A graph from the Hiscox report indicating the trajectory of the online art market.

Enjoy unlimited access: just £1 for 12 weeks

Subscribe now

Although the overall growth rate is lower than the 2017 figure of 12%, Hiscox, an insurance firm well known in the art market, is maintaining its forecast for future growth of 15% a year.

“Based on this growth trajectory, we could expect the online art market to be worth $9.32 billion by 2024,” the firm states.

The report contains overall market data for the worldwide online art business as well as surveys of art market buyers, dealers, galleries and online art market platforms.