The Art World Today (According to the Numbers)

When we think of art, our mind immediately goes to tangible things like paintings or sculptures, but the concept extends so much further. Art is the ultimate expression of feelings, experiences, and what can’t always be summed up. It takes careful commitment and has the ability to travel beyond time and open worlds we might not explore otherwise.

Today’s digital landscape has created an online ecosystem for artists, collectors, and appreciators to share experiences and achieve their goals, whether that’s to sell their work, add to their collection, or simply find inspiration with a few clicks of a button. Digital spaces have become just as essential as physical ones, and artists and galleries alike need to adapt with the times.

While art is priceless, having a place in the market can be competitive, especially in today’s creator economy, where there is so much content to navigate, even in the art world. However, creating a space for art in the digital world can be just as much an extension of the artwork created. Building an engaging online marketing strategy can be part of the creative process, expanding your reach while maintaining the inviting nature of your work.

Let’s take a look at how to build out your content marketing materials in a way that matches the effort put into your creations and displays them just as intentionally. But first, we need to consider how the industry looks today.

1. Online Auction

The number of online-only auctions has increased dramatically in recent years. With the pandemic driving most auctions online in 2020 and 2021, operations have changed for auction houses worldwide. This pivot has created new possibilities within our digital spaces, and the hybrid model continues into 2023, with large houses leading the way. Some online auctions have shown smaller collections while larger auction houses, including Christie’s and Sotheby’s, are continuing to set the tone on how this model could continue to shape consumer behavior. Only time will tell if the hybrid model goes from a trend birthed out of necessity into a longstanding tradition, but if art fairs are any indication of where things are headed, there’s a good chance that online auctions are here to stay.

2. Art Fairs

Art Basel and UBS conducted a survey in 2022 to get a pulse on how art collecting has shifted in recent years. They found that art fairs are growing in popularity, and what’s most notable is that, like auction houses, a hybrid model of showing and selling work is becoming the standard. 65% of those who’d purchased art from a fair in 2022 did so in person, while 59% bought through an online viewing room. This means there’s overlap in the participants, with a noteworthy percentage of patrons having purchased both in-person and online.

This could be due to an abundance of caution from patrons since the events of 2020, but it’s just as likely due to the convenience it affords. Buyers who might otherwise need to travel to attend can now enjoy purchasing artwork remotely through online viewings. This helps save time and cut costs associated with in-person attendance, giving entry-level patrons better access to art. For those with a goal to make their event more accessible, this could be a significant step in the right direction.

In the same UBS survey, 95% of high-net-worth collectors also indicated that they had made purchases in 2022 without viewing them in person. 51% of said group does this regularly, meaning setting up your work online is a worthwhile and long-term investment. We can see that making artwork available online is a sure way to make them accessible to larger audiences and convenient for those in the position to collect regularly.

3. Social Media

From home decor shopping to gathering inspiration for the next collection piece, social media has completely changed the way we engage with the world around us, and this most certainly includes art.

Social media sites like Instagram and Facebook have become must-have tools for artists with an entrepreneurial spirit who want to get the word out about their work and even monetize it. And this makes sense because it’s where their audiences are. Statistics found in a 2020 study that 87% of art buyers use Instagram to discover artists. Whether you’re looking to get a buyer's attention for a gallery or someone looking to add a piece to their home collection, the number of eyes you can attract in a single day on social media is nothing to ignore.

With that in mind, social media isn’t always the preferred platform for art to be seen and appreciated online. Some find it takes away from the allures of the art world, especially galleries that have carefully curated collections meant to be seen and experienced in person. For some, Instagram isn’t a place to show whole collections, which is why timeless resources like catalogs are just as necessary today as ever.