Art more and more online. The market experts speak

Many of the accelerated changes during quarantine will likely be permanent elements in the art market world. On this line Artsy proposes an interesting debate on the characters of online auctions among some important operators. If so far we have been accustomed to experiencing six-month auction cycles – in London, New York and Hong Kong – the digital environment will completely change times, as well as places, of course, presenting more fluid cycles, cross-category and themed sales. “One of the key issues, however, remains the ability or not to see the works of art in person.  The auctions can be transferred into the virtual space, but seeing the works of art in person does not have a real substitute, at least not yet”, says Beverly Schreiber Jacoby, artistic consultant and founder of BSJ Fine Art.  It is equally true, however, that, as art consultant Elizabeth Margulies states, “not being able to see the works in person plays an important role, but if you are an experienced collector you do not necessarily need to see the work in person if you know the work of that particular artist”. There is no doubt that art is better seen and experienced firsthand, and live auctions provide electricity and energy, however, due to the decrease in the number of physical movements and the strengthening of new technologies, the virtual sphere will continue to pulsate and most likely to grow thanks to the adoption of increasingly sophisticated 3D and virtual tools, confirm the experts at Artsy.Moreover, “the virtual auctions have been a sigh of relief in recent months.  It is expected that the total wealth held in the art system will grow from $900 billion to $2.6 trillion by 2026. The growing stability of the market cannot be denied.  In times of crisis, art has historically proven to be a safe haven,” says Julie Miyoshi Art advisor and co-founder of Art Firm Advisor

Sharing is caring!

Enroll in our newsletter

Art speaks all languages, it always has something to say. Also by email.