COLLECTING FOR THE FUTURE |
RUARC PEFFERS
In Boksburg by David Boldblatt
INVESTING IN ART ONLINE
A
spire Art Auctions has consistently led the market
subsantail growth of Christie’s database – up to 30% of its
in terms of technological innovation. One of the
new clients each year.
key areas in which the auction house has opened up new horizons is in the field of online sales, a
In the South African market, the online platform serves a similar purpose. Because of its lower price points and
growing area of commercial interest for the fine art auction
accessibility, buying art online attracts a wider audience that
industry. Reliable figures are not available for the South African
doesn’t have to deal with the perceived barriers to entry that
market for online auction sales of fine art. However, in 2017,
go along with participating in live auctions.
global online sales of art and collectables were estimated at
Aspire has brought several innovations to the South
$3.75 billion, an increase of 15% over 2016, according to the
African online art auction space. This year we have launched
fifth annual Online Art Trade Report, published annually by
the concept of themed auctions, which brings more focus
insurance company Hiscox. This is steady growth, from a low
and ease of navigation for participating buyers. Sales of
base, and represents almost 10% of a global market that recent
contemporary art, prints and multiples, and art books have
reports have valued at $45 billion or higher.
all been met with success.
One of the global market leaders for online sales is
Often the volume of work, and the wide range and variety
auction house Christie’s, whose internet sales last year
on offer because it can be accommodated on the online
generated $72.4 million, an increase of 12% year-on-year.
platform, can prove intimidating to the buyer. Themed
Perhaps more important than the revenue they generate,
auctions circumvent these issues and enable collectors to
these sales produce a major influx of new customers, causing
pick out their favourites easier.
68 / Creative Feel / November 2018
