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Online auctions

April 23, 2015

Online sales look set to cut through the notoriously opaque and traditionally relationship-driven art market, according to a new trade report conducted by research and analysis firm ArtTactic.

Online sales look set to cut through the notoriously opaque and traditionally relationship-driven art market, according to a new trade report conducted by research and analysis firm ArtTactic.

The Online Art Trade Report 2015 found the online market grew 68% to an estimated $2.64 billion in 2014, and the majority of buyers were motivated by potential investment returns on their purchase.

April 3, 2014

Forget attending packed auctions and phone bids, buying a top-end collectible is now just a click away. 

In December of 2012 Edward Hopper’s painting October on Cape Cod (pictured, below right) was sold at auction by Christie’s for $9.6 million (€7.1 million). Nothing unusual about that, you might say. But the buyer wasn’t in the room, and not even on the end of a phone, but watching the auction live through an online stream. That is, so far, the most that anybody has paid for a painting while bidding over the internet.

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