Online Art Sales in the US - Industry Market Research Report

Online Art Sales in the US - Industry Market Research Report

Online Art Sales

The Online Art Sales industry is expected to grow substantially over the five years to 2018. The global value of online art sales was expected to increase dramatically according to the European Fine Art Foundation; this growth rate is indicative of the decision by major auction houses to build online portals and offer online-only sales starting in 2013. Furthermore, an influx in the number of online market places connecting artists and their work to dealers, galleries and individual consumers has led to greater sales volumes during the period. Over the five years to 2023, industry revenue is expected to continue increasing, albeit at a slower rate when compared with the current period. Projected revenue growth during the outlook period can be attributed to increasing sales volumes and evolving technological advancements.

This industry primarily retails or auctions original and limited-edition artwork over the internet. Industry players include online marketplaces, auction houses, art dealers and galleries. Industry operators purchase artwork from artists or individual owners and then sell the artwork to consumers, with little or no further development of the product. This industry also includes platforms that bring buyers and sellers together, for a commission.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.