How Auction Houses Can Benefit from Digital Transformation

Published: 12th November 2018

No. Pages: 22

Report Type: Industry Report

Price: $ 99.00 Buy Now

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Report content

AUCTION HOUSES GOING DIGITAL

CASE STUDY: THE IMPACT OF DIGITAL TRANSFORMATION ON BOOK SELLERS

STRATEGIES FOR PROFITING FROM DIGITAL TRANSFORMATION; BOOKSELLER LESSONS FOR THE ART MARKET

NEW TECHNOLOGIES EMERGING ONTO THE AUCTION BLOCK

PRACTICAL TECHNOLOGY SOLUTIONS FOR COMMON AUCTION HOUSE ISSUES

LAST WORD: HOW TO MEET THE DIGITAL TRANSFORMATION CHALLENGE

OUR DIGITAL TRANSFORMATION SERVICE

With thousands of auction houses around the world, ArtMarketGuru has chosen six categories in which to organize the level of digital transformation in which establishments may find themselves.

Auction houses that do not offer any online catalogue – paper only
Online catalogues – listings or pdf
Online bidding
Live online bidding (to support traditional auctions)
Online bidding via third party plugins or websites
Online sales separate from brick-and-mortar transactions

The report offers :

conjecture on just what changes brick-and-mortar auction houses can expect in the near- and medium-term.
concrete suggestions on how traditional auction houses can adapt to the market shifts and ride the Digital Transformation wave to greater stability and increased revenues.

Description

The report How Auction Houses Can Benefit from Digital Transformation looks at how auction houses are currently applying technology to grow their businesses. The analysis examines the new technologies already making inroads into the A&C marketplace and makes recommendations on how auction houses of every size and scope can adapt to and profit from the inevitable disruption already underway.

The report focuses on established brick-and-mortar auction houses at global, regional, country, and city levels. The analysis considers six levels of technology integration that the operations of auction houses may be experiencing singly or in combination.

The analysis draws heavily on parallels of disruption in the bookseller industry over the past 20 years. Bookstores suffered massive changes from “The Amazon Effect”, which brought a dramatic Digital Transformation to the industry.

Within the scope of this discussion, Digital Transformation means the transfer of sales and support services from face-to-face, hand-to-hand, brick-and-mortar places of commerce to internet-based e-commerce platforms. In the case of books, the content has remained both physical and, in many instances, has also been digitized.