Smith & Singer

Online Art Auctions Surprise on the Upside

June 10, 2020

Financial Review  |  Gabriella Coslovich

The sums that art buyers are willing to spend online have crept up, reflecting a pragmatic shift that has occurred across the economy during the pandemic.

Only a month ago Saleroom reported that the comfort threshold for online bidding hovered around $50,000, with a couple of notable exceptions five and six years ago. But in the space of two weeks we’ve seen an internet bidder pay $190,000 (hammer) for the 20.246 carat “Wakil Emerald” at Smith & Singer’s online jewels auction, and another collector rise to a $100,000 internet bid for Del Kathryn Barton’s portrait of Hugo Weaving at Deutscher and Hackett’s inaugural solo online auction last week. 

 

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