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Education On Acquiring Art

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In Design, Uncategorized Posted January 25, 2021

The Gallery Game 71520

• The gallery traditionally is the gatekeeper to obtaining work from an artist. This is what they call the Primary Market. 
• Galleries usually take up to 50% on the work that is sold to a collector. Please keep in mind prices are hard to come by as this is an unregulated market. 
• Artis that are represented by a gallery usually obtain upfront money from a gallery to produce a certain amount of work. 
  • In these scenarios the gallery essentially owns the rights to the work
  • Also, an artist sometimes is forbidden to sell work to anyone else while in this contract. 
• Galleries will initially sell to preferred collectors. A list of people who have purchased from them in the past. 
  • The gallery’s goal is to create a supply and demand for an artist’s work. Which can be sparked by insinuating there is a waiting list. 
  • For collectors who are in the know and already have these pieces. They will generally turn around and sell the work at auction after 5 years. An auction is what they call the secondary art market
• If an artist potentially sells directly to a collector outside of the gallery they can potentially be black balled from the art industry as a whole.
  • The goal is to keep the artist dependent on the gallery model. Effectively because the gallery business model depends on the artist labor. 
  • A lot of art galleries are slow to play the artist which causes a lot of artists to earn the phrase of starving artists. 
  • Generally when an artist changes galleries because they are not selling generally with the gallery or they are not given a stipend by the gallery. 
• Artist Trajectory
  • The art industry looks at artists and there is a specific path they must take to be successful. 
    • What university did they attend
    • Where did they get their Master
    • What new up and coming galleries are supporting these artists
    • How did the move up the gallery ranks and to which galleries 
    • How much they sell in the secondary market 
• How to you purchase options:
  • You can obtain works from a gallery
  • Auction House
  • The internet
  • Artist Studio Visits 
  • Trading works