Sotheby’s Declares a Successful Year for Digital Art
According to Michael Bouhanna, Vice President and Head of Digital Art at Sotheby’s, 2023 has been an exciting year for digital art at the prestigious art brokerage. Despite mixed reviews for non-fungible tokens (NFTs), Bouhanna remains optimistic about the future of digital art.
Record-Breaking Sale for Digital Artwork
In a post on X (formerly Twitter), Bouhanna highlighted Sotheby’s accomplishments in the digital art arena. The highest sale in 2023 reached over $6 million, setting a new all-time high price for a digital artwork. The artwork, titled “Ringers #879 (The Goose)” by Dmitri Cherniak, sold for $6.2 million.
Additionally, Sotheby’s conducted over 25 auctions focused on digital art or including it in contemporary art sales. Their very first dedicated live auction attracted more than 300 attendees and achieved a total of $12 million in sales.
Exploring Digital Art for Nearly Two Years
Sotheby’s has been actively exploring the world of digital art for almost two years. In October 2023, they launched Sotheby’s Metaverse, offering a curated NFT collection to digital collectors. This move was crucial during the Covid-19 pandemic when physical locations had to close their doors, and NFTs provided an alternative way to showcase and sell artwork.
NFTs have not only sustained art auctioneers but have also brought art to new audiences that traditional channels couldn’t reach.
Hot Take: Sotheby’s Leading the Way in Digital Art Market
Sotheby’s impressive achievements in the digital art market demonstrate their commitment to embracing new technologies and expanding their offerings. By setting record-breaking sales and exploring NFTs, Sotheby’s is leading the way in the digital art world. As digital art continues to gain popularity, Sotheby’s remains at the forefront of this evolving industry.
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