As you might have heard once or a thousand times, it’s been a humbling year or so in the art market. Naturally, that economic climate has had downstream consequences for the adjacent businesses that support the market and its actors, including Artnet, the German auction database, news site, and sales brokerage business. Within the art industry, the brand remains very powerful, possibly as esteemed among insiders as Sotheby’s and Christie’s are with the general public. But according to a newly released financial report, the company has struggled, losing about $1 million in 2023—a reversal from a small net profit the year before—due in part to declining revenue in its auction and private sales business. Also buried within the report, Artnet revealed it took loans totaling approximately $2 million from a third party, a senior executive, and the former C.E.O., presumably to cover operating losses.