Art collectors have seemingly made an effortless transition to the new digital "normal", says a director at Strauss & Co. Art collectors have seemingly made an effortless transition to the digital "new normal" brought about by the coronavirus pandemic. Earlier this month Christie's debuted its live-streamed auction, which led to total art sales worth $451.8 million - indicating the art market can still, apparently, thrive despite the pandemic. According to Susie Goodman, executive director of Strauss & Co, art collectors are using the mandatory slowdown to do online research and to engage virtually. "The current crisis is accompanied by low interest rates which could assist the art market in the shorter term but the crisis comes after an extended period - two decades - of price rises for art and, Covid-19 aside, the art market was looking for an excuse to reassess prices, especially for the contemporary market," says Kettle.

Source: News 24 July 25, 2020 16:52 UTC