The Internet is giving people around the world easy access to a growing volume and diversity of affordable, contemporary art. Because a massive, global audience can now engage in collecting, some long-established “rules” of the art world are being reconsidered. For example, here are just a few of the ways the art market is being democratized.
Online galleries and “virtual” art fairs have grown in acceptance now that people feel comfortable buying almost everything online. Selling art online frees gallery owners and art fair organizers from the limitations of geographical boundaries, retail display space, and operating hours. Today sellers of art can represent more artists and market their work to potential buyers year round.
Growing economies in China, Russia, Brazil, and India have created a broader pool of collectors with the affluence to buy art. Collectors who can’t spare the time to repeatedly visit galleries in New York or London have made the Internet an acceptable method of searching for artists to collect.
The art world has become more inclusive, welcoming artists from new geographic, social classes, and cultural territories. Artists don’t have to live in a big city or an industrialized nation to get exposure for their work.
The Internet and online galleries are providing more transparency in pricing. The Internet has also made it much easier for art lovers to educate themselves about genres, artists, and what an artist’s sales record.
The sheer volume of available work is making a lot of art more affordable. People such as retiring Baby Boomers and under-employed college graduates have the time, desire, and tools to express themselves artistically. Many talented people who never expected to build full-time art careers are thrilled to simply earn some income from their art.
Many galleries and art fairs have become more welcoming to new collectors, with special events and activities geared toward art education and networking with artists. There is an expectation that over time, many new collectors will become art connoisseurs.
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| The Affordable Art Fair offers a welcoming environrment to learn about art. |
Entrepreneurs and technology firms have started to “re-imagine” ways for art to be displayed, bought, and sold. For example, instead of buying art, you can choose to purchase art on a subscription basis. Or you can buy art in digital forms to display on your high-resolution monitors in your home or office. These types of business models let you change out of the art in your home, without investing a lot of money in acquiring, storing and preserving a big collection of art.
Social media has made it possible for artists to interact directly with their collectors. This wasn’t possible when artists relied exclusively on galleries to sell their work. The ease with which artists can sell directly to buyers is causing some turbulence in the traditional artist-gallery-buyer business model, particularly when it comes to how art is priced and how an artist’s work has traditionally increased in value over time. Still, many people like buying art from people they know, and social media is making it possible for more people to "know" artists.
Can you think of any other ways that the art market is being transformed? If so, I would love to hear from you!
