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A Brave Post-Neuendorf World

After ousting the founding Neuendorf family from Artnet, former Goldman partner Andrew Wolff talks about why he’s taking the digital art market platform and database company private, despite it having no profits, no growth, and a shrinking talent pool.

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Andrew Wolff
Andrew Wolff and his partners will have to figure out a way to grow revenue and EBITDA to support a $100 million valuation. Then they’ll have to figure out a way to expand enough to create a valuation that gives Wolff—and his investors—a meaningful return. Photo: Piranha Photography, Courtesy of Beowolff Capital
Marion Maneker
June 4, 2025

The long battle for Artnet seems to have finally ended with Rüdiger Weng’s decision to sell his nearly 30 percent stake in the company to Andrew Wolff’s Beowolff Capital. The deal, which Weng claims gave him 150 percent profit on his stake, allows Wolff to begin the process of taking Artnet private. At the same time, Wolff announced that he had gained majority control of Artsy, a quite different digital company in the art space. Neither company is new. So it’s fair to wonder what Wolff sees in these companies that the financial markets do not.

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