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The insights gained from the survey described below should be taken primarily as a symptom of popular, culturally specific feelings. It would be unreasonable to consider the interview-made, short answers obtained by thousands of respondents as somehow undisputed truth when diagnosing the almost impossible diversity and breadth of practices in the art world.
Respondents have priorities though indicating more widely applicable considerations. The survey raises thought-provoking questions about the future shape of online art sales across a variety of mediums:
“The percentage of art buyers shopping online dropped last year, and the growth of online art sales slowed for the second year in a row, a new report found. The industrial market is constantly growing.
The survey further found that mobile purchases continue to grow and take a large share of the market, and social media is a major way for people to find new industries. “The future of the online market is certain, although the shape remains a mystery,” wrote Robert Reed, an art and private client at insurance company Hiscox, behind the report. He continues: “Buying art is extremely enjoyable and exciting (as well as sometimes frustrating) and the continued influence of social media, especially Instagram, helps the market grow.”
Sales change | The results of the report, which also assesses the impact of cryptocurrency and cybercrime, are based on responses from 831 industry buyers surveyed through Art Tactic’s client mailing list. A total of 12% of industry shoppers have bought online in the last 12 months, down from 49% in the previous year. This recession was particularly pronounced for those under the age of five. Only %% of this group bought art online in the last 12 months, up from %% in the previous year. This suggests that the industry market is “struggling to convert dilemmas, as well as occasional online shoppers into repeat customers,” the report said. Hiscox notes that while the online art market grew by 20-25% between 2013 and 2015, the last two months have seen signs of a recession, “perhaps the industry is struggling to expand and expand its online client base.” The market growth rate has come down to 15% in 2016 and 12% in 2017.
Enter the industry | 63% of survey respondents said that Instagram, which had 800 million monthly active users as of January 2018 and is expected to exceed 1 billion active users by the end of 2018, was their preferred platform for searching the industry. The three categories of most Instagram followers were “Museum”, “Artist” and “Gallery”, according to the survey results. Tate has 2 million followers on her Instagram account. Art0% New industry buyers say price transparency is a key feature when deciding which online industry to buy from, which is a potential barrier to sales growth.
Threat | The report also found that more than half of the surveyed sales platforms had attempted cyber attacks in the last 12 months. About 15% said an attack was successful. More than 40% of online art buyers are either concerned or very concerned about cybercrime when buying art online, and 82% said they will probably buy from their platform for fear of cybercrime. Read in conclusion: “The industrial market is dominated by small and medium-sized businesses that are historically less tech-savvy, more satisfied with scale.” These businesses are weak and our investigations say that cyber criminals may wake up so far, perhaps seeing the industrial market as a soft target. “Arts professional
The medium is the message
Art refers to the sale of art by discussing the traditionally defined canvas, print or usually small works. Similar to the structure of the most popular promotional tools implemented, with the panels in Instagram’s series, a ‘Gallery View’ is perfectly suited for these.
It can be argued here that every stage of the process has been affected. The idea is that all parts from creation to end-client delivery are necessarily responsible for publicly or unconsciously promoting restrictions that such a medium is inherently involved. This means that an artist who benefits from using ‘Gallery View’ sales channels can coordinate their efforts, but is personally ultimately measured as positive or negative, so that the best results can be achieved when their work is viewed through such platforms.
Similar debates can be accelerated for mixed media, larger three-dimensional compositions, performances, or any number of visual art forms. If the purpose of the artistic creation is to understand the unfinished creation or to share the interpretation of the novel, such a self-responsive and influential delivery process may create some misconceptions.
Who is buying and why?
Galleries and advisors were once housed as gatekeepers, the Art World Authority. Tate’s nearly two million followers on social media prove that it can still be argued that the source’s reputation and influence may precede respect for personal interpretation. Very little formal reputation can serve as a kind of collective indicator of quality filtering for a kind of diverse or perhaps vaguely saturated field. And when viewed as a vehicle for investment, the evaluation of this joint work maintains a significant impact.
An inconsistency occurs even though bureaucratic structured doormen now face democratic, self-regulated and almost truly decentralized purchasing power. Industrial transactions are possible directly between the production of almost any gallery and the consumer target market.
Each artist has the potential to reach a relatively unlimited audience independently through online channels. Although their authority, skills and or ‘formal’ status may be thin due to the breadth of the participants as well as the context of the presentation. At this point the gallery or advisors may maintain an educated skill, prudent judgment and / or appreciation long before it is generally understood. Although the choice can still be seen as a free one due to multiple ways of allowing the buyer to acquire ownership.
Buyers can decide to buy directly from an artist or based on the influence of an expert. Do they value an essay or did they buy it because they believe it is valuable. The democratization of accessibility raises the question of how it can now be allocated collectively.
Formula
Price transparency was identified as the single most influential factor. Security concerns and the use of reputable channels are more or less under that metric. If the site, channel or medium is not secure or not secure, then any ‘transparency’ in terms of price will naturally be secondary and false.
Transparency means open evaluation and clear accounting from source to receipt. Yet the value must be measured and postponed to a collective or thematic interpretation. It is the price to be earned at the time of resale or which is self-recognized from feeling or attachment. Automatically, transparency cannot provide a stable universal extended foundation. The fixed price is as variable as the industry, it arises from the eyes of the viewer or the market [beholders].
Online or off, publicly available options are informationally directed to the sale of works of art from an informed price recommendation location or to facilitate thematic interpretation. Intentional gradations and essay pricing statements cannot be applied equally or legitimately to everyone.
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