When someone say Instagram, we all know that is an online mobile photo-sharing site which people use to take pictures and share them either publicly or privately , and that pictures are usually from everyday life, such as babies, lunch, cats, new shoes etc. But, in recent time, Instagram is becoming increasingly powerful in the world of art. Such one example is a Jean-Michel Basquiat’s painting of boxing champion Sugar Ray Robinson which was sold via Instagram for a whopping $24 milion.
Christie’s top dealmaker, Brett Gorvy, posted the photo before taking a plane to Hong Kong and when he landed 16 hours later he had three messages from potential buyers who wanted to know if the painting as available. One immediately made an offer for the 1982 canvas showing Robinson as a squat, scowling figure, and two days later the deal was completed for about $24 million – more than triple the $7.3 million the work auctioned in 2007.
“In this marketplace everyone is looking for an edge,” said Gorvy, who has 55,000 followers. “It just shows you the power of social media and the transformation of how people are buying.”
He further explained most of his clients are on Instagram, adding, “That’s where the future is. It’s now, it’s happening.”