Released today: 2017 Hiscox Art Trade Report
(Artdaily.org)

The fifth annual Hiscox Online Art Trade Report, published today, shows that the online art market is still growing – despite increasing competition amongst online platforms, and with further consolidation inevitable. Based on the current growth trajectory, the report predicts that the value of the online art market could reach $9.14 billion by 2022. Robert Read, Head of Art and Private Clients at Hiscox, commented: “The online art market has continued to grow despite the backdrop of a slowing global art market. Established global brands such as Sotheby’s and Christies are starting to dominate The Hiscox Online Art Sales Platform Ranking and appear to be getting to grips with the challenge of transforming a bricks and mortar business into a multimedia business. “Dealers continue to struggle online, though maybe they are making enough elsewhere.