Online art marketplaces are enjoying a renaissance amid gallery closures

  • Date: 06-May-2020
  • Source: MarketWatch
  • Sector:Financial Markets
  • Country:GCC
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Online art marketplaces are enjoying a renaissance amid gallery closures

Demand for buying artworks online has more than doubled amid the coronavirus crisis, with one online art marketplace recording its best month for sales in its seven-year history.. London-based Artfinder has seen a 110% surge in new customers in April compared with the same period last year, with an artwork being sold every 12 minutes on average.. The total number of artworks sold has soared 65% year-over-year, with more than 1,000 artists selling that month alone.. As a marketplace business, we're very lucky that our artists are able to continue creating, safely self-isolating in their studios and we've been able to reassure our customers that we're open for business and they can shop with us safely.". Because the art is sold with a 14-day money-back returns policy, buyers aren't stuck with something they don't want in their homes..