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Will Coronavirus Permanently Shift the Art Market Online?
As authorities around the world impose lockdowns and mandatory social-distancing measures, art fairs, auction houses and galleries are increasingly beginning to experiment with online solutions that could help them develop sustainable business models. Unlike fashion and retail industries, that have embraced online sales years ago, the art world’s digital transformation has been slow and lagging. Could coronavirus be the catalyst that will entice the art world to permanently move online?
Art Fair Held in Viewing Rooms
Since the pandemic started in China, art fairs in this country were cancelled first. Faced with major financial losses, the organizers of Art Basel Hong Kong, one of the most important events of the year, have decided to host their event online.
A total of 235 participating galleries displayed over 2,000 artworks in digital online viewing rooms. Online viewing rooms allowed the buyers to observe the artwork, (displayed as it would be on the fair), inquire about the piece and purchase it online. Despite the initial glitches, Art Basel viewing rooms were a success. Renowned galleries like Gagosian…
