How Instagram Shakes Up The Art Market
In art, these days young collectors purchase their art via Instagram without having seen the work in real life. With just a few messages back and forth and the sale is closed. “There is a risk in it but those who don’t dare doesn’t win.”
Instagram as a visual archive
The New York Times pointed out that Instagram has gradually become a driver of change for the art world. A growing group of collectors approaches a gallery or artist directly via the app. A few messages back and forth and the sale is closed, while the work has not yet been seen in real life, such as when visiting a trade show or gallery.
According to the collectors of Young Collectors Circle, there is 95 percent of the 550 members who use Instagram to discover and follow new art. At the Young Collectors Circle, young or beginner art collectors learn to build a collection through workshops and events. It was estimated that a quarter of those members have approached an artist or gallery via Instagram.
Art advisor and gallery owner Marta G said that buying via Instagram is still relatively limited. “There are no figures, so the size is speculated.”
There are two types of transactions via Instagram as follows:
1. The higher segment. In the first there is already a relationship of trust between the buyer and seller – the buyer knows and follows an artist, a gallery or an auction house. Instagram gives an extra boost or extra information and simply speeds up the transaction. It could also be via e-mail or website. In the higher segment, the art advisor says, most collectors are not really concerned with the app when it comes to purchasing.
“If you buy work for hundreds of thousands of euros, you usually want to see it in real life. Works based on a photo are also sold in the higher segment, but then there is a long-term relationship of trust between buyer and seller. ”
2. The cheaper segment. The second type of transaction is people who operate in the cheaper segment: up to 5,000 euros. They are mostly artists without a gallery and collectors looking for discoveries and bargains. Their following could be a boost from woogram – meer volgers op Instagram.
The contemporary art world has grown enormously in recent years, including the group of people who call themselves artists. There are good, but also a lot of bad ones. Many of them post their work in the hope that someone will buy them or offer a show. In addition, buying at this group is at your own risk; at an existing gallery, you can assume that the purchase is reliable if you pay online.
Young art buyers shop online
The Dutch gallery world is lagging behind the use of Instagram compared to those from the United States.
“Some haughtiness is being said about the medium because art is seen as a very good thing. That is it, but it is also a product that you have to sell. This app makes that much easier. Many galleries are not very inclined to change, while in the art world you are at the forefront of change. It is not a replacement, but it is an important addition. “
Recent research by the Dutch Gallery Association shows that there is a shift going on art buyers between the ages of twenty and forty often orient themselves online. And 40 percent of this group buys through an online sales channel. Artists themselves also respond to new trading opportunities.