The art industry is at a crossroads. Never before have more people been engaged with art. Yet the market has largely stagnated over the past decade, and the number of artworks trading hands has decreased. As galleries and auction houses look for new ways to survive and thrive, online sales have received increased attention because of the significant opportunity they offer to cultivate new collectors.
Who are these online art collectors and how can the industry better serve them? This report unpacks the similarities and differences between online collectors’ spending patterns, motivations, and challenges, and compares them to those of traditional art buyers. It confirms some perceptions about online buyers and shatters others. Better understanding and supporting these online art collectors at every step of their journey will benefit the online art market, improve the health of the art market overall, and provide more opportunities for artists.
To download a PDF of the complete report, click here.