In a few days the art world will take a leap into uncharted territory with the launch of the VIP Art Fair, the first-ever contemporary art fair available exclusively online from Saturday January 22nd to Sunday January 30th. This unique venture gathers 139 leading galleries from 30 countries in a week-long around-the-clock event in which thousands of artworks from rising talents to established household names will be presented on the Internet for sale to an international set of collectors and curiosity-seekers.
This fair’s launch marks a seminal moment in today’s art economy. For while the Internet has revolutionized how commodities like books, music, airline tickets and clothing are consumed, it is often supposed that art operates in another realm altogether. Steep prices and sanctuary-like exhibition displays have certainly set the market for art distinctly apart from that of ordinary retail goods, and the lavish social rituals of its inhabitants lend the industry an air of preciousness seemingly at odds with the leveling force of hyper-connectivity, social networks – and tweets.
No longer. The fact of the matter is that while computer screens can never replicate the experience of seeing an artwork in the flesh, they don’t always need to either. For as the art world has globalized, the Internet has become a veritable social glue, interconnecting dealers and collectors more profoundly than ever before, and arming them with more information about the artworks at hand than piles of dusty catalogues of old.
The result is that art today is bought site unseen with increasing haste – whether through electronic bids placed at the major auction houses (where around a third of sales are now conducted online), or in the primary trade where dealers presell exhibitions and turnover their inventory through email communications, JPEGs, phone and Skype, often before collectors ever come in contact with the objects, themselves. And while lower priced editions and multiples still account for much art sold online, price points and the quality of goods on offer are on the ascent.
The VIP Art Fair is a natural extension of this changing landscape, offering a sophisticated and technologically-enabled solution for the trade. Images on the site can be zoomed in to reveal incredible depth, visitors can stream HD video artworks and an integrated messaging system sparks the beginnings of conversations in real-time.
The Fair’s ingenuity may also boil down to the fact that it does not aspire to turn art market conventions upside-down, but to thoughtfully reposition some notable characteristics. Over the past decade, the time-limited format of physical art fairs has proven to be a successful model for far-flung galleries to do business with an increasingly international collector base. New work is commissioned, exhibition strategies are crafted months in advance and a frenzied competitive melee ensues to beckon the sale. VIP – an acronym for “Viewing in Private” – draws on the evaporative moment of this model, but streams the fair online to the comfort of one’s choosing. It is a post-bubble, cost-efficient – even green – alternative to a familiar routine.
Spread across three online exhibition halls (VIP Premier, for established galleries; VIP Focus, for galleries highlighting a single artist’s work; and VIP Emerging for younger galleries showing art that is less than two years old), galleries present between eight to 20 works, and may hold up to 80 in private reserve to share in discretion with interested collectors. The status of these galleries equals that of the leading bricks-and-mortar fairs, an absolute necessity if collectors are to buy from a remove, and one key advantage of the online format is that galleries can present work that they never would have dreamed of showing in the limited space of a physical booth – outdoor sculpture or oversize installations, for instance, that are costly to ship and nearly impossible to install at an ordinary fair.
Access, moreover, is completely free: anybody can register at no charge to see the dealers’ booths and has the ability to select favorites and share their own tours of the Fair with friends. VIP Passholders, meanwhile, can see prices, may interact with dealers and also have access to a VIP Lounge with additional exclusive content (films of artist studios and private collections, newsfeeds and curator-led tours of the Fair).
With the biggest names in the business taking part, multimillion dollar sales are a distinct possibility. But the Fair is not an e-commerce platform (no shopping carts or Pay Pal checkouts): artworks may well be presented for sale, however actual transactions are settled off of it. In this sense the VIP Art Fair, at its core, a testament to the power of aggregation and the ever valuable role of access, relationship-building and quality in a far flung, fast-paced world.
Tomorrow’s art market is an exciting and evolving space. For a snapshot of how it is shaping up, visit http://vipartfair.com.
–by Noah Horowitz, Director of the VIP Art Fair and author of the forthcoming book, ART OF THE DEAL:Contemporary Art in a Global Financial Market (pub date February 9, 2011)
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