Connect with us

Art Online

More People Are Buying Art Online, as Digital Sales Rise to $11.8 Billion

Published

on

Source: Robb Report

Paintings and the like have historically been one of the more tangible artforms. But more and more, they’re intermixing with the digital world.

Last year, despite an overall declining market, online art sales increased 7 percent compared with the year prior, Hypebeast reported on Monday. That’s according to the annual Art Market Report from Art Basel and UBS, which provides key insights into the global art market. In total, online sales in 2023 achieved a whopping $11.8 billion, making up 18 percent of the market’s total turnover.

While that’s an impressive jump from 2022, online sales reached their peak in 2021, when they accounted for $13.3 billion. Similarly, 2020 was a good year for digital sales, with a total of $12.4 billion made online. Still, online sales are doing substantially better than pre-pandemic: 2023’s total is almost double the total in 2019 or any year before that.

Read more: https://robbreport.com/shelter/art-collectibles/2023-art-market-report-1235550812/

Trending