Artnet forges ahead with online auctions
- July 04, 2011 14:59
Although its online auction business has not yet turned a profit, Artnet has now sold more than 6,500 objects or artworks, generating $2.5 million in commissions on $12 million in sales in 2010.
With a few exceptions, the lots offered represent the low-to-mid price range. The average price of an artwork won through an Artnet auction falls at about $6,800, up from $5,600 last year. Evenwhile growth is slow, Artnet is one of many companies that believe the time might finally be right for a sizable portion of the art market to begin migrating online, reports the New York Times.
![Peter Paul Rubens (Flemish, 1577–1640), After Titian (Tiziano Vecelli) (Italian [Venetian], c. 1488–1576), Rape of Europa, 1628–29. Oil on canvas, 71 7/8 x 79 3/8 in.](/images/c/e2/2e/Jan20_Rape_of_Europa100x100_c.jpg "Peter Paul Rubens (Flemish, 1577–1640), After Titian (Tiziano Vecelli) (Italian [Venetian], c. 1488–1576), Rape of Europa, 1628–29. Oil on canvas, 71 7/8 x 79 3/8 in.")
100x100_c.jpg "Diquis/Chiriqui pendant depicting two figures within a framework of linked gold rectangles, 22K gold, Costa Rica, weight 129.6g. Estimate $7,000-$8,000")
