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Business & Economics

How global art auctions expose FX fees imbalance

GlobalData
Summary
Nutrition label

77% Informative

iBanFirst Bank is on a mission to address the imbalance in the FX market.

Vivek Savani , UK Country Manager, says FX fees add 3%-4% to the transaction.

Art Basel and UBS Global Art Market Report 2025 by Arts Economics is a good starting point.

US and UK lead the way with 43% and 18% of global sales by value.

iBanFirst is a serious competitor to the traditional bank offering for SMBs .

Its core banking platform offers fast and secure multicurrency transactions.

It wins on cost versus banks, thanks to no setup fee, no tiered monthly subscription costs and no transfer fees.

iBan first USP is a combination of technology mixed with the human touch.

iBanFirst could argue it's not a specialised tool for SMBs because it tries to cater to vastly different audiences.

Ebury offers forward contracts and other FX hedging tools and offers mass payment capabilities.

VR Score

77

Informative language

75

Neutral language

65

Article tone

informal

Language

English

Language complexity

46

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

Affiliate links

no affiliate links