Deloitte’s 2013 update of their Art and Finance report includes for the first time a section on ‘Growth of the online art industry’ (section 4, pp. 54-58). Essential reading for anyone interested in art market technology, the Online section of the report includes:
- Survey: online art industry – perceptions and attitudes
- Online art businesses are seen as key in developing the Art & Finance industry
- How the online art industry can contribute to the development of the Art & Finance industry
- Interview: Views on the future of the online art industry with Sergey Skaterschikov, Founder Skate’s Art
- Figures & Data:
- Figure 24: Which online business models do you believe will succeed in the future?
- Figure 25: In terms of art investment, how important do you believe many of the online art businesses will be in…
- Figure 26: The Art & Finance industry will benefit from the growth of new technology and new online businesses
- Table 4: Online art business – an overview
That Deloitte is now publishing research on the online art market underlines its growing maturity and centrality in supporting the global art market. The highlights which Deloitte have identified are:
- Sharp growth in the number of online art businesses.
- Online art businesses are broadening the lower end of the market and providing more, transparent market data.
- Online education will be crucial to the Art & Finance industry.
- Online art businesses are ‘here to stay’.
- Online auctions are more likely to succeed as a business model than online galleries.
- Trust will be essential for successful online businesses.
As well as a free PDF of the report, Deloitte Luxembourg have made available the below video precis of the report – required reading and viewing!