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Selling Artwork: Multi Currency Guidance feature

Multi Currency Guidance

ArtMarketDirect.com offers a simple Multi Currency Guidance feature using currency tabs along the right hand side of the screen.

Default Currency

The exchange rates update against the default currency of GBP Sterling every 30 minutes e.g. the euro amount may well change every thirty minutes across a day as guidance to browsers.

The disparity between Google Finance and PayPal.

The exchange rates applied use Google Finance.  The ultimate price paid will be in pounds and PayPal exchange rates at the moment of purchase will apply if your own PayPal account is set by default to a different currency.

This means at the moment the purchase is made in the default currency of GBP Sterling.  If your PayPal account is set by default to a different currency e.g. Euros then PayPal Exchange rates apply at the moment of the transaction and you may get more or less than the Euro amount displayed on the site.

ArtMarketDirect.com cannot guarantee that the converted rates of currencies which are not GBP are the same as displayed on the website and the transaction rate applied in real-time by PayPal.

Guide

The Multi Currency feature is only a ‘guide price’ in the currency of choice.  Nothing more.

Listing artwork

To ensure that you get the value of the artwork you want, ALWAYS list the product in GBP.  If you try to list the product in another currency, the system will use that amount you enter at GBP Sterling in any event.    This means that if a piece of artwork is listed by you as you upload at €100, the system will list this as £100.  The euro amount will fluctuate as exchange rates change.

Currency tabs

Based on insights relating to the traffic to the site, we have set the currency tabs to include:
USD – US Dollar
Euro – Euro
HKD – Hong Kong Dollar
CNY – Chinese Yuan
INR – Indian Rupee

Buying artwork

If a collector is browsing a gallery with a Multi Currency tab selected other than GBP, and then they buy a piece of artwork, it will be added to their cart in the chosen currency.  If they proceed to checkout, the transaction will be undertaken by PayPal in that currency.  This means if an artwork is listed at £100 but is browsed in Euros and then bought by a collector whose PayPal account is based in GBP, PayPal will apply their exchange rate.

Want us to display a different currency?

If there is a specific currency that you think we should include which is not listed, we are happy to consider adding it, but will need to measure the value against traffic reports.  In all cases we will ensure that there are never more than (10) ten currency tabs displayed.

Bitcoin

Right now, Bitcoin is not supported.  In the future as a global currency, Bitcoin will become the 2nd guaranteed tab together with our default GBP Sterling.

Questions and feedback

If you have any questions or need information, advise or guidance on the Multi Currency Guidance feature, please email us at admin@artmarketdirect.com
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