The internet offers the visual art market great potential for growth and change. Currently, online sales make up just 1.6% of total global sales, but this is set to change. In the past couple of years millions of dollars have been invested in online sales platforms. In 2013 Artspace received $8.5m (£5.2m) of investment, Paddle8 received $6m (£3.6m) of investment – backers included Damien Hirst and Jay Jopling – and Amazon Art was launched.
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