The art market has undergone rapid, significant change over the past 10 years. Online bidding has emerged as the preferred method for acquiring rare, high-value artworks. This change is driven by a mix of technological development, evolving bidder behaviour, and the varied nature of economic conditions. Below, delve into why online bidding has become the go-to method for collecting personal and portfolio purpose art..
Widespread Access & Reach
Unlike the traditional auction experience, online bidding removes the barrier to attendance and opens up the market to a wide pool of potential buyers. Online forums span from auctions in Melbourne to Sydney, Adelaide, Canberra, Perth and all regional locations Australia-wide, increasing access, competition, and leading to stronger outcomes for all parties, including buyers, sellers and artists.
Convenience & Efficiency
The convenience offered by online auction houses is simply unmatched. Collectors and investors have the freedom to browse artist profiles, categories and upcoming auctions to efficiently prepare their budgets and their bidding strategies. Once the auction begins, bids and updates can be monitored from their smartphone, laptop or desktop, enabling participants to move at their own pace without having to adhere to the strict schedule of a live, in-person auction.
Price Transparency
Advanced online art auction houses, such as Charleston’s Fine Art Auctions, offer a vast amount of information, helping prospective buyers to delve deep into artists, disciplines and mediums that interest them prior to placing their bid.
This is a powerful development and allows users to enter into the online art auction as prepared, poised and positioned for success as possible.
No Physical Barriers
A key advantage to partaking in an online art auction is that it completely mitigates the limitations and barriers to entry that many traditional in-personal auctions pose. Without the need for travelling, scheduling, parking and organising shipping independently, online art auctions deliver a next-generation experience that allows more buyers to engage with the thrill of the art auction from the comfort of their location of choice.
Enhanced Technology & Security
Online art auctions offer a secure end-to-end process, and the price auction house will provide trusted, verified information and artworks that buyers can secure. Advanced technological processes only pose to strengthen this benefit, with exciting evolutions promised to make the online auction space even more advanced in the next coming years.
With so many benefits and advantages, it is clear to see why online bidding has become the preferred method for art acquisition in Australia and across the globe. Simply register, verify your details and set yourself up for bid to begin engaging with the auction houses of the future.