The advent of the digital era has profoundly transformed the art acquisition landscape. An impressive 82% of art collectors have bought artworks online, according to the Hiscox Online Art Trade Report 2020. This has made it possible to discover and purchase a wide array of artworks from across the globe, all from the comfort of your home. Here’s a brief exploration of the avenues available for online art buyers:

VIRTUAL GALLERIES AND MARKETPLACES

Esteemed galleries such as Gagosian, David Zwirner, Pace Gallery and many many more have embraced the digital shift, extending their physical spaces into the virtual realm. Online galleries witnessed a 72% increase in their online audience between 2020 and 2021, according to ArtTactic’s report on Online Art Platforms 2021. Additionally, diverse platforms such as Artsy, Saatchi Art, and Artfinder serve as extensive marketplaces, housing works from various artists at different career stages. These digital spaces have seen a surge of 400% in online traffic between 2019 and 2021, according to the Art Market Agency’s 2021 report, catering to a broad range of tastes and financial considerations.

AUCTION HOUSES AND ARTIST WEBSITES

Prominent auction houses like Sotheby’s, Christie’s, and Phillips have furthermore created platforms for online bidding. Online sales in these auction houses grew by an astounding 255% in 2020, as reported by the Art Market 2021 by Art Basel and UBS. Alternatively, many artists offer a more direct channel for art acquisition through their personal websites and online portfolios. It’s been reported that 92% of artists now use social media platforms to keep their audiences informed about their latest creations and upcoming sales, according to a 2022 survey by Artfinder.

THE VIRTUAL ART FAIR EXPERIENCE

Traditionally, art fairs have been a pivotal space for discovering fresh talent and galleries. With the move toward digitization, many such fairs now offer online viewing rooms, permitting art enthusiasts to explore and acquire pieces virtually. These virtual art fairs experienced a 70% growth in 2020, according to the Art Newspaper’s 2021 report on virtual art fairs.

In this digital art acquisition journey, ensuring the authenticity and quality of the artwork is paramount. Therefore, it is vital to delve into detailed research about the artwork, the artist, the seller and the platform on which the sale takes place.

THE POSITIVITY OF SUPPORTING EMERGING ARTISTS

Investing in emerging artists yields numerous benefits, both for the artists and the collectors. Here are a few examples:

FRESH TALENT AND FINANCIAL SUPPORT

By backing emerging artists, collectors get to uncover innovative talent before they garner broader recognition. This investment offers essential financial support to the artists, with over 60% of emerging artists stating that sales from online platforms significantly contribute to their income, according to a “Guide to Financial Stability for Artists” a 2022 report by The Creative Independent.

UNIQUE WORKS AND AFFORDABILITY

Emerging artists often introduce fresh perspectives and techniques. Thus, by investing in their art, collectors can acquire unique, original pieces that may not be widely recognized or available yet. Furthermore, artworks by emerging artists are typically more affordable than those by established ones, allowing a more extensive range of collectors.

BUILDING A PERSONAL CONNECTION AND FUTURE POTENTIAL

Supporting emerging artists permits collectors to develop a personal connection with the artists, gaining insights into their creative processes, inspirations, and visions. While art should be primarily bought for love and appreciation, the market value of some emerging artists may increase over time as they gain more recognition, potentially benefiting early supporters.

FOSTERING DIVERSITY AND CULTURAL GROWTH

Backing emerging artists fosters diversity and innovation in the art world, giving new voices and ideas a platform. This support is instrumental in promoting the ongoing evolution and enrichment of artistic expression and cultural dialogues. By investing in emerging artists, you contribute to the growth and vibrancy of the art world and the broader cultural landscape. In 2022, an estimated 40% of art collectors focused on acquiring works from diverse and underrepresented artists, according to the survey “The Impact of COVID-19 on the Gallery Sector” 2022 by Arts Economics.

In summary, supporting emerging artists enriches the art-buying experience, offering unique opportunities to uncover new talent, build personal connections, and contribute to the ongoing growth and diversity of the art world. By embracing this digital shift, we are partaking in a global art movement that will continue to redefine the art market and the role of the collector.

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