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Research: The market for fine art however continues to A Social (Media) Aspect: Online sales made up a stag-
grow. Every day another auction record is broken for gering 25% of total sales in 2020, from 9% in 2019.
the "highest ever paid" price. News headlines in the art This is the first-time art-e-commerce has outperformed
market always excite. The typical example all-time high: general retail. To invest in art, you don't have to be a
The 600-year-old Leonardo da Vinci painting “Salvator Billionaire. Social media is still a key channel for artists,
Mundi” was the most expensive ever sold painting at collectors, and art lovers. It allows you to reach new
an auction in 2017. It was sold in 2017 and is now people, build markets and make actual sales. Imagine
worth an astonishing 450 million dollars.
w o
t h a t : A
that: Around a third of collectors have purchased fine
art via Instagram in 2020. It is very important to con-
Although artworks that are worth millions of dollars sider this social side of collecting: Collectors are moti-
will be featured in the news, that doesn't mean that art vated by many different motives. They are now buying
is not affordable. Prices for artwork vary greatly. What artworks to enjoy and support artists, not just for in-
does this mean for the painting that you bought years vestment purposes
ago? It might increase in value, or it could decrease. As
with all investments, it is important to research the An Online Buyers’ Market: There are many options
market and look beyond your comfort level. You can fill online and offline. Collectors are increasingly turning to
y o u r h o m e i n i m online selling, online galleries, ecommerce and selling
your home in images that could be valuable assets
later on, even though the art market is unpredictable platforms such as KOONESS. In fact, online auctions
and not all investments will succeed. The internet can and social media have become more popular with
be a great place to find information from other collec- online sales. Young collectors can even get works di-
tors. ARTNET and ARTPRICE provide valuable informa- rectly from artists through social media platforms.
tion about previous sales.
The art market is now extremely accessible thanks to
Timing: Artists and art are in and out fashion all the the internet and social media. Young and new collec-
time, so timing is always important. Art is not created tors are a growing number of investors. Anyone can
for the immediate future, but for eternity and when it view new artists.
comes to investment, then it is for the long run. For Anyone can do research on the artist's history and
any kind of art, there may not be an immediate popularity. And anyone can buy art online. But it is still
market. According to RBC Wealth Management, art can a good idea and common practice to visit a gallery or
be more volatile than stocks due to its illiquidity and art fair in order to view the artwork in person.
the lack of liquidity in the market. The art market does
t h e l a
not have a time limit. It's possible to have a piece that
you want to sell but not a market. But there can be a
market sooner or later.