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Date: Thu, 24 Jul 2025 00:15:19 +0100
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Winston Art Group, a major art appraisal firm founded by Elizabeth von 
Habsburg 15 years ago, has announced a merger with Artory, the art data firm 
founded nine years ago by Nanne Dekking. The new company, Winston Artory 
Group, hopes to take advantage of Artory’s data and technology to provide 
Winston’s client base with greater visibility into the value of their art 
holdings. I’ll try to explain more below.





July 23, 2025








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PREVIEW VERSION


For full access to Puck Inner Circle content, subscribe today.




 	Marion Maneker


Welcome back to Wall Power’s Inner Circle. I’m Marion Maneker.

Winston Art Group, a major art appraisal firm founded by Elizabeth von 
Habsburg 15 years ago, has announced a merger with Artory, the art data firm 
founded nine years ago by Nanne Dekking. The new company, Winston Artory 
Group, hopes to take advantage of Artory’s data and technology to provide 
Winston’s client base with greater visibility into the value of their art 
holdings. I’ll try to explain more below.

But first, a reminder that we’ve got only a handful of Inner Circle tickets 
left for our upcoming art summit…




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We’ve added some speakers to The Art of Influence, the one-day (10 a.m. to 4 
p.m.) event Puck is holding in partnership with the FLAG Art Foundation at 
SECOND in Chelsea on September 15. This will be a candid discussion about 
the current state of the art market and...




Can’t see the full story? For full access to Puck Inner Circle content, 
subscribe today.


JOIN THE INNER CIRCLE





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WAG the Art Market



The merger of Winston Art Group with Artory is a possible step toward the 
greater financialization of art. But will art ever really be an “asset”?




 	Marion Maneker




Winston Art Group, one of the market’s two main art appraisal firms, has 
announced a merger with Artory, an art and data venture originally backed by 
Hasso Plattner, to forge the new firm called—wait for it—Winston Artory 
Group. The combined company aims to offer wealth managers greater visibility 
into the asset value of their art. What’s interesting about the deal, 
however, is that it arrives as the art market has...




JOIN THE INNER CIRCLE






Finally, a media podcast about what’s actually happening in the media—not 
the oversanitized, legal-and-standards-approved version you read online. 
Join Dylan Byers, Puck’s veteran media reporter, as he sits down with TV 
personalities, moguls, pundits, and industry executives for raw, honest, 
sometimes salacious conversations about the business of media and its 
biggest egos. New episodes publish every Tuesday and Friday.







The industry’s go-to source for unflinching reporting on the trillion-dollar 
business of artificial intelligence - perhaps the single most important 
technology of our time. Ian Krietzberg, the powerhouse journalist behind The 
Deep View, delivers twice-weekly insights into the latest dealmaking and 
breakthroughs in A.I., and how the intersecting worlds of finance, 
entertainment, media, and politics are being transformed in its wake.




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Trump’s WSJ Endgame



ERIQ GARDNER




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Phillips’ Auction Switcheroo



MARION MANEKER




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NFL’s Rights War



JOHN OURAND








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max-height: 0px; overflow: hidden; mso-hide:all;">Winston Art Group, a =
major art appraisal firm founded by Elizabeth von Habsburg 15 years ago, =
has announced a merger with Artory, the art data firm founded nine years =
ago by Nanne Dekking. The new company, Winston Artory Group, hopes to =
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Winston=E2=80=99s client base with greater visibility into the value of =
their art holdings. I=E2=80=99ll try to explain more below.</div>
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style=3D"margin:0;">July 23, 2025</p></div>
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3ZXIrLStMRUFEUyslMjg3JTJGMjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1=
c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NyUyRjIzJTJGMjUlMjlcdTAwMjZ1dG1fbWVka=
XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/2718345db07e869c2bac9575e3261f6ceebe25d7d35=
8440a3c6b6ebec507afba" target=3D"_self" =
style=3D"color:#d40000;text-decoration:none;">Marion Maneker</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;">Welcome back to Wall Power=E2=80=99s Inner Circle. =
I=E2=80=99m <strong>Marion Maneker</strong>.<br/><br/>Winston Art
Group, a major art appraisal firm founded by <strong>Elizabeth von =
Habsburg </strong>15 years ago, has announced a merger with Artory, the =
art data firm founded nine years ago by <strong>Nanne Dekking</strong>. =
The new company, Winston Artory Group, hopes to take advantage of =
Artory=E2=80=99s data and technology to provide Winston=E2=80=99s client =
base with greater visibility into the value of their art holdings. =
I=E2=80=99ll try to explain more below.<br/><br/><em>But first, a =
reminder that we=E2=80=99ve got only a handful of
Inner Circle tickets left for our upcoming art =
summit=E2=80=A6</em></p></div>
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cellspacing=3D"0" role=3D"presentation" =
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style=3D"padding-bottom:32px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"30%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:2px solid =
#d40000;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"width:100%;"><div class=3D"r" align=3D"center"><div =
style=3D"max-width:552px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1753304768663_AOI%20additional%20talent_01K0WHQ87AMMZ0ZDHNDWB5BSZB.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"" title=3D"" height=3D"auto"/></div></div>
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<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:7px;padding-top:30px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;">We=E2=80=99ve added some speakers to The Art of =
Influence, the one-day (10 a.m. to 4 p.m.) event Puck
is holding in partnership with the FLAG Art Foundation at SECOND in =
Chelsea on September 15. This will be a candid discussion about the =
current state of the art market and...</p></div>
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align:top;">
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cellspacing=3D"0" role=3D"presentation" =
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"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
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al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
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style=3D"margin:0;"><em>Can=E2=80=99t see the full story? For full =
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</p></div>
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05LQUdZT1pHMU54aG92TXAtbVhGZzF3Yz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
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border-top:2px solid =
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n:center;width:60%;word-break:keep-all;letter-spacing:normal;"><span =
style=3D"word-break:break-word;line-height:28px;">JOIN THE INNER =
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cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
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<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:12px;vertical-align:top;border-radius:0px;">
<table class=3D"j n" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"width:100%;"><div class=3D"r" align=3D"center"><div =
style=3D"max-width:600px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZT1pHMU54aG92TXAtbVhGZzF3Yz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
luc3Rvbi1hcnRvcnktYmV0cy1iaWctb24tYXJ0LWFzLWFuLWFzc2V0LWNsYXNzLz91dG1fY2F=
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OVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4N=
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VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsIml=
udGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjg1MDQ2fQ/1607a=
810d4f6593ab9848716108cf1ac50342f41d05543d65cc54d5f603096aa" =
target=3D"_blank"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
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style=3D"display:block;height:auto;border:0;
width:100%;" width=3D"600" alt=3D"WAG the Art Market" title=3D"WAG the =
Art Market" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:8px;padding-left:24px;padding-right:24px;padding-=
top:24px;width:100%;"><div class=3D"r" align=3D"left"><div =
style=3D"max-width:142px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1735839782111_ice-badge_01JGM1T57TV42CK4RX9AZ2QJ1N.png" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"142" =
alt=3D"Inner Circle Exclusive" title=3D"Inner Circle Exclusive" =
height=3D"auto"/></div></div>
</td></tr></tbody></table>
<table class=3D"gq p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;padding-left:24px;padding-right:24px;text-al=
ign:center;width:100%;"><h1 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:48px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
o-line-height-alt:58px;"><span style=3D"word-break:break-word;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZT1pHMU54aG92TXAtbVhGZzF3Yz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
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yUyRjIzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3=
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target=3D"_blank" style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener"><span =
style=3D"word-break:break-word;position:relative;" =
data-position=3D"60-0-2" data-qa=3D"tinyeditor-root-element"><span =
style=3D"word-break:break-word;">WAG the Art =
Market</span></span></a></span></h1>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-left:24px;padding-right:24px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:19px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:29px;"><p style=3D"margin:0;">The =
merger of Winston Art Group with Artory is a possible step toward the =
greater
financialization of art. But will art ever really be an =
=E2=80=9Casset=E2=80=9D?</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
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ff;border-bottom:8px solid transparent;border-left:24px solid =
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transparent;color:#000000;width:600px;margin:0 auto;" =
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lign:
left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;vertical-align:top;border-radius:0px;">
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cellspacing=3D"0" role=3D"presentation" =
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eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#d40000;font-family:&#39;PuckSerifDi=
splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:8px;padding-right:8px;padding-top:8px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZT1pHMU54aG92TXAtbVhGZzF3Yz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
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3ZXIrLStMRUFEUyslMjg3JTJGMjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1=
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XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/2718345db07e869c2bac9575e3261f6ceebe25d7d35=
8440a3c6b6ebec507afba" target=3D"_self" =
style=3D"text-decoration:none;"><img alt=3D"Marion Maneker" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
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.png" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
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ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
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href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZT1pHMU54aG92TXAtbVhGZzF3Yz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
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kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/2718345db07e869c2bac9575e3261f6ceebe25d7d35=
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style=3D"color:#d40000;text-decoration:none;">Marion Maneker</a>
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<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
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Artory, an art and data venture originally backed by <strong>Hasso =
Plattner</strong>, to forge the new firm called=E2=80=94wait for =
it=E2=80=94Winston Artory Group. The combined company aims to offer =
wealth managers greater visibility into the asset value of their art. =
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as the art market has...</p></div>
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CIRCLE</span></span></a></div>
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