Another example of technology driving innovation in the art market comes as Phillips partners with Tumblr and curator Lindsay Howard to present Paddles ON!, a “groundbreaking auction and exhibition that brings together artists who are using digital technologies to establish the next generation of contemporary art.”
The Wall Street Journal reports:
In a bid to capture the attention of young collectors or established ones exploring new media for the first time, the 20 works on offer are priced between $1,400 and $18,000. The auction proceeds will benefit the artists and the nonprofit organization Rhizome, which commissions digital artists and archives digital art. Phillips will not take a cut.
The sale and curation of digital art brings with it significant logistical challenges. In response to a question from Art Market Technology during last week’s @AskACurator day on Twitter, a number of participants agreed that the long term preservation and maintenance of digital art was a concern.
— Conservation CSTMC (@SciTechPreserv) September 18, 2013
Whether these concerns will limit the appeal of digital art to art market investors in the long term remains to be seen.
Read more: Auction House Enters the Digital Age – Phillips’s First Digital-Art Auction Will Include a YouTube Video, Digital Files (Wall Street Journal)
Watch: How Do You Invest in Digital Art? Auction houses are entering the market for digital art, but how does one invest in art that’s so easy to replicate? Jennifer Maloney joins Digits. (Wall Street Journal)