," goes on to say that one gallery almost sold all of its prints and a rival site also took 100 orders for prints. (Selling, 1)
Also, in the second article cited, "Art and the Internet," an article found in BusinessWeek on 24 January, 2001, it claims that only 2% of international art sales, valued at $7 billion, are actually well-known and sold in public auctions with the help of the Internet. They look forward to a future where the value of art will be redesigned and modernized. Some online auction houses are creating new concepts to further open the art market, presumably setting up more dazzling designs and flash images to catch the attention of would-be art collectors.
However, in the fourth article entitled "Rough Time Online," from ArtNews of January, 2001, the journal declares that it has been a tough year for online sales of art, with many sites folding and others barely hanging on. "While those observers who are skeptical of the Internet's potential as a marketplace for high-end art note the financial instability of the past year, optimists point to an increasing number of new collectors who have emerged online." (Selling, para. 4)
While there are mixed reviews of the success of art sales online, sale prices seem to tend to be low. One new auction house brags that they are making "high quality investment art" available to the general public at up to half the normal retail price." (Selling, para. 7) well-established auction house, such as Sotheby's may represent and sell work much easier than other, lesser-knowns or unknowns: "Sotheby's, which reported first-half sales of $221 million, made $31 million over the same period in online sales alone." As they do in their actual plush auction rooms, the company will only sell upscale works of art. Recently, a sculpture with a bidding price starting at $500,000, was up for auction on Sotheby's site, it was the armless Venus statue by Aristide...
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