Has the Art Market Become Truly Global? Evidence from China and India

New ICTs are credited as being one of the major driving forces behind the globalization of the art world. They facilitate the creation and expansion of international networks and make it easier for artists, museums, galleries, collectors and other art world actors to connect and interact on a global level. Museums bring their collection to the public online and develop apps to enhance the museum experience. Online auction platforms and gallery websites are enabling a growing virtual marketplace that is not dependent on location and tangibility. However, despite the ubiquitous nature of these new technologies, real live events featuring actual artworks and personal contact between artists, distributors and consumers are likely to remain one of the pillars of the art world. Initiatives such as virtual art fairs have notoriously failed to gain traction, and the volume of e-commerce is still dwarfed by sales at brick and mortar galleries and live auctions. New ICTs may support interconnectivity and pave the way to a borderless art world, but they have not, so far, been able to substitute the physical art event. The art community has remained staunchly wary of the Internet, fearing that it may lead to a loss of aura for art and a market devoid of personal relationships (Velthuis 2014).