The Online Art Market Grew by 12% in 2017—and Other Key Takeaways from the 2018 Hiscox Report

Online sales of art and collectibles rose by 12% to $4.22 billion in 2017 but the pace of growth slowed and the share of collectors buying online fell, according to the annual Online Art Trade Report, released Tuesday by the Hamilton, Bermuda-based insurance company Hiscox Ltd.
The 12% growth pace was a slowdown from the 15% rise in 2016 and the 24% increase in 2015. The report is based on data provided by the art market analysis firm ArtTactic.

The total figure differs somewhat from The Art Market | 2018, the report written by Clare McAndrew and released this past March by UBS and Art Basel. That report estimated that $5.4 billion in art and antiques were sold online in 2017, a rise of 10% from 2016.
Robert Read, head of art and private clients at Hiscox, said that deceleration in growth made sense as the online art market transitions from an emerging market to a more established one.

Source: The Online Art Market Grew by 12% in 2017

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