Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Hiscox Puts Online Art Market at $2.64bn

April 21, 2015 by Marion Maneker

instagram

Social media is playing a bigger role in online art sales as well as at the auction houses this year. According to Arttactic, 24% of purchasers said they were directly influence by the feeds of an artist, museum or other arts enterprise:

Sales of art online rose to $2.64 billion in 2014, from $1.57 billion the previous year, according to a report to be issued on Tuesday by the British insurance company Hiscox. Online art buying, the report found, accounted for 4.8 percent of the value of the global art market, which it estimated at $55.2 billion.

The findings were based on responses from 519 international art buyers surveyed through ArtTactic’s client mailing list, Twitter, Facebook and the mailing list of Own Art, a British online art seller. […]

Almost half of this year’s respondents, or 49 percent, said that they had bought art online in the last 12 months, up from 38 percent last year.

Online Art Buying Rises in New Market Report (ArtsBeat/NYTimes.com)

More from Art Market Monitor

  • Hess Sells BaconHess Sells Bacon
  • Christie’s Offering Hopper’s Two Puritans for $20-30mChristie’s Offering Hopper’s Two Puritans for $20-30m
  • Billionaires Use Art to Get Low-Interest LoansBillionaires Use Art to Get Low-Interest Loans
  • Contemporary Art Market Reaches $1.4bn All-Time High Auction Turnover On Increasing Value of LotsContemporary Art Market Reaches $1.4bn All-Time High Auction Turnover On Increasing Value of Lots
  • ArtNews Top 200 Collectors for 2011ArtNews Top 200 Collectors for 2011
  • Last-Minute TEFAF Theft & SalesLast-Minute TEFAF Theft & Sales

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Tony Podesta's Secret Art Buying
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • How to Chant Like an Auctioneer
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Basquiat's Last Girlfriend
  • Rare Photo Album by Dutch Street Photographer Bought at Auction by Rijksmuseum
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Christie's Announces $70m Picasso Self Portrait
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor