Once upon a time, collecting and investing in artwork was only for the wealthy and elite. And it wasn’t just because of the sizable investment it required. Unless you lived near an art gallery or could find a local show, your purchasing options were severely limited.
But the internet has changed all of that. And many of these changes have been further spurred on by last year’s COVID-19 pandemic. With entire countries under stay-at-home orders for months at a time, artists and art galleries had to get creative. As a result, the art market saw a huge increase in the number of online sales, doubling from the previous year.
Today, anyone with an internet connection can browse countless pieces of artwork from around the world. They can quickly and easily find out detailed information about the artist and artwork. And they can make a purchase with the tap of a button.
To put it simply, the internet has made the art market more accessible than ever. And while we could list dozens of ways this is happening, the following three are some of the most significant.
Collectors Crave Personal Communication — and the Internet Delivers
Purchasing a piece of artwork isn’t the same as buying a new television set. Art is intensely personal. It communicates something about the collector’s values and passions. It enables them to cultivate an identity and advocate for important causes.
Because of this, the artist behind the artwork is sometimes just as important as the art itself. And the internet has made it easier than ever to learn about and even connect with artists making meaningful artwork. This means that people can actively support the people and movements they care about while enjoying beautiful works of art at the same time.
In addition, video calls, augmented reality, and other recent technological advances have made it possible for collectors to see artwork from every angle — without ever walking into a gallery.
Pricing Has Become More Transparent
The internet has flattened the world — including the art world. It’s removed barriers to information that have been in place for centuries. And it’s allowed art collectors to quickly and easily learn everything they need to know about a piece of art before they make a purchase.
This incredible increase in available information allows buyers to have a more accurate understanding of a piece of art’s value. They can easily see past sale prices for the artwork in question as well as how other pieces are selling, including art by the same artist and works by similar artists.
Greater transparency within the art market is a boon to all collectors, especially those who are just getting started.
Expanded Reach Means Expanded Interest
The internet has empowered artists around the world to create and sell their art without the need for middlemen. They no longer need to move to New York City or Los Angeles to successfully make it in the art world. This means that more artists than ever are able to create meaningful, marketable works of art.
But artists aren’t the only ones who are empowered. More people than ever can purchase art. And this rise in creators and collectors has created a kind of positive feedback loop. Interest in art as a means of expressing oneself is expanding. And it’s showing no signs of slowing down.
The internet has already made artwork more accessible than it’s ever been. And the above three reasons (and a host of others) point to the likelihood that it will only continue in the foreseeable future. That’s good news for artists and collectors.
