Are OVRs The Future Of Art Sales? Insights from London’s Olyvia Kwok Decani
In a world of modern technology, ease-of-access is becoming a key part of our society. This has meant a sharp rise in online events so that they can be accessed by anyone from anywhere in the world. With just one click of a button, people are now able to watch live fashion shows, attend concerts and stream conferences all from the comfort of their own homes.
Art is no expectation in this. In fact, over the past few years the art world has increased its online presence. According to Olyvia Kwok Decani, art collector and investor, “despite sales declining overall, online sales are actually at a record high. They have doubled in value from two years ago.” With this in mind, it is plausible to expect the art world to increase its online presence even further in the foreseeable future.
OVRs are at the heart of the online art world. Let’s take a look at how OVRs are shaping virtual art and how they might affect the industry in the future.
Firstly, what exactly is an OVR?
OVR stands for ‘Online Viewing Room’. OVRs are a virtual platform on which art lovers can view creations from their laptops, tablets or even from their smartphones! Therefore, galleries and expositions can be viewed from anywhere in the world!
Art enthusiasts and collectors use OVRs to view the latest pieces, without having to travel to a specific location. This allows them to keep an eye out for good buys and stay ahead of the forever changing art industry.
OVR also makes it possible to keep the art industry alive despite cancelled events. Oluvia says 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.”
What does OVR bring to the art world?
OVR has a number of benefits that could boost the future of the art world! Namely, OVR provides artists with the ability to show their art to absolutely anyone with very few restrictions. This expands the number of potential buyers, which could also bump up the price of art pieces!
One of the biggest benefits of OVR is that it allows art to go global! This means that potential buyers from around the world can view art pieces that spark their interest- increasing the potential sales for artists.
The global benefit of OVR will also allow greater insight into different cultures. For example, English art enthusiasts could view auctions and expositions from places such as China, Africa or even Australia. Having access to these places could ims[ire artists to adopt new styles, inspired by different cultures from around the world.
OVR makes buying new art pieces easier than ever! We all know how convenient online shopping is. You can add things to your basket without leaving bed and pay through face ID or with a simple passcode. The convenience of online shopping that is provided through OVR is expected to increase art sales and encourage more people to buy art.
OVR means that art displays can be changed quickly, to provide a constant stream of new work for art enthusiasts to view. In a traditional gallery, it can take hours (even days) to set up new displays and create a different showcase. However, OVR allows industry experts to be flexible with the art that they choose to show. Updated and new art pieces keep viewers interested and make online viewings incredibly popular amongst those who have money to spend.
The main drawback of using OVR is that art lovers aren’t given the full gallery experience. At physical art shows, enthusiasts are able to meet new people, discuss art pieces and see artwork in real life before deciding to buy. However, this same experience cannot be replicated online. Therefore, it could be argued that OVR could take away from the essence of art shows. As a result, many enthusiasts may choose to stick to real-life galleries instead of buying online.
There is no denying that OVR will play a huge role in art sales in the future. This is mainly due to the many benefits that OVR can bring to the art world. However, the interactive element of live art viewings cannot yet be replicated online so, many enthusiasts will continue to attend galleries in person.