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How to Make Money Selling Art?

You have certain talents but you don’t know how to make money selling your art? You are sure to find all needed recommendations in the article below.

Where and how to make money selling art are two questions asked by most authors, painters, composers, musicians and other creative personalities.

Making money on selling art is quite possible, but you must offer something unique and not too expensive, which nobody could find anywhere else.

There is no only and right way, which is suitable for everybody. So, the decision how to do best is determined by the circumstances of your own life, your advantages, aims and purposes, resources and experience.

However, what should do those, who have no talent but still want to work in this area? In such case a person can act differently – find a man, who is good at things we call art, invest money in him and learn how to make money receiving dividend in the future.

Ways of making money selling art without any relations to it

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1. Professional funds of art investing have become popular lately.

They work according to the principle of the private investing funds. Some of them try to buy pieces of art that are put on a display in museums in order to increase their value. Then they sell these masterpieces 5 – 8 years later.

What are the advantages of such way? Relatively small entrance fee consisting in a piece of art. After it, you may not worry about such trifles as the insurance of your painting or sculpture.

However, not all funds are run professionally and before cooperating with them, you should better check them thoroughly.

Interesting: How to Make Money in the Music Industry?

2. Another way of making money by selling art is to join the private investing partnership, or even create your own partnership.

Such partnerships consist of the groups of people, who unite their money to buy a masterpiece and rely on the pieces of advice from an experienced expert.

In comparison to the art investment funds the partnerships are smaller in size and less official.

In such organizations the investors have more rights in making decisions, unlike in the funds. Nevertheless, a person must know people, who enter such partnerships, well and be confident there is a good expert in the group, who really has a fine taste in art. Otherwise, you may waste money on a picture, which has not much value.

3. You may as well use the collection you already have to buy more valuable masterpieces by pledging things you have.

A loan secured on a painting or a sculpture is offered by plenty of banks. If you are lucky, you’ll be able to make a good buy using the money from a loan.

Mind that any loan suggests a certain degree of risk, like high rate of interest, which may start from 4% and go up to 20%.

4. One more money-making scheme on selling art is learning how to make an irrevocable price on an auction.

Here the participant of the bidding claims to be ready to pay for a lot a definite sum of money, usually smaller than the declared estimate.

If someone offers a bigger sum of money at the auction, the chances of the person, who made an irrevocable bid, are lowered and can even tail. Although, if nobody wants the thing you need, you can become its owner and save money at the same time.

Read also: How to Make Money Selling Photos?

Who will buy art?

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The existing of art market depends on the existing of the middle class.

At first, the middle class invests money in real estate, cars, and papers. After that, they start to buy art. The price of art doesn’t grow on the cost prices and the pricing policy is one of the biggest hardships that the members of the art market face.

It’s important the buyer doesn’t stay just an average customer, but becomes a collector.

For an amateur the only way to orientate in modern art and make money selling it is to know the names of the painters, who are sure to stay in the history of art or, at least, have great chances.

Until that, much of the financial recourses are spread on the creative people, who name themselves artists. At that the value (as it was mentioned before) has the creative work of forty-fifty of them. It’s the number of names of great artists each era has left in the history of art.

What is required to make money by selling art?

  • The first context is the history of art.

    An artist or another art-representative must keep in mind that millions of masterpieces had been created before him, and it should be a pretty good reason why his work must be recognized.

    He must aim to become a part of today’s world context and know how to reach the aim. Nowadays, the art world sets a system or coordinates, where everyone is searching how to fit it this place.

  • The second thing says a master must be in context here and now.

    Modern artistic environment is a powerful communicative process and in order to take part in it one must know modern languages.

    That’s why, if you want to make money by selling art, it’s significant your work was up-to-date, and clearly fixed time, when it was created.

  • Ant the third one – the master mustn’t repeat himself: he needs to maintain the limits of his own art.

    On the one hand, he must be recognizable, and on the other – he must develop himself, build his art as a certain strategy.

    It goes without saying, this doesn’t withdraw talent as well as desire and ability to work hard. Youth has a special meaning here: nowadays it’s extremely difficult to make a career of an artist and he can go through all the way only if he is young enough.

  • One more important key to success in making money by selling art is the proximity of an artist to the cultural centers.

    In other words, he must live in a big city. Modern art is focused, first of all, on the megalopolis’s tenants, on a definite culture environment, which exists inside the megalopolises.

    Regardless of the digital age and the Internet which can serve not only as a means of artist’s self-expression, but also as a way of delivering his creations to a wider audience.

    In a measure thanks to the Internet art is becoming more and more available. The Internet is a way to shake off the provinciality and make it the way that even in the back of beyond an artist is aware of everything, what’s going on.

    The Internet influences the artist deeply. How? It gives them another way of thinking. Actually, new technologies have always helped to develop art, so the Internet shows the direction to the future of the art.

Read also: How to Make Money Selling Beats?

Marketing and pricing in selling art

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Let’s not forget that in a price of your masterpiece you should count the expanses on the marketing, equipment (like a professional photo camera) and materials.

Famous artists pay for TV-shows, ambitious ones buy the exhibition space in the fashionable galleries, and the lazy are making smart remarks on the Internet. You should also add to the price some possible discounts to the agents.

Mind, if you are lucky and an art gallery, art agent or collectors pay attention to you, you’ll have to give or cut the price on 40-50% from the declared price of the painting. Why? These people or organizations work only to get income.

One interesting question – if you say your painting costs $1 000, and your neighbor is selling the same picture for $5 000 – who would the agency go to? Right, to the neighbor. Do you imagine how difficult is it to sell 5 paintings for $1 000 each, than one painting worth $5 000?

Another question – if you let yourself at least once to make a sale and sell the pictures twice cheaper. Will the gallery turn to you ever again? You can suppose a young artist like you will probably sell no pictures for 10-20 years of your life.

There is a chance for the galleries, auction houses, agents and collectors. How are they doing it? They have been long on the market and everybody knows them. The only thing you can offer is the predictable prices for your work.

Nevertheless, there are people, who sell their paintings very cheap and get $250 — $800 and are happy for every earned penny. Other people prefer to keep them to themselves and admire. The rest just compare themselves to the famous artists and put exorbitant prices on their pictures.

This way you know how to make money selling art.

Now, you realize that even a person, who doesn’t know much about art can do it. If you are still considering the possibility, pay attention to a unique possibility to do the things you like and make good money at the same moment.

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