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Things to know before selling your “Artwork”

- By Dwaipayan, 31 August 2020 | 5 MIN READ


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Time to face the facts. If you’re a working artist and plan to move as an entrepreneur, what are the takeaways? Before quitting your day job and jump to full-time art practice, you need to note down a few tips to help guide you.

For a minute let’s pretend you make flashlights instead of art. You sell them to “big box” stores.

So, it goes like this: Have a good meeting with the Target buyers, who “say yes” to pay you money for x number of flashlights. You deposit a large sum into your business account and fund the production of many future flashlights. You put your products on public display on their shelves for months at a time, in many locations. They double the price they paid you—turning your wholesale into retail.

 

Now, to your art stuff!

A dealer is stricken with the beauty and power of your work. She is awestruck and can’t take her eyes off of it and isn’t even listening to your backstory. She conveys her interest in the next step by offering to buy your “masterpiece”

The transaction does not involve the exchange of dollars for your fabulous work. But it’s the beginning of something that could be big.

Most galleries take pieces only on consignment and provide an important avenue to revenue. Though at first, it may seem to be a “walk-in” business, in the background strategies are taking shape, in the span of time, all fall in including collectors, interior designers, art consultants, architects, and curators. They are too in the business of nurturing and ongoing relationships.

Here are some crucial steps to getting started:

Keep things professional!

Ensure that you leave an inventory sheet with an image of each piece, give a title to your work for identification, include year, materials, and dimensions. Produce three copies of this document, so you can leave one at the gallery, keep one for your records, and the third copy signed by the dealer and send it back to you.

This is one legal proof that someone has your work and is responsible for it. Making professional inventory sheets in just seconds is through Artwork Archive, an online tool for artists to track and manage their artwork.

Include consignment terms, if possible

Offer any discounts the gallery may want to extend to their clients, as a standard practice gallery offers a 10% “collector’s discount,” which you should expect to share 50/50 with the gallery. Today galleries are enticing their clients with huge discounts, so don’t get shocked! make sure you agree on additional discounts. “Congratulations — You have sold three of your pieces!

Back to the “Target” model.

Remember you as a flashlight vendor? you’d have your goods on shelves year-round. A gallery contrasts a retail store, only puts your creations on view for about four weeks out of every 24 months. They retain long-standing artists to serve with solo wall space, and many have more than 20 artists in this rotation.

If we consider this equation, you’d need 24 galleries to have your work displayed every day of the year. Make sure you assemble a living by working with galleries, consultants, architects, designers, and collectors.

 “Art” as a business model

The more your artwork on display, the more people will see it and be likely to buy it. This is exactly about the more avenues you have for revenue.

As a beginner, get on the mailing lists of all your local museums and art galleries. You will receive announcements to openings, some of which are only open to exclusive museum members. Plan it out and make it happen

Congratulations! You did it

Celebrate and enjoy the free wine and meet as many people you want to. The art business, like other businesses, is built on exposure, contacts, and relationships.

 

By showcasing art and artists allow art lovers and collectors alike to discover new artistic works, to embrace new cultures, and to be encouraged by the works of talented artists that they never would have come across Artwork displayed in art galleries.

 

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