Today, with ever-changing technology, the international art market has changed and online sales continue to grow on a yearly basis, especially for lower value lots and certain collectible categories. Just ten years ago, online auctions were unheard of. There are also signs that active online art buyers are spending more and buying more frequently.
According to the Hiscox 2018 report, online art sales reached an estimated USD4.22 billion in 2017, up 12% from the previous year. What prompted such a drastic move? The growing market for online sales.
In addition to London's finest dealers, many well-known collectors such as Paul Getty, Sheikh Saud Al Thani, and Lord Thomson, to name a few, had bought from CSK. The most shocking, and much to the chagrin of its long-term London dealers and clients, was the closure of its much-loved South Kensington saleroom (CSK) which had been the home of many successful, lower value sales across numerous categories for over 40 years. In March 2017, Christie's, one of the world's most powerful art auction houses, announced its plans to cut 12% of its global workforce in a restructuring that would impact 250 jobs plus several showroom closures.
0 kommentar(er)
