Methods of Buying Art — Part 2
The desire to build an art collection, or for that matter just buying one or two pieces takes a general understanding of how all the pieces fit. Understanding the artist/galleries role in this puzzle is a good place to start with one’s Art literacy.
Galleries are opened to SELL ART. Art as just a commodity is hard to sell because the demand is mainly coming from ones “disposable income.” Gallery sales are random and take salesmanship. Galleries do give Artists a label of acceptance to the public: and generally the stable of artist have a common thread of similar identity the gallery projects. There are galleries that tout a higher profile, but realistically their power over the buying public is still limited. The gallery’s main role in the scope of the buying and selling to the public is what can be called the “when issued market”, (in the investment world) or the presentation of the bright lights, and champagne popping, introduction of an artist opening. These events satisfy not only our social need for entertainment but allow, and enhance the aesthetic feelings we all seek. This piece of the puzzle is of utmost importance, and gallery owners should be paid their 50% of sales because of all the expense and work that goes into it. However, after the “big show” and maybe 2 or 3 weeks of exposure for the artist, he or she for the most part is set sail to survive on their own. As well as the new purchaser of these art pieces. Not to say that galleries don’t try and maximize their artist success (as long as it does not take any money) but there are many other artists waiting for their turn…particularly the blue chip artist that really pay most of the galleries expense.
Unlike the real investment world when a brokerage house brings an equity or stock issue to the market, their responsibility just begins, because they are obligated to not only the issuer [or artist] but the buyers and sellers (of the art) who demand and need an orderly after-market. Galleries are there to sell their Art and are under-capitalized to provide this function. This role and expectation of the gallery’s responsibility has been supplemented by auctions and art consultants, but hardly in an orderly fashion. FAC (Full Art Catalog’s) role is to provide this need.. and in so doing turning an art purchase to be more than just a commodity to hang, but an alternative ASSET to benefit from, as well to enjoy. Galleries need to sell ART.. they need DEMAND, and if Art was purchased with more than just one’s “disposable income” and viewed as an investment with proper liquidity, the galleries would have more access to funds leading to more business, and the artist could really enjoy their coming to market party.
“EVERY ARTIST WAS FIRST AN AMATEUR”
RALPH WALDO EMERSON…
FAC- SO ARE COLLECTORS
***Post originally appeared on Full Art Catalog 3/4/2017