The marketplaces for art
Are marketplaces valid tools to enhance your digital strategy?
Buying online is now a way to access goods or services quickly and easily.
The trends that, in the last year, have seen a strong increase in online sales of works of art also say so: the data of the latest Art Market Report 2021 underlines a trading volume of $ 12.4 billion, thus representing 25% of global sales amounted to $ 50.1 billion.
Without forgetting the disruptive entry of NFT sales on platforms such as SuperRare, Nifty Gateway or OpenSea, protagonists of the most surprising sales in agreement with auction houses such as Christie’s, Sotheby’s or Phillips.
Today, more and more artists and galleries feel the need to access a virtual place where purchases are made which, for the world of art, are mainly of interest to works rather than services.
These spaces are marketplaces, which can generally be vertical (a single type of product) or horizontal (therefore different products and services): the first type prevails in the world of art.
But let’s take a step back: what is a marketplace?
A marketplace is a trading platform where artists and galleries can propose the purchase of works to collectors from all over the world. Each user has his own specific indexed catalog and manages orders independently, as well as returns, transactions and the documentation necessary to sell the work.
For galleries, the most famous marketplace is certainly Artsy, a platform that claims to have five-figure sales of up to 100,000 dollars.
For crypto artists SuperRare and Nifty Gateway are the marketplaces of the moment without a doubt.
How do you access a marketplace?
What distinguishes these platforms is the affiliation system which has specific characteristics established by the platform, through subscription plans, affiliate programs and commission percentages on sales.
But why would an artist or a gallery affiliate with these platforms?
For one thing, marketplaces generate huge user traffic, so there is a better chance of selling works through this channel.
Secondly, they have gained a certain reliability over time, both in terms of the shipping mechanism, and in terms of the simplicity and safety of purchase (a significant aspect considering the value of the works of art).
Other advantages that can be obtained from the art marketplaces are the increase in visibility and the growth of networking. Joining a marketplace means being part of a community capable of creating connections with international collectors.
Furthermore, depending on the platforms, it is possible to take advantage of collateral services to support one’s business such as consultancy and training (through for example webinars) for the definition and strengthening of digital strategies.
Are they therefore suitable platforms to increase your sales? Perhaps, but only if used according to objectives and within a precise strategy.
An important warning: selling on marketplaces is not improvised, it requires skills, tools, and tactics to be implemented in the short, medium and long term.
It therefore becomes essential to acquire specific skills or to make use of a professional digital strategist who will work by your side to help you outline the best strategy in national and international markets and increase your online visibility.
The Art Concierge of Art Rights is the largest Community of Art Professionals able to help you manage, enhance and promote your art!
And you, have you already tried to sell your works in an art marketplace?
Start certifying, managing and enhancing your art now with Art Rights!
Graphic: Jimoko, Sabrena Khadija, Lisa Whittington, W+G Creative