Pieces such as JFK Jr.'s sail boat, which was offered on EBay's Great Collections, wouldn't likely be up for sale if it weren't for online auctions, Turner said. Critics say that fine art isn't made for online auctions, because viewing a piece on a Web site is no substitute for seeing it in person. In addition to being focused on physical works, the art world is largely relationship driven, based upon trust between dealers and collectors, so many sites offer advice and consultations to build trust with buyers. But even live auctions are attracting larger followings and auction houses aren't the intimate communities they once were. We're democratizing access to contemporary art to open up the art world to a larger audience.
Evidence suggests that buyers are willing to buy fine art sight unseen.
Scharf said ArtNet's business is booming. Many art professionals agree that the art market is going to move online in the next few years and that as collectors get more comfortable with buying expensive items online, more will purchase fine art. The real impact of the Internet on the fine art market may not be seen in the immediate future, though. Wired Digital Inc. All rights reserved.