What’s the problem with Online Art Market? What’s going to happen in 2018?
According to Hiscox/ArtTactic, the online art market remains enigmatic. The whole world’s online market growth is slowing and the long anticipated consolidation of an over-crowded market remains elusive, even though a sizeable 81% of platforms expect more.
The problem of lack of transparency, especially concerning pricing, is the main issue holding the online art market back.
The art market is dominated by small and medium sized businesses who have historically been at the less tech savvy. These businesses are vulnerable and the research findings suggest that cyber criminals may be waking up to this, perhaps seeing the art market as a soft target.
The future of the online art market is guaranteed, although the shape remains a mystery.