Wednesday, 13 May 2015

The Shift In Fine Art Purchase

By Emily Sigidson


I recently came across a very cool article that discussed the direction of purchasing in the fine art industry. It touched on some major changes that were occurring and hinted at what the future of art would look like. It was a very eye-opening read from the NY Times about the direction of e-commerce in relation to fine art. It touches on the hesitations associated with the online purchase of fine, expensive artwork and predicts a shift in this mentality.

It is not a great surprise that fine art has not dominated sales via the Internet like music and books. The business of fine art investments asks much more of a consumer than a few dollars from their pocketbook. The financial aspect is quite possibly the leading reason behind art's delayed reaction to the business of e-commerce.

However, the upcoming generation has shed their parent's ideals on what it means to make this investment. They no longer require an in person observation before they are willing to go through with the purchase.

This young, wealthy generation is packing a new mindset than that of their parents. They have grown up making online purchase and prove less resistant to do so even when it comes to luxury goods. There is a certain security that is felt among them that is not in fact shared with generations before them. This next group of wealth appreciates the ease and efficiency that comes with acquiring goods through a few clicks of the mouse.

It would appear that the art scene would begin its journey into modern day consumer purchases, as wealthy investors begin to take comfort in luxury purchasing online. These changes appear to be happening quickly. With that being said, prepare for some major and exciting changes coming to the art world!




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