Online art sales surge in 2020
ArtTactic’s “2020 In Review” report which was published last week has produced some interesting findings. Art sales across all format at Christie’s, Sotheby’s and Phillips - halved in the year to July 2020. Sales to July 2019 fell from $5.7bn to $2.9bn in 2020. However it is a 500% increase in online art sales at the big auction houses that catches the eye. Sales to July 2020 rose from $69m to $412m. While this may not signal a tetonic shift in fine art buying patterns, it does show an increased willingness by buyers to partake in such transactions online.
