E-Commerce Boosting the Art Market

Art market is booming with innovative wave of internet and technology. E-commerce has enabled online art galleries and auction houses to yield high-profit. With the increase in number of young buyers who are looking forward to purchasing paintings without losing their cozy couch, online art galleries are taking momentum and burgeoning at a steady rate in the flourishing art market.      

According to a recently conducted research by British insurer Hiscox, it has been forecasted that online art sales is expected to increase up to $3.76 billion annually in the next five years. Many art curators and business technocrats are moving towards e-commerce website to earn a decent profit. No doubt that art sales is increasing with growing number of young customers. New e-shops that are selling art online are focusing on mid-range of art to target all middle-class customers that play a key role in augmenting the gallery revenue.

E commerce- A new approach to connect with art

This is true that online art is experiencing a great thrill in the art market. The ongoing advancement in web technology is making user’s life easier. Even more, no corner remains untapped with every day transforming web trends. The art market, which has an esteemed dignity for being difficult to access in both physical and culture perspective, is now steadily undergoing into the digital space which in turn proves to be a big success for the respected online art galleries. The anticipated profit can be easily seen by considering the report released by international specialist insurance group Hiscox. The internet art sale which today account for only 2% of the entire art market, will likely increase by 150% by 2017. This study has also revealed that online art sale might attain a gross value close to $2.1 billion in the upcoming years. From the intensive research report, it has been proved that e-shops exhibiting  affordable art for sale is a new bandwagon that yield high profit to art dealers, art exhibitors, curators and investors.

New channels thriving the art market

To most of the art curators and dealers, going online simply means expanding physical art galleries, showcasing a wide range of artworks and thereby capitalizing on the online reputation in the art market. Not only that, most of the galleries are collaborating with online eCommerce top-players like Amazon and Ebay to exhibit their paintings. The rage in digitization is pushing artwork sellers to reach new market segments.  

Building reputation and ensuring authentication are keys to attain success in the digital age

In order to target a large geographic audience, it is imperative for online art sellers to focus on building their image in this transforming digital ecosphere. In addition to this, online art galleries need to focus on security measures to assure safe transactions.  Do you know most of the art buyers are reluctant to purchase art from online art gallery because of authenticity and security factor! Around 80% of art collectors consider authenticity and provenance of art when they are purchasing art online. Also, they want to acquire more information about the artwork condition–option which still not available on major eCommerce websites. When you are approaching an eCommerce for your art gallery, it is recommended that you should collaborate with famous art curators that have a reputed image in the art market. It not only builds your eCommerce brand image, but also improves credibility in the mind of customers.   

In a nutshell, the fierce competition in the online field has strong influence in the art market. Today, a large number of art curators and dealers are looking forward for developing e-shops to garner immense profit and provide great convenience to the end-users.