Are OVR’s The Future of Art Sales? Insights from London’s Olyvia Kwok

As the world continues to adapt to new ways as a result of the pandemic, this article discusses whether Online Viewing Rooms (OVR's) are the future of art sales. 

Are OVR’s The Future of Art Sales? Insights from London’s Olyvia Kwok

In the past couple of years, we have seen the world turned upside down. With the COVID-19 pandemic limiting the amount of social contact that we have been able to have with one another, the world has turned to technology to enable us to continue with some semblance of normality.

Whether it is with meetings via virtual conferencing, children taking lessons online, watching your favourite musicians playing online, or the live streaming of football matches, we have all had to adapt the way that we have lived our lives.

And the art world is no different. According to Olyvia Kwok, art collector and investor for over 15 years, “despite sales declining overall, online sales are actually at a record high. They have doubled in value from two years ago.” This is a strong sign that the art market is increasingly moving online.

Online Viewing Rooms

There are a number of ways that the world of art is using technology in the buying, selling, and investing of art. One of these is the emergence of the OVR (Online Viewing Room). OVR’s at their most basic are a page on a website that displays the pieces of art that are for sale, with the piece’s basic details. OVR’s can, however, range from this basic level to a much more comprehensive display, with detailed information given, as well a links to be able to buy the piece of art.

When it comes to OVR’s, there are several aspects that should be considered if this trend is to continue and cement itself in the art world.

Worldwide Audience

For some, one of the greatest benefits of an OVR is that it opens up the art’s potential audience. It can be accessed from the four corners of the earth via the internet, meaning that there is a higher potential for people to buy it, at higher prices. It means that the art can be seen virtually by dealers, enthusiasts, and collectors across the world without the need to travel.

Online Shop

Another aspect to consider is the fact that the OVR is equivalent to being an online shop at its very basic level. It can be put on a par with any other internet shopping, so those who are looking to create OVRs for high-end art need to be creative in ensuring that their online galleries are culturally rich.  They may want to consider adding videos or other content such as artist statements.

Virtual Experience

OVR’s do not give those in the art world the ‘physical experience’ of attending a gallery or visiting an auction. It means that some elements are missing – the opportunity to network, for example, or to have face-to-face chats.

Display Flexibility

The use of OVRs gives a great deal of flexibility relating to what artwork is displayed, where, and for how long. Whereas moving artwork around, or ‘featuring’ alternating pieces of art or specific artists may be a little tricky in a physical gallery, this is not the case when it is done digitally. There are no limits on the amount of space that you have to use, no competition for space, and no time limits.

Data Collecting

Whether you are looking to make your OVR accessible to the whole world or just a select few, the fact that it is online gives you a good opportunity to collect data about your potential clients. Getting information such as email addresses gives you the opportunity to follow up with them after browsing, and demographic information can help in future artwork choices, for example.

Olyvia Kwok states that although “so many events were cancelled, a study showed 41% of HNW individuals made a purchase at a fair in 2020, while 45% bought work through an online viewing room.”

This shows that although OVRs are proven to have their merits and be the preferred way to view artwork for some, this is certainly not the case for everyone.

There is a sizeable proportion of the art world that still enjoys the art fair experience, and it is unlikely that this will change in the near future. What we are more likely to see is a more hybrid approach, whereby organisers incorporate both the virtual and actual experience to ensure a quality experience and the effective sale of high-quality art.

This is a user generated post from our wider Voice community and was not edited by the Voice team. We would love to hear your views too! Sign up for an account and make your Voice heard!

Author

Laura Butler

Laura Butler

Laura is co-owner at Outreach Lab, who specialise in providing content writing and SEO services to businesses around the world. Having worked in multiple start-ups over the years, she has experience in building businesses from the ground up. Laura enjoys writing content on a variety of topics, from business strategy, to marketing, SEO and sustainability.

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1 Comments

  • Olivia Wyatt

    On 3 January 2022, 11:30 Olivia Wyatt Kickstart commented:

    This was such an interesting overview of whether OVR's will be the future of Art sales in response to the changing world due to the pandemic. The hybrid approach you mentioned does seem a likely solution while we navigate a new normal :)

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