/ THE PROVENANCE INDEX™ · VOLUME I · Q2 2026
Which intermediaries actually preserve value?
A rating system for every major art-world intermediary — auction houses, mega-galleries, mid-tier galleries, art fairs, NFT platforms, and art-investment platforms. 59 institutions rated across five dimensions — Authenticity / Due Diligence, Pricing Transparency, Artist Treatment, Collector Service, Liquidity / Resale Posture. Sourced from auction records, ArtTactic data, ArtsEconomics reports, ArtTrack provenance research, and Protagonist Art's proprietary collector-cohort framework. Updated quarterly.
Grade
Institution
Score
Tier
A-
Christie's
Auction House · Mega · Founded 1766
89/100
Excellent
→
A-
Sotheby's
Auction House · Mega · Founded 1744
88/100
Excellent
→
B+
Phillips
Auction House · Mega · Founded 1796
85/100
Good
→
B+
Bonhams
Auction House · Mid-Major · Founded 1793
83/100
Good
→
B+
Heritage Auctions
Auction House · US · Founded 1976
83/100
Good
→
B
Doyle
Auction House · US · Founded 1963
80/100
Good
→
B+
Swann Galleries
Auction House · Specialty · Founded 1941
82/100
Good
→
B
Hindman / Freeman's
Auction House · US · Founded Hindman 1982; Freeman's 1805
80/100
Good
→
B-
Stair
Auction House · Boutique · Founded 2010
75/100
Good
→
A
Hauser & Wirth
Gallery · Mega · Founded 1992
92/100
Excellent
→
A
David Zwirner
Gallery · Mega · Founded 1993
91/100
Excellent
→
A-
Gagosian
Gallery · Mega · Founded 1980
89/100
Excellent
→
A-
Pace Gallery
Gallery · Mega · Founded 1960
88/100
Excellent
→
A-
White Cube
Gallery · Mega · Founded 1993
87/100
Excellent
→
B+
Lévy Gorvy Dayan
Gallery · Mega · Founded 2017 (as Lévy Gorvy)
83/100
Good
→
B+
Acquavella Galleries
Gallery · Mega · Founded 1921
83/100
Good
→
A-
Marian Goodman Gallery
Gallery · Tier 1 · Founded 1977
88/100
Excellent
→
B+
Matthew Marks Gallery
Gallery · Tier 1 · Founded 1991
85/100
Good
→
B+
Lehmann Maupin
Gallery · Tier 1 · Founded 1996
84/100
Good
→
B+
Andrew Kreps Gallery
Gallery · Tier 2 · Founded 1996
83/100
Good
→
B+
Petzel
Gallery · Tier 2 · Founded 1994
83/100
Good
→
A-
Karma
Gallery · Tier 2 · Founded 2011
87/100
Excellent
→
B+
JTT
Gallery · Emerging · Founded 2012
83/100
Good
→
B+
Tina Kim Gallery
Gallery · Tier 2 · Founded 2001
84/100
Good
→
B+
P.P.O.W
Gallery · Tier 2 · Founded 1983
83/100
Good
→
B
Bortolami
Gallery · Tier 2 · Founded 2005
80/100
Good
→
B+
The Hole
Gallery · Emerging · Founded 2010
82/100
Good
→
B-
Marlborough Gallery
Gallery · Legacy · Founded 1946
74/100
Good
→
B+
Artsy
Online Platform · Marketplace · Founded 2009
84/100
Good
→
B
Artnet
Online Platform · Database · Founded 1989
80/100
Good
→
C+
Saatchi Art
Online Platform · Marketplace · Founded 2006
67/100
Mixed
→
B-
Singulart
Online Platform · Marketplace · Founded 2017
74/100
Good
→
B
1stDibs (Art)
Online Platform · Marketplace · Founded 2000
78/100
Good
→
A
Art Basel
Art Fair · Flagship · Founded 1970
94/100
Excellent
→
A-
Frieze
Art Fair · Flagship · Founded 2003 (London)
89/100
Excellent
→
A-
TEFAF (Maastricht)
Art Fair · Old Masters · Founded 1988
88/100
Excellent
→
B+
The Armory Show
Art Fair · US · Founded 1994
83/100
Good
→
B+
NADA (New Art Dealers Alliance)
Art Fair · Emerging · Founded 2002
83/100
Good
→
B
Independent
Art Fair · Emerging · Founded 2010
80/100
Good
→
B+
SuperRare
NFT Platform · Curated · Founded 2018
83/100
Good
→
B
Foundation
NFT Platform · Curated · Founded 2021
78/100
Good
→
B-
OpenSea
NFT Platform · Open Marketplace · Founded 2017
75/100
Good
→
B-
Nifty Gateway
NFT Platform · Curated · Founded 2018
74/100
Good
→
B-
Christie's 3.0
NFT Platform · Auction House · Founded 2022
75/100
Good
→
B-
Sotheby's Metaverse
NFT Platform · Auction House · Founded 2021
74/100
Good
→
D+
KnownOrigin (Defunct / Restructured)
Defunct NFT Platform · Founded 2018
48/100
High Risk
→
F
Async Art (Defunct 2022)
Defunct NFT Platform · Founded 2019
18/100
Critical
→
B-
Masterworks
Art Investment Platform · Founded 2017
75/100
Good
→
B-
Public.com (Art Investments)
Art Investment Platform · Founded 2019 (Public); Art 2022+
74/100
Good
→
F
Otis (Defunct 2022)
Defunct Investment Platform · Founded 2018
18/100
Critical
→
B+
Wright (Auctions)
Auction House · Design · Founded 2000
83/100
Good
→
C+
LiveAuctioneers
Auction Platform · Multi-House · Founded 2002
67/100
Mixed
→
C+
Invaluable
Auction Platform · Multi-House · Founded 1989
66/100
Mixed
→
B+
Turner Prize (Tate)
Art Prize · Institutional · Founded 1984
83/100
Good
→
B+
Hugo Boss Prize (Guggenheim)
Art Prize · Institutional · Founded 1996
83/100
Good
→
A-
Hyundai Commission (Tate Modern)
Institutional Commission · Founded 2015
87/100
Excellent
→
B
Galerie Lelong
Gallery · International · Founded 1981
80/100
Good
→
A-
Perrotin
Gallery · Mega · Founded 1990
87/100
Excellent
→
F
Ace Gallery (Defunct 2017)
Defunct Gallery · Founded 1967
15/100
Critical
→
The best intermediaries preserve. The worst extract.
Every auction house claims best-in-class due diligence. Every gallery claims artist-first values. Every NFT platform claims curation. The Provenance Index makes the actual practice visible — so serious collectors can build relationships with institutions that preserve value.