We saw this article a couple of days ago in The Wall Street Journal Asia, the Social Media Week Hong Kong ‘Official Business Newspaper’, that looks at an issue that has been puzzling the art world, to see if top-tier art can successfully be sold online.

High-end collectors have traditionally been weary of spending significant money on art they have not seen in person, and a number of online-art welling ventures fizzled early on. As more and more powerful art buyers emerge from Asia, Russia, and the Middle East, the need to quickly reach collectors around the globe has never been greater. Dealers are looking for ways to reach a younger generation that are beginning to explore the art market without alienating their best clients.

Some of the biggest names in the worlds of art and technology are betting that collectors will spend millions on paintings and sculptures that they have only seen online. A whose who of top galleries are taking part in the VIP Art Fair, an online-only event where potential buys can shop for works by contemporary and modern artists including Jackson Pollock, Louise Bourgeois, Francis Bacon and Damien Hirst.

Nearly 140 galleries from more than 30 countries, including blue-chip dealers like David Zwirner, Larry Gagosian and the Pace Gallery have paid to host virtual booths.

This is particularly relevant to Hong Kong, as famous international art galleries, Gagosian Gallery and Belgravia Gallery have both opened branches in Hong Kong, so it will be interesting to see how these art pieces are being sold off.

What are you thoughts, would you buy artwork online?

If you’re into art, make sure you check out the Social Media Week Hong Kong events Artists’ Intellectual Property In The Online Space and Gaming and Living in an Alternate Reality