IEG Industry Insights - Digitization in the Art Market
This report aims to provide an overview of how technology has changed the traditional art market and summarize the underlying trends moving forward.
FOR A LONG TIME, the art market has been attributed to the world of the extremely wealthy, well-known for its exclusivity and lack of transparency. Traditionally, art was bought through dealers, galleries, auction houses, and fairs. While lagging behind the digitization of other industries based on similar business models, such as plain-vanilla e-commerce, the art market is experiencing a continuous shift towards the online world.
WITHIN THE PAST YEAR, IEG – Investment Banking Group has acquired deep expertise of the art market by advising art start-ups, such as Auctionata (several financing rounds; merger with its US competitor Paddle8). Thereby, IEG has come to the conclusion that the revolution in the art market has already begun, already highlighting the importance of new products and services regarding the future evolution of this industry.
THIS REPORT AIMS TO PROVIDE AN OVERVIEW of how technology has changed the traditional art market and summarize the underlying trends moving forward.
IEG INDUSTRY INSIGHTS - DIGITIZATION IN THE ART MARKET (16 pages)
THE ART MARKET
Evolution and History
Risks in the Art Market
DIGITIZATION IN THE ART MARKET
Online Art Market Overview & Trends
Online Art Sales Development
Opportunity in Mobile
Importance of Social Media
Opportunity In Mid Market Segment
Legacy Players Struggle To Switch Online
Annual VC Investments in Art Market Startups
Selected Active Art VC Investors
THE ONLINE ART LANDSCAPE
TOP 8 ART START-UPS
APPENDIX: RECENT M&A TRANSACTIONS
Philipp Hartz (Vice President)
Eike Reus (Associate)
Eymen Ölcer (Financial Analyst)