Chapter 5 looks at sales in the online art market, reporting on its size and key structural features. The chapter focuses on e-commerce in the dealer and auction sectors, and presents findings on distance and pricing in online transactions. It also provides insights into how HNW collectors interact with the market online and through social media.
Online sales of art and antiques were estimated at $5.9 billion in 2019, a decline of 2% year-on-year, and accounting for 9% of sales in the art market by value.
The Online Art and Antiques Market, 2013–2019
For those dealers who made online sales in 2019, 57% were to new buyers, and for second-tier auction houses these new buyers accounted for 34% of their online sales.
Share of Online Sales by Buyer Type