The TEFAF (The European Fine Art Fair) Art Market Report, delivered by Dr. Clare McAndrew of Arts Economics, is considered the authority on data relating to auctions, art fairs, and market trends. With the recent release of the 2015 TEFAF art market report, the growth of the online art market is estimated to have reached $3.5 million this past year. This means that online art sales accounted for six percent of the total global art and antiques sales for 2014. That’s huge money considering online sales have only gained ground within the past few years.
In discussing the online art market, the report refers to the addition into the art market of retail companies that sell their art directly to buyers online as well as intermediary players that provide a platform for the traditional galleries and auction houses to enter into online sales such as Amazon and Artnet. With the report showing that the middle market, between $1,000—$50,000, has been the focal point for most online selling it is a good indicator of the increasing accessibility of art. The report is certainly seen as positive and a good indication of where the art market is heading in the future.
More Articles Regarding the Art Market:
*The European Fine Art Fair Art Market Report Declares Market at Best Ever
*Cezanne and Miró Make Waves in the Market
*Rare Picasso’s to come onto the Market
*Market Watch: Old Masters on Top
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