader focusing on translating business needs into technology projects. BA Economics from University of California, Santa Cruz

  13. Needs Work! Go To Market Strategy Phase 3: Increase Capacity Phase 2: New Products Today: Build Pipeline & Product MARKET SIZE $35M Authentication EXAMPLE CUSTOMERS UHNWI Art Dealers SERVICE PROVIDERS Lawyers Insurance MARKET SIZE $235M Authentication $500M ID EXAMPLE CUSTOMERS Auction Houses Galleries SERVICE PROVIDERS Banks Art Appraisers Museums MARKET SIZE $110M Authentication $500M ID EXAMPLE CUSTOMERS Art Funds Family Offices SERVICE PROVIDERS Boutique Art Lenders Financial Advisors Art Advisors Market 36 Customers 2-6 month sales cycle 2 Partners $x Revenue 133 Customers 1-4 weeks sales cycle 2,500 IDs 20 Partners $x Revenue 81 Customers 2-8 weeks sales cycle 500 IDs 8 Partners $x Revenue Goals

  14. Roadmap & Milestones Authenticum for 14th to Impressionists Authenticum Digital Gallery Authenticum for Modern Art Authenticum ID Authenticum for Contemporary Art Retail Authenticum Locations Authenticum Transactional Sales 2020 2021 2019 2018 Acquire Data for Modern Art Digitize Seracini Archive AI for Authentications and ID Improved Gantry (Robotic Arm) Acquire Data for More Contemporary Art ID App for smart phones High-Capacity Gantry (Conveyor Belt) Acquire Data for Contemporary Art Hire more Scientists Refine AI for Authentications More non-Invasive Chemistry Tech Robotics & Software Automation (2.0) Product Fund Raising 1 US $ 2 M Fund Raising 2 US $ 3 M Fund Raising 3 US $ 8 M

  15. Use of FundsPhase 1 $2M (15 to 18 months) • Sales Pipeline - $750k • Prove Product Market Fit • PR- $90k • Direct Sales - $270 • Media Buys & Creative Content - $195 • Launch Educational Campaign (Events) - $90 • Data Acquisition - $400k • Augment Proprietary Database • Digitizing the Archive - $300k • Specific Artist (aka Modigliani) - $100k • Product Development - $600k • Secure IP and Improve Automation • AI Assisted Authentication - $275k • Digital Fingerprint with patented AI algorithm - $100k • Software to support higher volume Authenticum - $100k • Develop v3 Imaging Robotics - $125 • Chemistry Lab - $200k • Improve Operational Efficiency • Lab Equipment - $200k • Operations - $50k (Majority Covered by Revenue $1,150)

  16. Use of FundsPhase 2 $3M (12 months) • Product Development - $2,255 • Secure IP and Improve Automation • AI Assisted Authentication - $275k • Digital Fingerprint with patented AI algorithm - $100k • Software to support higher volume Authenticum - $100k • Develop v3 Imaging Robotics - $125 • Technical Infrastructure - $875k • Improve Operational Efficiency • Lab Equipment - $675k • IT Infrastructure - $200k Data Acquisition - $1,100k • Augment Proprietary Database • Digitizing the Archive - $500k • Database Enhancements/Optimization - $500k • Additional Artists - $100k • Operations

  17. Use of FundsPhase 3 $8M (12 months) • x • x • x • y • y • y • Product • S • $ • zz • zz • zz • Operations

  18. Needs Work! Financials

  19. Summary Great Masters Art created a patent pending system for scientific art authentication, identification & imaging called the Authenticum The only reference database in the world containing both images and physical samples of the most famous works of art. Provides Certainty to buyers and sellers of art. Increase service providers revenue and maximizes art value.

  20. Supporting Materials

  21. What Do We Mean By “Proxy” Proxy for Identification and Condition • Insert story about the “Walking Man”

  22. Definitions: • Great Masters Art Authentication (GMAA) – Company Name • Authenticum – The product line we sell to the Authentication market • Authenticator – consist of cameras, proprietary software & database, robotics, and process • Compendium – the complete body of evidence gathered scientifically and researched on any individual piece of art

  23. Maurizio Seracini • Professor Seracini is the pioneer and father of the science of cultural heritage diagnostics. • UCSD Alumnus of the year three times: in 2006, again in 2008 from the Jacobs School of Engineering and once more in 2011 as a celebration of 50 years/50 leaders. • The New York Times and Time Magazine have written extensive articles about his work and National Geographic made him a fellow in 2008. • Seracini was featured in the BBC and Smithsonian Channel documentary called “The Da Vinci Detective”. • Author Dan Brown included Seracini as the one real character in The Da Vinci Code and then again in his most recent novel Inferno. Dan Brown even coined the term Art Diagnostician to describe Seracini’s innovative and revolutionary approach to the study of art. • Seracini and his work are featured in many video productions including: TED Talks -http://www.ted.com/talks/maurizio_seracini_the_secret_lives_of_paintings?language=en National Geographic Channel - http://video.nationalgeographic.com/video/lost-leonardo-da-vinci Smithsonian Channel -http://www.smithsonianchannel.com/sc/web/show/137976/the-da-vinci-detective 60 Minutes -http://www.cbsnews.com/news/the-lost-leonardo-da-vinci/

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