ArtNet's Scharf agrees that experience and expertise, rather than numbers, will determine which sites will thrive. A large selection is only viable if all pieces are checked for quality. Who does that best will win the game. The company wants to widen the art market, yet give people the same level of service they would receive at an auction house or gallery. Collectors can rent art works from galleries, private collections, corporations, and previously unseen permanent museum collections for as little as three months to as much as 10 years.
Tax deductions provide an added bonus to corporations and first-time collectors who lease.
By eliminating the premium many fine art dealers charge buyers, online auctions and sites that sell directly often make art more affordable. But with more online bidders competing for rare objects, prices can soar and auctioneers can collect higher fees. With pressure to buy quickly, inexperienced bidders may end up paying more in an auction than through a gallery, Peck said. Others say that high-priced items are already making their way onto the Net. 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.