Art net buys global deals up 19% year-on-year

Absrtact: Recently, the British Hope Cisco Insurance Company and the British ArtTactic website for the second time published the "2014 Art Online Transaction" report. In a report released in 2013, the data were mainly based on the online art market accounting for 1.6% of global art market sales

Recently, the British Hope Cisco Insurance Company and the British ArtTactic website for the second time published the "2014 Art Online Transaction" report.

In a report published in 2013, the data were based mainly on the 1.6% estimates of the online art market as a global art market, which was mainly drawn from the data published in the IBIS World art market research and the 2013 TEFAF report. This year's "2014 Art Online Transactions" report, thanks to a growing number of online art trading sites and institutions published by the 2013 data, The Liveauctioneers website, for example, announced a turnover of 225 million dollars in 2013, with the The-saleroom site trading at $140 million in 2013, and the vast majority of artworks and collectibles traded on EBay under 100 pounds, But the site's online turnover of art and collectibles last year reached nearly 300 million dollars.

The report shows that the 2013 global Art Online trading market volume amounted to 1.57 billion U.S. dollars. Hithko and ArtTactic, based on last year's 19% per cent increase in art online trading, are expected to reach $3.76 billion trillion in online transactions by 2018. The AMRC Art Market Research Center statistics show that, in 2013, China's art online turnover of nearly 3 billion yuan, an increase of 67%.

This shows that, both at home and abroad, the 2013 art online transactions have shown a clear dynamic momentum.

Art Online shopping is in vogue

In 2013, Christie's had a total of 20.8 million U.S. dollars in online artwork sales, which held 49 online sales throughout the year, compared with 7 online sales in 2012 and only 4.7 million dollars in turnover. Last year, 45% of buyers of Christie's online transactions were new customers, from more than 100 countries and regions. Christie's online auction of the highest price is one of the most expensive pieces of Chinese artist Zhao's work "09.05.61", sales of up to 1.7 million U.S. dollars.

The online auction of Sotheby's website was redesigned in 2013, making it easier for customers to participate in auctions with mobile phones and mobile devices, the improvement has indeed worked, with online auctions up 45% and Asian buyers trading up 50%, 25% of whom use mobile phones to compete. Through online auctions, Sotheby's clients are located in 180 countries around the world, and it is worth noting that the price of its buyers to auction more than 1 million dollars has become the norm.

The report also showed that nearly 40% of people surveyed said they had bought art and collectibles only through online clicks, suggesting that on-line trading platforms were building their brand awareness and integrity. For most new buyers, the art sector, especially the art market, is often considered xenophobic and inaccessible, but 39% of respondents believe that the process of buying from an online art sales platform is less worrisome than buying artwork from galleries and auction houses.

According to another data from the report, 45% of buyers who repeat online purchases of art are willing to spend 5000 pounds or more to buy artworks, compared with 19% of buyers who first bought the art online. The data suggest that as familiarity with the flow and manner of online purchases of artworks increases, buyers ' confidence in buying expensive art online is rising and art shopping is catching on.

Other data also support the idea that art online shopping is becoming a reality. 75% of online art buyers said online purchases were the first to attract them by discovering artworks and collectibles that were harder to find in the physical galleries, and 63% said that the most important thing about buying art online was the convenience of bids and purchases.

Increased confidence in online shopping

The report shows that over the past year, 61% of online buyers have bought one or more pieces of artwork online. 45% of buyers Online will buy works between 1000 pounds and 10,000 pounds, and 10% of buyers will buy a piece of art from the Internet that costs more than 50,000 pounds. Currently, online art deals are most likely to be bought by a limited edition of printmaking, with 55% of online buyers buying a limited print online. Of these buyers, 40% have purchased a limited amount of printmaking within 500 pounds, and another 19% will buy a limited engraving between 500 pounds and 1000 pounds, and 25% will buy a limited printmaking price between 1000 pounds and 5000 pounds, with 15% People will buy a limited printmaking at 5000 pounds or more.

In addition, 82% of online buyers said that the biggest hurdle for them to buy art online was the inability to check the art entities they were prepared to buy, but the worry could be solved. 94% of buyers think that the status report is very important to them, and another 84% of the buyers are very interested in online sales work with the Certificate of Authenticity, the work status report and certificates of Authenticity for their purchase of the work has an important reference role. In addition, at present, the return policy of online art transactions needs to be changed, the process of logistics distribution needs to be smoother and faster, as far as possible to provide buyers with credible investigation (Work status report, Certificate of Authenticity) as well as on the artist, artwork higher transparency (artist Sales report, works past Price), This is seen as an important condition for rapidly increasing buyers ' confidence to buy artworks online.

Art Online Trading still has room for development

At present, the development of online art transactions is similar to the development of internet retail shopping in Britain in the 2005. The 2005 was a turning point for online shopping in Britain, where half of adults were shopping online for the first time, after which the trend has also experienced rapid growth in the European Union and the United States. For reference to the development of online shopping, there is no doubt that art online trading will also experience rapid growth and development. Although the current online turnover of artworks is still very small, there is still great potential for growth, especially as the younger generation grows, and they are becoming major groups of art online transactions. According to the survey data, many buyers aged between 20 and 30 have never had the experience of buying artwork in a physical gallery, compared with the overall data, but have already bought art on the internet.

More importantly, data from the report showed that 65% of buyers said they were "quite or very satisfied" with the experience of buying art online, while 27% said they were "more satisfied" and only 8% said they were "dissatisfied". Such a high degree of satisfaction suggests that buyers will continue to increase their confidence in online purchases of art as Internet technology and logistics barriers are removed. As a result, the online art market is likely to develop rapidly in the coming years.