Artnet forges ahead with online auctions

  • July 04, 2011 14:59

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Artnet Auctions sold an edition of Robert Indiana's American love, 1972 prints, serigraph / screenprint, for $4,025 in March 2011.

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.

Read more at New York Times


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