“The aim of art is to represent not the external appearance of things, but their inner meaning”Aristóteles
With the first purchase of an artwork, a new collector is born. Do you know what are the main reasons to buy artworks?
• It is a symbol of social status
• It is an investment good tending to revalue in the medium / long term
• It is a hedonistic purchase, for the enjoyment of its owner
Art galleries, art fairs, online platforms, workshops or artist studios, auction houses and private distributors are the main channels for the sale of art.
These spaces promote and give value to the artists they work with, as well as serving as a conduit for cultural dissemination. Among them, the online art sales channel predominates.
The latest report by the artworks insurance company Hiscox reflects the growth of the online art market, which already represents 8.4% of the art market, with a value of 3,416 million euros (4,221 million dollars). And, everything indicates that this trend will continue in the coming years, exceeding 9,000 million dollars in 2021.
With respect to the type of artworks acquired, paintings and drawings remain the preferred format for online shoppers, but formats such as video or digital art gradually grow.
By age ranges, the document has pointed out that Generation Y (between 20 and 35 years) has increased its prominence in the online art market, the major audience of the art blog The Biombo.
And who are the art collectors par excellence? The latest studies point to cosmopolitan profiles. These have a high academic level, love cities with high cultural offer and have great purchasing power.
Unfortunately, Spain only captures 10% of cosmopolitan tourism, compared to 53% captured by the United Kingdom, and it is for this reason that work is being done to implement a quality tourism model that can attract an increasing percentage of people with love for culture.