The coronavirus crisis has hit the art world hard. Crowded art fairs, gallery openings, and vernissages around the world have shut down due to quarantine restrictions. Social distancing is set to stay for a long time and will likely change the way we buy and enjoy art. Dealers will have to find new ways to create marketing and buzz around artists.

Enter London-based online art marketplace Artfinder. Their platform directly connects artists with art buyers. This enables buyers to find unique, affordable art that suits their tastes and helps artists make a living.

As of August 2019, Artfinder is the art world’s first B Corp. This designation certifies that a corporation balances profit and purpose by satisfying the highest standards of verified social and environmental performance, public transparency, and legal accountability.

A New Era for the Art World

This August, they had their first-ever crowdfunding round, initiated after the platform experienced a period of exponential growth. The organization raised £834,000 from 1,320 investors. In the second quarter of 2020, Artfinder recorded the best sales quarter in its history.

This sale increase can be partly explained by the ongoing pandemic. Robert Read, Head of Art at Hiscox, predicts online sales could account for as much as half of the art market within six years. This change has been accelerated by the pandemic. He told London Loves Business, “Social distancing is here to stay for long enough that it will change how we buy art as well as many other things.” The art market has been adapting quickly and shifting focus online. Artfinder CEO Michal Szczesny told London Loves Business:

“It’s been a truly remarkable quarter for Artfinder and I think for the art world as a whole. The art world has been slow to embrace online, but for many these last few months it has been a matter of adapting to survive.”

Supporting Independent Artists

Szczesny prepared for a drop in sales as the pandemic went on, and did not expect to see a more than 100% increase in orders, which directly benefits both artists and customers. Artists who sell on Artfinder deal directly with their clients and interference from any third party is limited. This model allows independent artists to find new buyers and make a living from their art, even when they do not have the means or resources to sell in more traditional venues.

The money raised in the crowdfunding round will be used to deliver faster artist payments, improve the seller and buyer experience, improve customer service, scale up customer recruitment to bring art to a wider audience of collectors and help more artists, especially independent artists, sell.