Online art marketplace grows 110% in April amid coronavirus gallery and fair closures
Demand for buying art online has more than doubled amidst the coronavirus crisis, with one online art marketplace, Artfinder, recording its best month for sales in its seven year history, both in terms of total number of artworks sold and total value. The site saw a 110% increase in new customers checking out compared to April last year, selling an artwork every 12 minutes on average. Total number of artworks sold increased by 65% year on year, with over 1,000 artists selling during the month. Customers also spent more, with a 5% increase in average order value. The online interiors sector has been one of the industries to welcome so-called ‘Corona hyper consumers,’ with online home and leisure sector revenue growth in the UK up 134% year on year according to Statista. 1
CEO Michal Szczesny comments:
‘Covid-19 pandemic is affecting everyone without exception, including our artist and customer community. From art gallery and art fair closures to inability to shop for some essential art supplies – this crisis has been unprecedented in its reach. However, online art venues like Artfinder are enabling the art market to continue its operation in the pandemic age. As a marketplace business, we’re very lucky that our artists are able to continue creating, safely self-isolating in their studios and we’ve been able to
reassure our customers that we’re open for business and they can shop with us safely. We’re also delighted that more art buyers than ever are discovering for the first time the incredible convenience and quality that a marketplace like Artfinder provides to their audiences.’
Artfinder artist Julia Swaby comments: ‘It’s been nothing less than a miracle to have sold so much art at this difficult time. I’ve sold more than ever before and this has meant I can keep my studio afloat and not only that, it has reinforced my belief that art is essential to our wellbeing.
Many of the pieces I’ve sold have been expressivist works, depicting joy and hope. I currently exhibit through several major online galleries but the vast majority of my total sales come through Artfinder and during the pandemic this has been a godsend. ’The largest online marketplace for art, Artfinder is a VC funded startup, backed by the investors behind Spotify and Zoopla. Investors include Wellington Partners, Oxford Capital, Cambridge Angels , plus private investors in the UK, the US and Switzerland. In August 2019, Artfinder became the art world’s first B Corp, solidifying its commitment to its values to support artists and make art affordable and accessible.
For press information
Please contact: Jane Verity Head of Communications for Artfinder E: firstname.lastname@example.org T: +44(0) 203 637 4235, T: +44(0)7854 759 480
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