The 2014 TEFAF Art Market Report, compiled by Dr Clare McAndrew and published this week by the European Fine Art Foundation to coincide with TEFAF Maastricht contains some eye-catching statistics and projections.
Section 2.4 (p27-28) of the report covers online sales, noting the impact the web has had on art sales in 2013:
Previous studies conducted by Arts Economics for TEFAF have observed that the art market was relatively slow in recognizing the potential of the internet as a means both of selling and of enlarging its client base. This is now beginning to change rapidly, both for the auction sector and for dealers.
Key findings from the report include: Continue reading
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 Continue reading