Sotheby’s Embracing AR & VR Technologies to Expand Reach to Younger Demographic

Published by , February 26, 2018 2:44 pm

(ArchitecturalDigest) Most major auction houses have plans in place to cultivate a younger demographic. Though their strategies vary, most hinge on two core principles: catering specific sales moments to a younger, newer demographic while simultaneously focusing on experiences devised to attract new buyers.
Sotheby’s, in particular, has embraced technology to expand its reach. Sotheby’s director of digital marketing and strategy, Noah Wunsch, says that pushing growth on multiple platforms is yielding a significant uptick in new buyer engagement. Sotheby’s is the only auction house with a TV app (which has over 200,000 downloads), is actively pushing augmented reality (AR) experiences, and hosted a conference on the potential of virtual reality (VR) in its New York building last summer. And this month, Sotheby’s acquired Viyet.com—an online marketplace for decorative arts at lower price points—to grow their base of young collectors.

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