ONLINE ART SALES REACH $3.2BN IN 2012 by Marion Maneker Buried - TopicsExpress

ONLINE ART SALES REACH $3.2BN IN 2012 by Marion Maneker Buried at the end of Georgina Adam’s important mini-essay on the growing threat to price transparency presented by online art sales which have taken the counter-productive stance of making their sales results opaque as a default. The Auction Room, which is selling Charles Saatchi’s hodings of Contemporary Middle Eastern artists, seems to be promoting the “offer-without-consequences” advantage. Adam contacted Clare McAndrew for comments on the overall trend. But McAndrew, the economist responsible for TEFAF’s annual report on the art market, reveals this fascinating figure: "She estimates that online sales in 2012 were about $3.2bn – 1 per cent of the global ecommerce market – and says that the market could reach close to $11bn by 2017." _ArtMarketMonitor

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