Growth of the Online Art Market
ArtMarketGuru’s Digital Transformation Services help collectors, artists, art dealers, gallery owners and auctioneers navigate the online world and transform their digital presence.
The move to online has been a dominant force shaping the art industry over the past ten years. Platforms have launched online 3D viewing experiences in collaboration with artists and galleries, one example being V21 Artspace. However, there may still be feelings of uncertainty associated with not seeing a work in the flesh. A key trend that has emerged is that big spenders (spending $100,000 or more) are becoming increasingly comfortable browsing and buying art online. Millennials are rapidly rising to become the new generation of art collectors. New technologies such as Artificial Intelligence (AI) and Virtual Reality (VR) are seeing rippling effects within the art market.