Global Online Collectible Sale Market: Overview
Online Collectible Sale continue to attract a marked chunk of discretionary spending in several developing and developed economies. The retail business has carved out a space among niche consumers with the industry model still largely in the developmental phase. The antiques sales thrives on the rapid inroad made by the m-commerce in the retail, combined with the rising ubiquity of smartphones and mobile devices. The market is still unhindered by recession in the economy in various parts of the world, inflamed by search for specific antiques and collectibles on prominent e-commerce sites. The online sales of various antiques and collectibles, such as books, coins, jewelry, figurines and memorabilia is anticipated to witness soaring popularity over the assessment period, notably in developed regions.
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Online Collectible Sale Market: Key Trends
The sustained growth of Online Collectible Sale industry rides on the popularity of their online purchase among populations in a number of emerging and developed regions. A buoyant consumer confidence in a number of emerging nations and rapid strides made by the e-commerce are prominent trends expected to bolster the share of disposable incomes of people for antiques and collectibles in general. The burgeoning adoption of smartphones and other mobile devices has significantly facilitated the purchase of antiques and collectibles, thereby boosting the market. The development of more secure and hassle-free payment methods is a notable trend boosting the market. The low-overhead cost being a key characteristic of online sales of antiques and collectibles is substantially contributing to the growth of the market.
Online Collectible Sale Market: Market Potential
The global Online Collectible Sale industry is headed for exciting times ahead, with the advent of innovative services and favorable fee structure. The democratizing of online art space is one such exciting developments. A new online portal, ArtAndCollect, launched in 2017, is a web-based art service that aims to provide a platform for connecting collectors hoping to sell their work. The platform is funded by a subscription-based service, wherein collectors can choose a fee structure they dim fit, according to the volume of their work to be auctioned via the platform.
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According to the founder, notably, the platform is stripped of any intermediaries or bereft of any commission fees and allows for direct negotiation, which will ultimately lead to the democratization of the market space. The founder with the unveiling of the platform hopes to capitalize on lucrative avenues in the Online Collectible Sale industry. His second business, ArtAndOnly is a curated online gallery, which was unveiled in 2016 for boosting the sales of contemporary art works. The founder also studied on the collecting habits of U.K. buyers. The staggering rise of online network of consignments in recent years has also opened up a host of exciting possibilities for buyers looking for a paraphernalia of items.
Online Collectible Sale Market: Regional Outlook
Geographically, North America and Europe are prominent markets for online sales of antiques and collectibles. These regional markets are driven largely by recent advancements in payment technologies, innovation in sales model, and the vast popularity of memorabilia among populations in several developed nations. The vast strides made by the e-commerce sector in emerging economies of Asia Pacific is a key factor expected to create numerous promising prospects in this region.
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Online Collectible Sale Market: Competitive Analysis
The market is expected to witness low-to-moderate intensity of competition over the forecast period. Several players are focusing on tapping opportunities from the mushrooming of online auction web sites operated on consignment mode, in a move to gain a better foothold in the market. Key players operating in the global Online Collectible Sale industry include Heritage Auctions Inc., Global Auctions Company, Nevon Solutions Pvt. Ltd, and Bertoia Auctions.