Art Collecting: How To Get Started In The Trade Of Art

May 15
15:56

2024

Nicholas Tan

Nicholas Tan

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Selling art is a challenging endeavor. Even seasoned art collectors often hesitate to purchase from lesser-known artists. Convincing non-collectors to buy art can be even more daunting. However, once you make that initial sale, subsequent transactions become significantly easier.

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Overcoming Initial Hurdles in Art Sales

Is Your Art Unappealing?

As an artist,Art Collecting: How To Get Started In The Trade Of Art Articles it's crucial not to doubt your creativity and skill if your pieces aren't selling. Several factors can influence why art enthusiasts may not frequently purchase art. These factors include their knowledge of art, self-confidence, identity crisis regarding their taste, and concerns about others' opinions on their purchases.

Many individuals in the art world, whether novices or veterans, worry about what others will think of their acquisitions. Even if someone likes your artwork, they might be unsure about its quality, worth, or your reputation as an artist.

Building Trust with Potential Buyers

Your role as an artist is to make admirers of your art feel secure and comfortable with you as both an artist and a businessperson. By doing this, you alleviate their fears and increase the likelihood of them purchasing your art.

Strategies to Convert Admirers into Buyers

Reassure Them: It's Okay to Buy

Before diving into sales pitches, show potential buyers that purchasing your artwork is a good decision. Share stories about other collectors who have bought your pieces, the type of people they are, and how long you've been working with them. This helps dispel the notion that you're just trying to make a quick sale.

If you haven't had any collectors yet, be honest about it. Let your prospective buyer know that you're open to selling your art to them, even if it's your first time.

Explain Your Sales Process

Discuss your method of selling art and the specific circumstances under which people buy it. Share anecdotes about how other collectors made their first purchases from you. Talk about your most recent sale, how you achieved it, and the price it fetched.

Pricing and Popularity

Explain how you price your works and which types of your art are favorites among collectors. Mention how many pieces you've sold in total.

Highlight Your Exposure

Discuss the exposure you've had in the industry, such as museum or institution exhibits, gallery shows, trade fairs, and any awards or honors you've received.

Interesting Stats About Art Collecting

  • Global Art Market Size: The global art market was valued at approximately $64.1 billion in 2019 (Statista).
  • Online Art Sales: Online art sales reached $4.82 billion in 2019, accounting for 9% of the global art market (Art Basel).
  • Emerging Artists: Emerging artists' works can appreciate significantly. For instance, Jean-Michel Basquiat's painting "Untitled" sold for $110.5 million in 2017, a record for an American artist (The New York Times).

Conclusion

Selling art is undoubtedly challenging, but with the right approach, you can turn admirers into buyers. By building trust, explaining your sales process, and highlighting your exposure, you can make potential buyers feel more comfortable and confident in purchasing your art. Remember, the first sale is the hardest, but it paves the way for future success.

This article provides a comprehensive guide to getting started in the art trade, offering practical tips and interesting statistics to help artists navigate the complexities of selling their work.