Are collectors still buying as much art online as they were during lockdown? We crunched the numbers to find out:
When online art sales took a great leap upward in 2020, we all heard the same explanation: People flush with stimulus checks or stock-market gains decided to invest in their surroundings because they found themselves spending more time at home than ever before.
As it turns out, it kept climbing. In 2021, more than $1.5 billion worth of art was sold online at Sotheby’s, Phillips, Christie’s, Bonhams, and Artnet Auctions.© 2022 Artnet Worldwide Corporation. Surprisingly, they actually just kept buying art online. Even as collectors ventured back into salesrooms for live auctions, revenue from online-only sales continued to grow. The $1.5 billion in digital sales generated in 2021 by the Big Three houses, plus Bonhams and Artnet’s own auction platform, represented a 35 percent jump year over year.
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