'A Quest for Tranquility' - David Manners
There are very few cultural mediums that have been able to remain untouched by the effects of the digital revolution. New innovations in technology have forced mediums such as film, television and publishing to reconsider their business models. However, up until very recently the art market was one such medium that had, to a certain extent, been able to remain in a similar position before and after the advent of the internet. In 2013 The Economist highlighted that:
‘The art market seems impervious to the ascent of e-commerce: Sotheby’s and Christie’s have both enabled online bidding at auction, but online art sales account for just 10% of the art trade.’ (The Economist, 2013)
'Abstract Deer 18 (Sculptural)' - Paula Horsely
How so much has changed in such a short time. Today the global digital art market is worth $3.27 billion. Sotheby's and Christie's now flourish in the digital marketplace. More and more websites which allow the trading of art are emerging, and it seems that despite a modest start there is now a powerful digital movement that places art buying and selling in a context which is more accessible, efficient and expeditious. Online art trading is becoming an increasingly accepted method of art dealing. There is also lots of potential for art dealers who are not already online to become involved and expand their business. We have already seen some big names enter the digital market with the likes of Saatchi Online, the famous London gallery, which was launched in 2006 and promotes the artworks of many online artists. It has since moved into the advice business and has recently released an e-book entitled ‘How to Collect Emerging Art in 7 Easy Steps’ which is written by Rebecca Wilson who is a director of the gallery and online curator.
Saatchi online is also promoted as a place for first time art buyers and therefore capitalises on its appeal to mass audiences. Art as a monetary investment the book deals with last in its ‘Art as an Investment’ chapter. It states that buyers should buy artworks that they love but if the investment aspect of art is an area which appeals to anyone then the advice is to buy works of art from new and emerging artists.
'Far Away Is Close At Hand' - Andrew Mcneile Jones
However, some dealers are still reluctant to move away from the traditional art gallery approach. There are clearly obvious concerns for anyone who wishes to purchase art online and these largely involve issues of authenticity and places of origin. These matters can be huge obstacles for online trading because trust is very important when purchasing high value art. It is very important that a good reputation precedes the purchase of high value artworks.
'Lenny' - Hugo Pondz