The decline of Art Market and the rise of Online Market

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Nothing is permanent. Everything that was once known to be in some particular form and state requires an evolution to adapt to the new trends. Art is one such sector.

It is of no surprise that art exhibition and sales have seen a dipping point in last 20 years or so. All thanks to the high-end technology that has given birth to a number of platforms that are focused on bringing artists and art aficionados closer to each other. The Result? The online art market has boomed.

Today, the most preferred way for people to discover fine art is through social media or online platforms. Suppose you want to buy Indian art or let’s say an abstract painting. All you require to do is type “Indian art” or “Abstract Art” in the google search engine or on the social media platforms such as Pinterest and Instagram. The search results would be of a list of several brands on social networks and independent platforms offering an exquisite collection of paintings.

Before we dig in, let’s see some of the stats that support the rise of online sales market:

Supporting Stats for increased online sales

There is not an iota of doubt that people’s enthusiasm for art has increased phenomenally and artworks are now being easily available for everyone contributes a lot to that.

A study has shown some interesting facts:

  • The percentage of art lovers seeking new works on social media is 22.7%
  • Similarly, the art lovers who explore online galleries for astonishing paintings is 15.9%
  • Around 44.3% of the art lovers (in the age group 18-24) admit that they use social media to find art on the social networking sites.
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These numbers clearly show how the paradigm of art sale is not more tilted towards the online platforms and social media.

How social media plays a crucial role?

Before social media, the art world started to shift towards e-commerce and that transition was much more arduous than the shift towards social networking sites.

The target audience of today’s art world is the millennials (18-24) and they are not so easily convinced until you touch their heart.

You having an excellent platform, astonishing paintings, and a seamless delivery system is just not good enough. The younger aged customers now seek brands that can connect with them in an emotional way. And how is this done? This is where social media comes to play its part.

Online galleries, social media pages, and virtual shop owners, all look up to the social media platforms to engage the customers by generating a feeling-centric communication strategy. In fact, stats tell us that around 90% of the millennial art buyers seek some kind of emotional connect as a motivating factor in the purchase process.

On the top of the list is Instagram, the image-based social networking site that has emerged as a paradise for the artists across the world. This kind of platform is perfect for the upcoming artists, known personalities (of the art world), and the art lovers.

Even though if your pocket isn’t as deep as your enthusiasm and passion towards the art, this site offers you an extensive plethora of artworks. The platform is obviously most appreciated for its visual-centric engagement mannerism.

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So, along with the high valued paintings, you could also buy Indian art at affordable prices on this amazing dais. A report tells us that the total collection of online sales of artworks in the year 2015 was $ 3.27 billion and is expected to touch $ 9.58 billion by 2020.

In addition, the easy accessibility of the mobile phones has also turned the attention of art lovers to seek visuals of the artworks on smartphones.

3 prominent online galleries

Saatchi Art

This is gold. The platform is one of the best in curating the artworks across the globe. Anyone who is looking purchase a contemporary painting or buy Indian art can avail the curation service of this impeccable brand.

If you are looking to do some viable purchase, you can log on to their website, take the advisory quiz, after which a curator will contact you. This expert will help you in understanding your requirement and will offer you the most suited artwork.

Along with a mobile app, Saatchi Art has around 0.7 million followers on social media.

Christie’s

The heritage of Christie’s takes us back to 250 years. Even though it’s one of the most notable names in brick & mortar galleries for two centuries, Christie’s launched an online app in the year 2010.

Today, around 80 online auctions are conducted on Christie’s annually. Even the officials from this great art gallery tell that online operation has opened the door for the sale of art pieces for which they couldn’t find buyers in the brick & mortar facilities.

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The shift to the online channel has helped the Christie’s to increment their sales. Out of every 100 new customers of Christie’s, 80 comes through the online platform.

Indian Art Ideas

If you want to buy Indian art, this is ‘The’ place. Indian Art Ideas is nation’s one of the eminent art galleries. This platform not only holds a wide gamut of paintings from the established artists but also comprises the work of upcoming talent.

The website has a number of options like ‘featured collection’, ‘artist of the month’, ‘theme of the month’, ‘ the artist’s profile section’ and segmentation of art. With the work of more than 1000 artists, the platform offers a great variety of artworks for the art aficionados.