A new study conducted by Toluna Research Group on behalf of the online art gallery UGallery reveals that nearly 70 percent of people have never purchased artwork for their home. Almost 50 percent of these people cite cost as the barrier.
Key findings from the study include:
- It’s Too Exclusive. 67 percent have never purchased art, underscoring the perceived barriers to art access.
- It’s Too Expensive. 48 percent cite cost as the primary obstacle to buying art.
- It’s Too Intimidating. 20 percent found buying art from a gallery to be the most intimidating shopping experience of all, more so than shopping for real estate or a car.
When asked what would make them comfortable buying art, 36 percent said an “easy, money-back return policy,” 30 percent want to better understand the background of the artist, and 25 percent cite a “virtual way to look at the art on their walls.”
Millennials, the ‘touchscreen generation,’ were understandably more inclined to browse online, as they prefer online sites for all shopping experiences, as opposed to the traditional in-person sale. Per the data, 30 percent seek virtual methods for experiencing art before committing to a purchase. They were also four times more likely to buy art online.
These factors may explain the growth of online art galleries. According to to the Deloitte and ArtTactic “2013 Art and Finance Report,” online art is booming, with over 300 web-based art ventures having launched in recent years. According to the Hiscox 2013 Online Art Trade Report, “At least 71 percent of art collectors have now purchased artwork online.”
“Many people think art – particularly original art – is prohibitively expensive because they hear about the multi-million dollar auction results or get blinded by the number of zeros on the wall of their local galleries,” said Stephen Tanenbaum, President and co-founder of UGallery. “Online galleries have the ability to offer a wide range of artwork and prices, with original art that’s actually affordable.”
UGallery is a curated online art gallery that sells original, one-of-a-kind artworks from emerging and mid-career artists. Founders Stephen Tanenbaum, Alex Farkas, and Greg Rosborough came together in 2006 to create a revolutionary approach to online art sales that democratizes the entire art buying process. Clients can browse the collection by price, medium, style, size, color, or artist and give any piece a week-long test run in their home risk-free.