From Antiques Trade Gazette, 14 May 2016
Mirroring the trend of the general online luxury goods sector, the 'virtual' trade in art and antiques has more than doubled in three years, according to the findings of the fourth Hiscox report.
Fuelled by the expansion of a number of online platforms, the report says online sales in 2015 have reached an all-time high at $3.27bn (up from $2.62bn in 2014 and $1.57bn in 2013) prompting Hiscox to predict further growth of 24% this year.
The wider luxury goods sector has grown 27% year-on-year since 2009.
A total of 672 buyers were surveyed for the report through ArtTactic's mailing list. Of these, 10% said they ... Read more