The online market: a double-digit growth
Art Market | Published every year by Hiscox in collaboration with ArtTactic, the Online Art Market Report is one of the most in-depth studies of the online art market. The 2016 edition confirms the sector’s two-figure growth in 2015 and evaluates the legitimacy of promotion-distribution-transaction models, shedding light on new opportunities.
2015’s key figures
At an estimated value of $3.27 billion, the online market recorded a 24% increase from 2014, with a growth rate up 5 points, modifying projections for 2020 from $7.47 to $9.58 billion.
While the online market’s share remains modest – 5% of the total – its growth is set against a total market decrease of 5% in 2015, from $68.2 to $63.8 billion, attributable to low sales in China.
The nature of the works on offer can help to explain the continued 2 figure growth, despite the unfavorable global economic context, with 87% of online works valued under the $15K bar. Moreover, the majority of transactions concern painting and print media (72%) while new media like video and digital remain marginal (18%). […]
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