The expansion of online galleries is ever-increasing, reaching new heights in quality and performance, and the benefits are felt by both artists and collectors. Online galleries have the ability to connect and facilitate exchange between artists and collectors from all over the world, develop mutual understanding and build partnerships and networks. The move from traditional to online galleries was met with an unprecedented success. Society has left behind its preconceptions about buying art online and we are more than ever embracing a new approach to consuming art in today’s technologically-advanced world.
Online galleries are establishing themselves in the contemporary art market, building trust and long-lasting relationships with collectors and artists, by offering them high-quality products and services, low costs and an unparalleled array of choices. Online galleries are a recent phenomenon, but have you ever wondered how it all started? What was happening at the time which enabled many entrepreneurs to start their business? Let’s take a closer look at when online galleries first arose, the ways in which they addressed the supply and demand, their strategies for success and the impact they have had on the global art market.
A brief timeline of e-commerce and online galleries
The e-commerce timeline traces all the way back to 1969 when CompuServe, “the first commercial American online service in the world” (source: Wikipedia) was launched. We would have to wait until the 1990s to notice a boom in the e-commerce industry, when e-commerce websites like Paypal and Amazon were founded. In the 2000s, consumers’ buying habits shifted towards wanting convenience, efficiency and an improved consumer experience. An exponential amount of online marketplaces selling arts and crafts were launched, such as Etsy in 2005, which proved to be extremely profitable.
Online fundraising became an increasingly popular practice in the 2010s, which benefited many startups including SINGULART. Thanks to Vitruvian Partners, their number one investor, SINGULART have been able to reach new collectors and increase their global reach and impact on the contemporary art market.
“This fundraising is a strong signal showing artists that we are here to stay and have the means to support them long-term.” (Véra Kempf, Co founder of SINGULART).
As time went on, technology evolved and began occupying a bigger place in our lives. Society became more and more comfortable with the idea of online shopping, especially younger generations who have grown up with the internet. 2017 was the year where we started noticing an exponential rise in the number of online galleries, when the David Zwirner Gallery launched its first online rooms and startups like SINGULART (founded in 2017) started flourishing.
Stay home and buy art
The COVID-19 pandemic and succession of lockdowns increased online transactions, given the fact that we were spending most of our time at home. The place culture occupied in our lives was put under the spotlight when museums and galleries were forced to close down. This led to a reimagining of what were thought to be short-term solutions with the development of online exhibitions, art auctions and fairs. Online galleries adapted to the pandemic by providing people with the opportunity to view and buy art from wherever they were.
Physical galleries were no longer seen as a priority, and the benefits of online galleries became increasingly pronounced. Artists were able to sell to a larger, more international audience, while customers appreciated the wider range of prices and choices. Online galleries offer a more laid back, comfortable experience to purchasing art for those who want to escape the pretentious world of art and wish to make a more informed decision. The lower prices and easier access to information offered on online galleries are a gateway for younger collectors to start their collection, as opposed to the higher prices generally found in traditional galleries.
Online galleries are here to stay. Sales have been on the rise since the pandemic and haven’t gone down. According to Statista, “in 2022, global online sales amounted to roughly 10.8 billion U.S. dollars, rising from around 10.2 billion U.S. dollars in 2021.” This steady increase shows that online galleries have become more and more prevalent in our lives and have reshaped the online art market.
Online galleries today
So what’s the future for online galleries? SINGULART remains on the forefront of new developments in the digital art world, expanding their global reach and highlighting their importance in the art market. The online gallery has founded their own paper magazine centered around contemporary art and artists. In 2022, SINGULART launched a design furniture section aimed to empower artists and designers. A SINGULART store has opened in Berlin, in the legendary KantGaragen, offering a beautiful selection of artworks.
Virtual reality and augmented reality allow art collectors to view artworks in an immersive environment, as for example with virtual exhibitions, which conveys the impression of being really there. Artificial intelligence is being used more and more in order to create personalized recommendations for buyers and for analyzing art trends.
We have only just begun exploring the potential of online galleries. No one was able to predict that buying art online would prove to be a highly successful undertaking, and yet here we are! The online art market proves it has nothing to envy from traditional galleries. Online galleries have visibly increased their digital interactions with clients and collectors, making it as personal as possible. Zoom calls, phone calls, emails… Communication has never been easier in today’s digital world. Online galleries provide an accessible and straightforward approach to buying art for its users, creating an environment where clients feel listened to and understood, owing to these innovative digital services.
