Welcome to the exciting world of online art market trends! Art market has a lot of features. But, in recent years, the online art market has experienced explosive growth, with more and more people turning to digital platforms to buy and sell art. The ease and convenience of online art sales have made it accessible to a wider audience than ever before, and as a result, the market has seen some fascinating trends emerge.
In this article, we will explore 10 facts about the online art market that you need to know. From the rise of virtual reality to the impact of social media on art sales, we will delve into the key trends shaping the digital art world today. So, whether you are an art collector, investor, or enthusiast, read on to discover the latest insights and developments in this dynamic and rapidly evolving industry.
👉 In addition to exploring the latest trends in the online art market, we also want to help artists improve their online sales experience and skills. Whether you are a seasoned artist or just starting out, mastering the art of selling your work online can be a game-changer for your career.
So, read on to gain valuable insights and actionable strategies about how to market art online!
What Should You Know About Online Art Market?
So, how to research your online art market? And why do this? The answer is simple: we want to understand how to sell art online and make money.
The online art market has become increasingly important today because it has revolutionized the way people buy and sell art. Prior to the emergence of online art platforms (you can find a lot of online art websites today), the art market was limited to a select group of collectors, galleries, and auction houses.
However, with the advent of online art marketplaces, art has become more accessible to a wider audience, breaking down geographic and financial barriers. This has enabled more artists to showcase their work and reach potential buyers, giving collectors a wider range of choices.
Additionally, the online art market has increased transparency in the art industry, making it easier for buyers to research and authenticate artwork, which has helped reduce fraud and increase trust in the market. Facts about the art market can help us to better understand what kind of art is popular right now.
Fact 1. The online art market has grown significantly in recent years, with a 12% increase in sales between 2018 and 2019
The growth of the online art market can be attributed to several factors, including the increasing ease and convenience of online art transactions and the rise of a new generation of art buyers who are comfortable making purchases online.
In addition, the COVID-19 pandemic has accelerated the shift towards online sales, as traditional art fairs and gallery exhibitions have been canceled or moved online. This has resulted in a surge of online sales in 2020 and beyond, as collectors and buyers turn to online platforms to acquire artworks. The 12% increase in sales between 2018 and 2019 is a clear indication of the growing importance and impact of the online art market in the art world.
Fact 2. Online sales now account for around 11% of the global art market, with the total value of sales estimated at $4.82 billion in 2020
What about marketing art online? We can check online art market statistics a bit. The fact that online sales account for approximately 11% of the global art market is indicative of the growing importance of the online art market. The total value of sales estimated at $4.82 billion in 2020 highlights the increasing trend of art collectors and enthusiasts turning to online platforms to buy and sell art.
This is due to a variety of factors, such as the convenience of online transactions, the ability to access a larger pool of potential buyers and sellers, and the increased transparency and pricing information available online. The continued growth of the online art market is expected to have a significant impact on the art industry as a whole in the years to come.
Fact 3. Online art platforms offer a wider range of art for sale, including emerging and lesser-known artists, than traditional brick-and-mortar galleries
Online art platforms have democratized the art market by offering a wider range of artworks for sale, including works by emerging and lesser-known artists. This is a significant departure from traditional brick-and-mortar galleries, which typically represent a limited number of established artists. Online art platforms also offer a variety of price points, making art more accessible to a broader audience.
Moreover, they provide a platform for artists to showcase their work globally, allowing them to reach a wider audience beyond their local communities. This has created new opportunities for artists to gain recognition and success in the art world.
If you want to know about how to sell digital art you can check different online art galleries.
Fact 4. Online art buyers tend to be younger and more tech-savvy than traditional art buyers, with millennials and Gen Z making up a growing percentage of the market
Online art marketplaces have seen a surge in popularity among younger generations, with millennials and Gen Z making up a growing percentage of art buyers. According to a report by Hiscox, 79% of millennials have bought art online, and they are more likely to purchase art via mobile devices.
This demographic is also more likely to be attracted to digital art and new media, as well as emerging and lesser-known artists. As younger generations become more comfortable with purchasing art online, the online art market is likely to continue to grow and evolve to meet their needs. By the way, it is possible to buy art online at the online art gallery.
Fact 5. Online art platforms offer a more transparent buying process, with detailed information about each artwork and the ability to view the art in different contexts, such as in a room setting
Online art platforms often provide a more transparent buying process than traditional galleries, allowing buyers to access detailed information about each artwork, including its history, condition, and provenance. Buyers can also view the art in various contexts, such as in a virtual room setting or by using augmented reality technology.
This level of transparency and access to information is particularly attractive to buyers who are new to the art market and want to make informed purchases. Digital art online is one of the most popular art form to buy.
Fact 6. The online art market has made it easier for buyers to purchase art from anywhere in the world, with global shipping and delivery options available
With the rise of the online art market, buyers are no longer restricted by geographic location when it comes to purchasing art. Online art platforms provide global shipping and delivery options, making it easier for buyers to acquire art from anywhere in the world.
This has opened up new opportunities for artists to reach a wider audience and has made art collecting more accessible to a global market. Additionally, online platforms often provide multilingual support and the ability to browse and purchase art in different currencies, further breaking down barriers to entry in the art market.
Fact 7. Online art platforms often offer lower prices than traditional galleries, as they have lower overhead costs and can reach a wider audience
What social media platform is better for artists? Online art platforms often offer lower prices than traditional galleries, as they have lower overhead costs and can reach a wider audience. With the elimination of the need for physical gallery spaces, the costs associated with maintaining a physical presence, such as rent and utilities, are significantly reduced.
Additionally, online art platforms are able to reach a global audience, expanding their potential customer base and increasing their sales volume. This enables them to offer lower prices while still maintaining profit margins, making art more accessible to a wider range of buyers. By the way, if you know about how to market art prints online you can make your audience wider. You can choose the online art store to share your works.
Fact 8. The online art market has also seen the emergence of digital art and NFTs (non-fungible tokens), which are unique digital assets that can be bought and sold on blockchain platforms
So, how to market NFT art? The online art market has opened up new possibilities for digital art and non-fungible tokens (NFTs). Digital art is a form of contemporary art that utilizes digital technology, such as computer graphics, animation, and virtual reality. NFT art market is getting wider today. NFTs are unique digital assets that represent ownership of a specific piece of art, music, or other digital content.
These digital assets are verified on blockchain platforms, providing a secure and transparent method for buying and selling. The online art market has allowed for wider distribution and access to digital art and NFTs, creating new opportunities for artists and collectors alike.
Fact 9. Some online art platforms offer investment opportunities in art funds and portfolios, allowing buyers to invest in the art market without owning physical artwork
Online art platforms have also opened up new investment opportunities in the art market. Some platforms offer investment opportunities in art funds and portfolios, which allow buyers to invest in the art market without owning physical artwork.
This has attracted new investors to the market who are interested in diversifying their portfolios and taking advantage of the potential financial benefits of investing in art. Additionally, these platforms often provide detailed information and analysis about the art market, which can help investors make informed decisions about their investments.
Fact 10. The COVID-19 pandemic has accelerated the growth of the online art market, as galleries and auction houses have moved online to adapt to social distancing measures
The COVID-19 pandemic has had a significant impact on the art market, with physical galleries and auction houses being forced to close or limit access due to social distancing measures. Even the best online art marketplace could not avoid this impact.
As a result, the online art market has experienced a surge in growth, with more buyers and sellers turning to online platforms.
This shift has forced the traditional art world to adapt to new technologies and ways of doing business, accelerating the growth of the online art market. The pandemic has highlighted the importance of online platforms in the art world and has changed the way that art is bought and sold.
That's why we will also be sharing tips and best practices for artists looking to enhance their online presence and boost their sales. From optimizing your website to leveraging social media and online marketplaces, we will provide practical advice to help you succeed in the digital art world. So, now you know about how to market your art online and can make your sales better!
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