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HOW MOBILE AND ONLINE
ARE CHANGING THE ART
MARKET
I am CEO at Artfinder
My name is Jonas Almgren
8 years in New York
Co-Founder VIP Art Fair
and oneartworld.com
15 years in Silicon Valley
5 scale-ups: 2 IPOs, 3 acquisitions
Swedish, MSc Computer Science, KTH
HOW MOBILE AND ONLINE
ARE CHANGING THE ART
MARKET
WHAT MARKET ?
Gagosian
Hauser & Wirth
Marian Goodman Gallery
L&M Arts
Paula Cooper
$60 Billion
(Including antiques)
High end market
•$30 billion global market
•Tiny group of buyers buying from a tiny
group of resellers
•Supply is limited (sometimes artificially)
•It is higly opaque and co-dependent
•It can only be marginally improved by
internet
ARTSY
Reproductions market
• $70 billion market
• It is a global market
• It is a mass market
• It has already been disrupted
Middle market
What is the
Middle market?
•Affordable authentic art the middle and
middle-upper class can buy
•$60 billion market
•It is operated by local galleries selling to
local buyers
•The secondary market is almost non
existent
•It is growing. Buyers of reproductions
want unique pieces
•It has not been disrupted yet
Mass market for
authentic art
How to approach the
Middle market?
Sell high end artists?
How to approach the
Middle market?
Sell high end artists?
High-end artists have
little recognition in the
middle market
How to approach the
Middle market?
Sell high end artists?
Buyers don't find the
more conceptual art
produced by the high-end
artists appealing
How to approach the
Middle market?
Sell high end artists?
Limited edition prints?
Middle market buyers are
looking for uniques
How to approach the
Middle market?
Up the level of reproductions?
How to approach the
Middle market?
Up the level of reproductions?
Middle market buyers are
looking for authentic art, for
the “artist’s hand”… but this
that can’t be found in
reproductions and gift items
How Disruption works
Pre industrial market
Buyers only buy from the local sellers
Industrial market
Mass production and distribution
Modern market
Efficient marketplace provided
by players like Ebay or Etsy
How the Mass market
for authentic art is
being Disrupted
The market
becomes Personal
•Buyers and artists interact
•Artists become marketing
powerhouses on their own thanks
to social media
•It democratises the market for
artists
•You can be a star by popular
demand rather than gatekeeper
selection
The ROLE of the GALLERY evolves
•The curatorial aspect becomes
more important. Galleries become
recognazible brands.
•Social media challenges the role of
galleries as gatekeepers
MOBILE is more than
MICROTRANSACTIONS
•A big chunk of our sales happen on
mobile apps and we were the first
surprised!
•A mobile sale always happens at
the right moment, in the right place
•Inhibitions disappear
NOTIFICATIONS are HUGE
•Buyers following their favorite
artists
•Buyers following other buyers
•Buyers following taste makers
•Buyers discovering local galleries
via apps
•Artists receiving real time feedback
from their fan base
How STAR ARTISTS will be born
•The power of gatekeepers will
diminish
•The relevance of social network
popularity will increase
•What will happen if an artist rises to
the high end market? Will he keep
operating in this global market with
other stock?
Filippo Mineli, Shape 5
How does this affect ART
INVESTORS?
•Prices are driven by demand
•It is a liquid market
•Prices can go up or down!
a recap
The biggest chunk of
the market has
traditionally been
overlooked
The biggest chunk of
the market is growing
The biggest chunk of
the market has not
been disrupted
Disruption has huge
implications for
artists, galleries and
buyers
Disruption is happening
RIGHT NOW
Art Market Disruption

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Art Market Disruption

  • 1. HOW MOBILE AND ONLINE ARE CHANGING THE ART MARKET
  • 2. I am CEO at Artfinder My name is Jonas Almgren
  • 3. 8 years in New York Co-Founder VIP Art Fair and oneartworld.com 15 years in Silicon Valley 5 scale-ups: 2 IPOs, 3 acquisitions Swedish, MSc Computer Science, KTH
  • 4. HOW MOBILE AND ONLINE ARE CHANGING THE ART MARKET
  • 6. Gagosian Hauser & Wirth Marian Goodman Gallery L&M Arts Paula Cooper
  • 8. High end market •$30 billion global market •Tiny group of buyers buying from a tiny group of resellers •Supply is limited (sometimes artificially) •It is higly opaque and co-dependent •It can only be marginally improved by internet ARTSY
  • 9. Reproductions market • $70 billion market • It is a global market • It is a mass market • It has already been disrupted
  • 11. What is the Middle market? •Affordable authentic art the middle and middle-upper class can buy •$60 billion market •It is operated by local galleries selling to local buyers •The secondary market is almost non existent •It is growing. Buyers of reproductions want unique pieces •It has not been disrupted yet
  • 13. How to approach the Middle market? Sell high end artists?
  • 14. How to approach the Middle market? Sell high end artists? High-end artists have little recognition in the middle market
  • 15. How to approach the Middle market? Sell high end artists? Buyers don't find the more conceptual art produced by the high-end artists appealing
  • 16. How to approach the Middle market? Sell high end artists? Limited edition prints? Middle market buyers are looking for uniques
  • 17. How to approach the Middle market? Up the level of reproductions?
  • 18. How to approach the Middle market? Up the level of reproductions? Middle market buyers are looking for authentic art, for the “artist’s hand”… but this that can’t be found in reproductions and gift items
  • 20. Pre industrial market Buyers only buy from the local sellers
  • 22. Modern market Efficient marketplace provided by players like Ebay or Etsy
  • 23.
  • 24.
  • 25. How the Mass market for authentic art is being Disrupted
  • 26. The market becomes Personal •Buyers and artists interact •Artists become marketing powerhouses on their own thanks to social media •It democratises the market for artists •You can be a star by popular demand rather than gatekeeper selection
  • 27. The ROLE of the GALLERY evolves •The curatorial aspect becomes more important. Galleries become recognazible brands. •Social media challenges the role of galleries as gatekeepers
  • 28. MOBILE is more than MICROTRANSACTIONS •A big chunk of our sales happen on mobile apps and we were the first surprised! •A mobile sale always happens at the right moment, in the right place •Inhibitions disappear
  • 29. NOTIFICATIONS are HUGE •Buyers following their favorite artists •Buyers following other buyers •Buyers following taste makers •Buyers discovering local galleries via apps •Artists receiving real time feedback from their fan base
  • 30. How STAR ARTISTS will be born •The power of gatekeepers will diminish •The relevance of social network popularity will increase •What will happen if an artist rises to the high end market? Will he keep operating in this global market with other stock? Filippo Mineli, Shape 5
  • 31. How does this affect ART INVESTORS? •Prices are driven by demand •It is a liquid market •Prices can go up or down!
  • 33. The biggest chunk of the market has traditionally been overlooked
  • 34. The biggest chunk of the market is growing
  • 35. The biggest chunk of the market has not been disrupted
  • 36. Disruption has huge implications for artists, galleries and buyers