Online art sales double as pandemics accelerated the digitalization of the art world
With an enormous decline in sales of art and antiques around the world, the art world began to digitalize quickly, and online sales reached $12.4 billion, accounting for 25% of all art sales. Since 61% of 362 art fairs planned for 2020 were canceled, many organizations sought alternative solutions, inviting people to participate in their events online. The pandemics also changed the dynamics of global art markets, as China became the largest geographical market for art auctions, followed by the USA, and Great Britain. Since art dealers predict increased interest in art sales in 2021, and digitization is rapidly changing the art industry, we may be entering a brand-new era of art collecting.