How is the online art market doing?

Until a few years ago, digitally created works appeared very discreetly and only at events with electronic music as a theme. Before that, it was not even possible to sell art online. But today it’s completely different. The Internet generation has given birth to a large number of artists who are all equally gifted and have a sense of creativity and originality. That’s when the online art gallery was born. It also welcomes a large number of virtual visitors who can then admire the original works on display as much as they wish.

Online art sales sites

It seems that the art market is making a lot of money online today. This is one of the reasons why more and more galleries are now open. There are for example Paddle8, Amazon Art or Artsy. And, there are also more private, more independent sites. In all cases, whether on public or private sites, art collectors are flocking in. As soon as a work of art interests them, they also pay a high price for it. According to surveys, a single online gallery can make more than 200,000 euros in sales. So it’s a market that’s really healthy right now.

Adapting to digital

The traditional players in the art world have experienced a strong crisis. Indeed, this sector was almost dead. Sales were practically non-existent. If today this market has become very interesting, it’s thanks to digital, among other things. Consumption patterns have evolved and the ever advancing technology is making it easier to sell works of art online. So now it’s a very productive and interesting market. The sale of paintings online is a regular occurrence, whereas it was experiencing a serious slowdown in the traditional mode. It’s a market that’s growing now. A survey was conducted in 2016 on this sector and it generated almost $4 billion in one year. Apparently, the digital world is dominating, because absolutely everything is now being done by these means. In order to regain ground, it is now vital for a company with traditional methods to convert to digital.

Art online: a good investment?

Because it is now the trend to buy online, buyers are not being asked to wait. It’s a very profitable market today, but what about tomorrow? It has been mentioned that the online art market is about $4 billion now. But in the next few years it will be close to $10 billion. In fact, a report has said that the online art market will grow even more. So investing in art is being considered by many companies. It’s a market that will pay off in the near future, and insurers are guaranteeing it.

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Art as cultural expression