Will Amazon’s Virtual Art Venture Flop?
Amazon.com (NASDAQ:AMZN) executives have been actively approaching art dealers to seek their interest in providing product for the Internet retail giant’s virtual art gallery, speculated for launch later this year.
According to a number of dealers, who have been approached by the website’s business development group, the online retailer aims to offer more than 1000 art objects from approximately 125 galleries. Amazon executives told one dealer that 109 galleries had already agreed to jump on board.
However, a representative for Amazon declined to comment on its plans, saying, “We have not made any announcements about art.” The site will allegedly resemble Amazon Wine, which features wine from 450 vineyards and winemakers and, rather than charge galleries fees, it will deduct a commission ranging from 5 to 15 percent from all sales made on the platform.
Some of the dealers Amazon has approached include Eleven Rivington, On Stellar Rays, Vogt Gallery, and Zach Feuer, but some of them are doubtful that Amazon’s artistic venture will be a success.