The estimated value of the global online art market rose in 2022 over the previous year, following a sharp increase experienced with the onset of the coronavirus (COVID-19) pandemic. 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. By way of comparison, the value of the global art market was almost 68 billion U.S. dollars in 2022.

Do consumers prefer buying art online or offline? According to a global survey of art buyers focusing on the favorite channels to purchase art, physical spaces were more popular than online marketplaces. In 2022, only 12 percent of respondents mentioned online sales channels as their preferred buying experience. Meanwhile, nearly half of the sample did not express a particular preference.

What are the social media platforms most used by art buyers? A 2022 study on the social media platforms most used by art buyers worldwide showed that around seven in ten respondents used Instagram for art-related purposes that year. By contrast, just 12 percent of surveyed art buyers mentioned Facebook, and less than five percent used TikTok.

The United States was the leading art market worldwide in 2023, generating 42 percent of the global art market value. That year, China ranked second, accounting for 19 percent of global sales. The United Kingdom followed in third place, representing 17 percent of the market. How much is the global art market worth? In 2023, the sales value of the art market worldwide amounted to 65 billion U.S. dollars, reporting a decline over the previous year. While the volume of transactions in the global art market experienced an annual increase in 2023, it remained slightly below the figures recorded before the coronavirus (COVID-19) pandemic. What is the value of online art sales? With most in-person sales and events being canceled or rescheduled during the health crisis, art dealers, fairs, and auction houses strengthened their digital departments, causing a boost in global online sales of the art and antiques market. In 2023, the value generated by online art transactions totaled nearly 12 billion U.S. dollars, remaining way above pre-pandemic levels.

Online sales in the art and antiques market worldwide increased by 7.3 percent in 2023 over the previous year. In 2023, global online art sales amounted to nearly 12 billion U.S. dollars, remaining significantly above the figures recorded before the coronavirus (COVID-19) pandemic. Overall, the art market value worldwide totaled 65 billion U.S. dollars in 2023, experiencing an annual decline.

This statistic depicts online art sales of selected top auction houses worldwide from 2015 to 2019. According to the source, Heritage, based in Austin TX, accounted for the highest online art sales in 2019 - generating a total of 484 million U.S. dollars. Comparatively, online sales of Sotheby's amounted to approximately 250 million U.S. dollars in 2019.

Global sales in the art and antiques market declined by four percent in 2023 over the previous year. Overall, the total value of transactions in the art market worldwide amounted to 65 billion U.S. dollars in 2023, decreasing from nearly 68 billion U.S. dollars in 2022. Over the same period, the sales volume in the art market worldwide increased by four percent but remained slightly below the figures recorded before the coronavirus (COVID-19) pandemic. The new normal of the online art market With the onset of the COVID-19 pandemic, auction houses and art dealers strengthened their digital departments to cope with the lockdowns and closures enforced due to the health crisis. As a result of the digital boost, online sales of the art and antiques market worldwide skyrocketed in 2020, then remained way above pre-pandemic levels in the following years, reaching nearly 12 billion U.S. dollars in 2023. The rise and fall of NFT sales When in March 2021 auction house Christie’s sold an NFT-based work by American artist Beeple for 69.3 million U.S. dollars, the interest in non-fungible tokens and crypto art exploded. That said, the total sales value of art and collectible NFTs worldwide experienced a dramatic annual decrease in 2023.

As of the first half of 2021, fine art accounted for the highest share of online art sales worldwide, representing 27 percent of all art sales on online platforms. Jewelry and watches made up 22 percent of global online sales, while furniture held 16 percent of the online market.

Gallery transactions accounted for 44 percent of the global value of art dealer sales in 2023, declining by three percentage points over the previous year. While combined sales at overseas and local fairs only accounted for 13 percent of the total value in the first year of the coronavirus (COVID-19) pandemic, they represented 29 percent of art dealer sales in 2023. Meanwhile, sales from online channels generated 23 percent of the total transactions' value in 2023.

In 2022, lots sold at online fine art auctions in the United Kingdom accounted for seven percent of the country's total sales value. Meanwhile, online sales consisted of just two percent of the total sales value in the United States and one percent of the total value of transactions from fine art auctions in China.

Total online sales in the art and antiques market worldwide increased by roughly seven percent in 2023 over the previous year. Overall, the value of online transactions in the global art and antiques market remained significantly higher compared to the figures reported before the coronavirus (COVID-19) pandemic, totaling around 11.8 billion U.S. dollars in 2023. The NFT art market The figures on the online transactions in the global art and antiques market do not include the sales value of art and collectible NFTs worldwide. In 2023, global sales revenue of both collectibles and art-related non-fungible tokens experienced a sharp annual decline. When focusing on the NFT art segment, Art Blocks was the non-fungible token art collection with the highest market cap as of December 2023. What is the size of the global art market? In 2023, sales in the global art market totaled 65 billion U.S. dollars, denoting a decline over the previous year. Meanwhile, the volume of transactions in the art market worldwide rose by around four percent over the same period but remained below pre-pandemic levels.

This statistic shows online art sales as a percentage of total sales worldwide from 2016 to 2018. In 2018, online art sales accounted for 29 percent of total art sales worldwide.

According to an August 2021 study, 97 percent of surveyed online art platforms expected sales to rise in the following 12 months. The share of the survey sample predicting a positive outlook for online art sales increased over May 2020, when around eight in ten respondents forecast a sale growth during the following year.

According to an annual study focusing on the purchase behavior of art buyers worldwide, acquiring art in physical spaces was more popular than buying art online. In 2022, 44 percent of surveyed art buyers preferred the offline buying experience, while 12 percent mentioned online sales channels. Overall, nearly half of the sample did not have specific buying preferences. In 2022, total online sales of the art and antiques market worldwide amounted to roughly 11 billion U.S. dollars.

According to a global annual survey, the share of art buyers reporting having bought art and/or collectibles online declined in 2022 over the previous year, after growing sharply with the onset of the coronavirus (COVID-19) pandemic. Overall, 78 percent of respondents said to have purchased art online in 2022. While this figure denoted a drop of seven percentage points from 2021, it remained significantly higher compared to pre-pandemic years. In 2022, total sales of the online art and antiques market worldwide amounted to roughly 11 billion U.S. dollars.

This statistic shows the sales growth of selected online art companies in 2015. The online art company Saatchi Art had an online sales growth of 36 percent in 2015 over 2014.

A global study conducted in July 2023 revealed that most surveyed art collectors paid an average of less than 1,000 U.S. dollars per digital artwork. While 86 percent of respondents reported paying so, just 10 percent of the sample mentioned to have paid an average of more than 1,000 U.S. dollars per digital artwork.

Invaluable.com is a leading global online platform for auctions of art, collectibles, and antiques. Between 2014 and 2020, the share of online art auction sales conducted on Invaluable by auction houses with revenue under one million U.S. dollars increased significantly. In 2020, roughly 26 percent of such auction houses' total sales came from online sales on Invaluable.

This statistic depicts the level of buyer loyalty to online art sales companies worldwide as of April 2019. According to the source 18 percent of respondents never feel loyalty towards the online sales companies they have bought art from. Comparatively, 10 percent of respondents stated that they always feel loyal towards the companies they buy from.

A May 2021 study examined art collectors' favorite online sales channels to purchase art. Overall, a quarter of survey participants preferred online art marketplaces, making this channel the most popular. Gallery websites and viewing rooms were preferred by 23 percent of respondents, whereas 16 percent of the survey sample claimed to use Instagram to discover art online.

According to a global study of art dealers, political and economic volatility ranked as the main challenge in 2023/2024, as indicated by 36 percent of the sample. Maintaining relationships with collectors followed in the list that year. While 22 percent of surveyed art dealers mentioned that widening the geographical reach was among the biggest concerns in 2023/2024, this share rose to 31 percent when asked about the next five years.

Online auction sales of Christie's decreased by 8.9 percent in 2024 over the previous year. After experiencing a sharp increase with the onset of the COVID-19 pandemic, peaking at 445 million U.S. dollars in 2021, the company's online-only sales amounted to 336 million U.S. dollars in 2024. That year, total sales of Christie's worldwide experienced a 6.6 annual decline.