Thursday, August 8, 2013

Amazon, Fine Art, Online Sales

from the New York Times--

 . . . Amazon said in an e-mail that the company had no comment about plans for an art venture, first reported by The Art Newspaper. . . . unclear whether the company will focus on lower-end sales of prints and photographs or also try to move into the market for higher priced one-of-a-kind works like paintings and sculpture. The growth of online sales has been fueled primarily by three factors: a broadening base of art collectors around the world; a much greater willingness by those people, both veteran collectors and newcomers, to trust online transactions and buy works after seeing only pictures of them; and a huge amount of inventory in the storehouses of galleries, as a growing number of art fairs and other exhibitions leads to more artists making ever more work. A survey of more than 200 collectors by the international insurance company Hiscox, released in April, found that almost two-thirds had bought art online, without first seeing it in person, and that one-quarter of the collectors surveyed had spent $75,000 or more on works from online sellers or those they had seen only in JPEGs sent by galleries. . . . "

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NYTimes: Art & Design