More art buyers express a preference for buying art online as opposed to offline purchases. 29% of millennial art buyers said they preferred buying art online, compared to 14% a year ago.
55% of the online art buyers surveyed said they were likely to buy more art over the next 12 months, up from 52% in 2018, however, the outlook among younger art buyers (aged 35 and below) is more muted year-on-year, with 56% saying they were likely to buy more art online, compared to 63% in 2018.
The report is underlining one more growing trend. According to the paper, big spenders (collectors who spend more than $100,000 per year on art) are increasingly comfortable browsing and buying art online. The report notes that these big spenders are the most frequent visitors to online sales platforms, with 50% of them visiting multiple times per week.