Going Going… Hammer falls with a click

Times Live | Graham Wood:


E-commerce, or online shopping, has revolutionised the retail world, but the art market has for some time been tentative about making forays into the online realm. 


New order: ‘Apocalypse’ by Keith Savel Alexander (South African, 1946-1998) sold for R292809

As Ruarc Peffers, a senior art specialist at art auctioneers Strauss & Co, says, there was a strong belief among galleries and art auctioneers that buying art involved a tactile, visceral response to a work, and that art buyers would insist on seeing works first-hand.

But as online art auctions have taken off around the world, it has become increasingly clear that is not the case. Peffers cites a report by UK art insurer Hiscox, which found in 2013 that 71% of its survey respondents said they had bought art sight unseen, and “65% of buyers are already extremely or very satisfied with their online art-buying experience”…


Read full article via source: http://www.timeslive.co.za/thetimes/2015/04/07/going-going…-hammer-falls-with-a-click