Art Market Overview: The Internet and Auction Houses

On 23 February 2021, by Agathe Albi-Gervy

On February 7, the Conseil des Ventes, France’s public auction watchdog, released the findings of a survey on French auction houses’ online bidding practices over the past 12 months.

 

The study reveals that professionals have ramped up their know-how. Some 85% of French auction houses say they want to adopt a digital strategy involving a website, social media (8 in 10 have accounts) and the development of online sales.

Of the 89% of auction houses that conduct online sales, 87% combine them with physical (or live) sales, while 24% carry out digital auctions only.

To hold their live sales, 95% of the French houses use platforms such as Interenchères (74%) and Drouot Digital (55%). The platforms report a sizable number of sales; they make up over a third of the total for 7 in 10 auction houses.

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