The dynamism of the art market continues to grow despite the health crisis caused by the coronavirus pandemic. Art is now becoming a major profitable investment. The reason is that the craze for works of art continues to grow worldwide. In addition, major collectors do not hesitate to spend millions of euros to acquire the most sought-after works. The digitisation of the art market is also having a huge impact on the international art market. How can this exponential growth be explained?
The growth of the art market: what are the factors?
Art has been democratised for years and its popularity has led to an increase in the sale of works of art on an international scale. The biggest players in the art market are the collectors. This is because they do not hesitate to buy a single painting or sculpture for millions of euros. They are very passionate about art and take time to find the works they like in museums or galleries. On the other hand, there are art galleries, museums and art critics who buy quality works and put them up for sale at an even higher price. All this explains why the art market is growing rapidly and why investing in it can pay off. Discover hundreds of impressive works of art on estades.com.
Online art galleries, a major driver of the art market’s growth
Since the digitalisation of the art market, the sale of artworks has doubled in recent years. Online art galleries have rich catalogues of a wide range of modern masterpieces. The online market has actually made it easier to buy and sell art. You no longer need to be an expert to find a particular work. Artists are multiplying their works, as the demand on the market continues to grow and online galleries want to enrich their catalogues with new works of art.
The opening of art museums, a key factor in the growth of the art market
Every year, about a hundred museums open their doors, especially in China. It must be said that the museum industry has a big role to play in driving art sales. Museum owners are prepared to invest a considerable amount of money to fill the empty museum space. All this explains why investment in the art market has a significant impact on the current economy.