by Alan Bamberger, ArtBusiness.com – The purpose of following list is to help increase the overall understanding of collectors (and anyone who buys art) about how the art world works, how art is viewed in terms of value, how to approach and interact with galleries and others who sell art, how to optimize transactions involving art, and most importantly, to clarify that there are many reasons to own original art other than simply financial ones. The better you comprehend the art world’s ways, the more rewarding your collecting experience will be.
Misconception: Art gallery owners live lives of unlimited fun and partying, and hardly ever work.
Reality: People are often attracted to the art world based on fantasies like these, experiencing only the pristine calm and refinement of gallery settings or festive art parties and show openings when in fact, selling art is a business like any other, and in many ways, a more difficult business than most. Why? Because selling a commodity that serves no practical purpose, has no quantifiable tangible value, and that no one really needs in order to survive is challenging to say the least. Owning art has numerous benefits, of course, but they’re not necessarily obvious or easy to explain.
Riverbank
acrylic/canvas
48×48″
$5900