The online marketplace is changing the game in a big way. It seems that more and more online applications are enabling both art buyers and art sellers.
In the art world, it seems that auction houses, if we exclude big ticket items of Da Vinci-like magnitude, are feeling pressure from those smaller online auction platforms and new-fangled online marketplaces for selling art. Auction houses are increasingly focusing on bigger fish. Artists have also discovered Etsy, WooCommerce, Pinterest, Ecwid and Shopify. Everyone selling things online is becoming their own retail platform. Younger art collectors are willing to risk engaging in newer art-perusing or art-buying endeavors.
More social media platforms are there for us to research new trends, engage with the artists, and buy their artwork. Art enthusiasts who are potential collectors are more able to find pieces at affordable prices. There has simply never been a better time to invest in some art. We are closing the distance between us and our art.
Art speaks to us all in different ways, but when the art is relevant and touches us in a big way, and resonates with us, it hits home, and so very few of us collect art purely for financial returns. This is great news for painters and artists everywhere. It's emboldening artists to do more to reach out to people, and people are reaching out to artists as well. We are able to socialize more with creators of art. It's becoming a two-way street for art. And the internet is doing its bit. Large numbers of artworks have been viewed and bought using a new app called "Arto", an app that allows both the viewing and purchasing of art from collections of art. Equally, sellers can upload art and sell it to art enthusiasts. Galleries can also partner with Arto and offer art to art lovers based on their preferences, in the same way that Facebook shows members ads based on preferences. It's downloadable on Apple's App store and on Android. It's a game changer, and only one of many.
Obviously there are some economic factors that influence art prices, but when art is good enough and is affordable enough, things improve. The current view of up-and-coming markets in Russia, South America, the Chinese markets and Asian art in general is that art is holding up well, perhaps helped by oddities in currency values, as well as a keen demand. And it seems that American and European art are very likely to increase. The trick is in finding bargains. Dealing with artists directly rather than galleries gets art at the lower price, rather than the curated higher prices.
And remember to look for ripe and poignant works in photography, or installation art which is gaining popularity.
The market is seeing major bargains for anything under $10,000. Collectors wanting to start a collection are seeing less auctions but more direct dealing with art dealers, as dealers are seen as more affordable. The market is also evolving, as more sophisticated art buyers are willing to try out riskier works by great new artists as they see the value there. And art lovers are finding the apps and media online that facilitates their tastes in good art.
If one excludes the really big-ticket art items, art works over £1 million have seen a small pullback in sales, while mid priced art in the $10K to $50K area has risen. More and more buyers are looking around and comparing prices and artist reputations before committing to a buy, which is good. And the internet is a great leveler.
What outcomes can we deduce from these latest findings?
Obviously the market is good, people will only pay what they think is a fair price for good art. So the galleries reserve high-dollar artworks in stock, avoiding a flood of art on the market, so no sharp price drops. The art market continues to hold strong, despite the niggling social and economic landscapes. We are seeing the market evolve and mature. Digital trends have helped increased access for emerging artists. So while high-end spending is slightly eroded by politico-economic trends, the mid and low priced affordable art surges ahead, since any drag on currency values is offset by wise spends on lower priced works, which cancels out any "negativity" in buying new and good art. Low priced affordable quality art is a wise investment since affordable art has nowhere to go in value but upwards.
Alan Mc Keogh
Alan Mc Keogh
I am an artist, web and blog designer, and I enjoy creating art, whether people, still life, or landscapes. I blog and write to grow the masses. Logos are a growing passion here. Come to me, brethren! New projects coming soon.