Hello everyone! Happy Sunday!
As an arts administration student, I am consistently looking for new and upcoming ideas/practices in the arts community. Last week, Scott Indrisek with Artsy published The Dealer Using Instagram as an Auction House. The article discovers See You Next Thursday (SYNT), an auction house that is trying to help create a more “level playing field” in terms of art collecting. Founder Calli Moore claims that it’s the number one social media platforms for the art community, and it makes the purchasing of art as simple as “commenting on a photo.”
SYNT teases photos of upcoming artworks up for bid, and then every Thursday, the artwork becomes live for bidding. Bidders can comment on the photo for a week, and the auction closes before the next begins.
The idea behind the program is to cut out intimidation for both the artist and the buyer. Many buyers could be deterred from attending an auction due to the intimidation of bidding wars or social prejudice, and many artists get intimidated when it comes to selling their artwork on their own. Although I’d barely call myself an artist, when I do freelance photography on the side, the hardest part is trying to put a price on your work without feeling like your scamming yourself or your customer.
Every artwork begins bidding at $85 and the highest sold so far went for $1700. 30% of the profit is commissioned by SYNT and the bidder pays for shipping. Artists that have currently sold artwork through the platform have reported that it is a much more intimate feeling that when art is sold in the traditional auction house style. Some of the winning bidders agree that it is a more intimate, personal, and democratic style of collecting than traditional standards.
The company is already looking at expanding, as Moore reported that she intends on opening a gallery space in New York City where the works for auction will be displayed, but the auction will still take place on Instagram. The company is also partnering with Artsy’s online auctioning.
Thanks as always for the read, and feel free to leave comments below!
I own none of the rights to the featured image. The featured image was taken by Hiroko Masuike for The New York Times.