Latest market report: The Online Art Market is Booming

Art News from Switzerland. Published by ArtAndOnly - Platform for Art Collectors on Monday 09 May 2016.

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Art insurance company Hiscox recently released its fourth annual report detailing the state of the online art market. Their findings (with data gathered by art market research firm ArtTactic), confirm indications in last month’s TEFAF report that the global art market for online sales are at an all-time high.

Artsy added to the findings with an good article about “The Five Takeaways That You Need to Know”. Be sure to read the article and full report, but here are some of their key points.

“Online sales jumped 24% last year, to a high of $3.27 billion. Fueled by the expansion of a number of online platforms, the online art market has grown from $1.57 billion in 2013, to $2.62 billion in 2014, to last year’s figure of $3.27 billion…