Digital-first buying leading to change in auction houses
According to online auction site, Invaluable, 23% of Americans discover artwork on social media channels such as Instagram and Pinterest instead of art museums and galleries , as millennials opt to purchase artwork online instead of attending auction houses. Invaluable's marketing VP,O'Neal Rowe, stated that the survey "shows a lot of opportunity for our business to reach and engage young collectors as we prepare for the next generation of digital-first art buyers." The rise in popularity of social media as a means of art buying has led to a growing number of auction houses offering online auctions. 

It was bound to happen sooner or later. For the first time, social media has nudged museums aside as the primary venue by which American consumers discover works of art.

According to a survey released this week by online auction site Invaluable, nearly 23 percent of Americans find artwork that appeals to them on social media channels such as Instagram or Pinterest. By contrast, 20 percent discover artwork by going to museums and nearly 16 percent by visiting brick-and-mortar galleries.