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January 15, 2020

Why Art Buyers Buy Art Online

Red Velvet watercolor painting

Collectors buy art online just like the rest of us shop online – because of convenience and lack of salespeople and other reasons. Art sold online is often less expensive online than art in galleries, because there is very little overhead compared to a gallery. Fewer people to pay and fewer resources are used, so it’s also good for the planet! It’s also fun to browse and shop online, often more fun that it is to shop in galleries, even though there are plenty of places to buy art here in the south and in Atlanta art galleries. Read on for more reasons why people buy art online, and why you should buy art from Fine Art South.

The art industry is at a crossroads. Never before have more people been engaged with art. Yet over the past decade the market has largely stagnated and the number of artworks trading annually has decreased. Galleries and auction houses are looking for new ways to survive and thrive, with online sales receiving increased attention, given the significant opportunity to connect with and 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.
Art collectors surveyed for Artsy’s report identified five key drivers that have pushed them to buy art online.

Why collectors buy art online:

 

Access to artworks that collectors can’t get elsewhere

Considering the supply-driven nature of the art market, it’s no surprise that access to artworks and artists was the most frequently cited reason for collectors to transact online. This exclusive access to inventory was cited by just under half of all online art collectors, a level that remained remarkably consistent across other key characteristics like budget and the length of time collecting.
More experienced collectors with higher budgets were, however, 30% more likely to say they had purchased art online because they couldn’t physically be at the art fair or gallery where it was being sold. In written responses and interviews, these collectors indicated that one of the most significant value-adds of online art platforms is being able to browse and purchase works from the hectic schedule of major fairs and international galleries they care about, but don’t live near.
“If we only were able to buy from galleries that we knew, and we visit, and we regularly have deals with, it would have been very limited,” said one collector based in Portugal. “We wouldn’t be able to see and appreciate and get to know artists from such distant geographies than the ones we are in” without the help of online platforms, they said.”
Read much more about this at Artsy where this article first appeared.

 

Fine Art South
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