SHARING AMERICA'S TECH NEWS FROM THE VALLEY TO THE ALLEY
Sure, you can by posters and other cheap wall-hanging on Amazon. But the huge e-tailer is preparing to offer expensive art for sale online.
The gate-keepers of the art world have long dismissed online sales.
by Robert Frank, courtesy TheDailyBeast
No one will pay millions for a painting they can’t see in person, they have long said. Art is special. It can’t be bought and sold like a mass-produced book or computer.
But news that Amazon is making plans to sell pricey art online may shake the foundation of the art world. And it could accelerate a sweeping shift—already underway at the auction houses and some galleries—where the art market is shifting from exclusive galleries and auction rooms to the online screen.
Reports from the Art Newspaper and the Wall Street Journal say Amazon is making plans to sell fine art online. The reports say the company is working with galleries around the U.S.—perhaps more than 100—to act as an online art market and collect a commission on the sales.
The online retailer is reportedly planning a major roll out of a grocery delivery business, reports CNBC’s Courtney Reagan. And Kate Wendt, Wells Fargo Securities, weighs in on the impact this new service could have on grocers.
Amazon declined to comment on the reports.
Buyers can already purchase art on Amazon, but most of the items are cheaper posters, prints and watercolors. The most expensive pieces in the art category on Amazon tend to be under $400.
If Amazon starts selling six-figure or even seven-figure paintings, however, the company could send tremors through the staid world of professional galleries, famed for their big markups and limited market reach.
Thank you, TiA