How Much MONEY Do Artists ACTUALLY Make? (Unveiling the Financial Reality)
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- Опубліковано 26 тра 2024
- In an industry marked by both financial discretion, multi-million dollar headlines, and the idea of the “starving artist,” answering the question of how much money visual or contemporary artists make seems next to impossible or is destined to be followed up by an unsatisfying answer. Therefore, in this article, we will be unveiling the financial realities of artistry, discussing the art of earning, combining research data, in-field experience, and various art market studies, settling the debate about colors and cash, brushstrokes and bankrolls, or masterpieces and money.
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👨 About the host Julien Delagrange:
Julien Delagrange is an art historian, contemporary artist, and the founder and director of CAI. Delagrange studied Science of Arts at Ghent University, Belgium, and worked for the Centre for Fine Arts (BOZAR) in Brussels, the Jan Vercruysse Foundation, the Ghent University Library, and has contributed to the international contemporary art scene as an art critic, lecturer, curator, gallery director, consultant, advisor, and as an artist. As an artist, he is represented by Galerie Sabine Bayasli in Paris, France, and Gallery Space60 in Antwerp, Belgium.
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Table of contents:
00:00 - Introduction
00:47 - How Much Money Do Artists Make? Overall Results
01:55 - The Source & Methodology
03:08 - Unveiling the Financial Reality for Artists
08:45 - Facing the Financial Reality for Artists
12:17 - Beating the Odds
13:14 - More Information
13:32 - Outro
As an emerging/mid career (currently working on a $60k piece) in my 4th decade as a professional artist, my best advice is this. Do no feel that a show or an article will be your "big break" to escape the $80-100,000 profit zone. Those things are a dime a doze and have little impact over time. What makes an artist successful is a proper studio (materials, tools, storage, shipping department) and work that is success friendly (ships easily, difficult to damage, can be scaled, not laborious). No amount of exposure can be converted into success unless you have the machine and the widget designed for success. Sorry to be so blunt.
Thanks for confirming this critical part for success. I learned years ago you have to be ready. Not just with good work but a way to store and get it where it needs to go. Unless that is fully understood and realized, opportunities with be lost. Soon after one’s reputation with it.
What do you mean by "can be scaled, not laborious"? And you need financial success/backing for proper studio right?
@eenkjet That’s the day to day nitty gritty stuff that makes it doable and opens the possibility to be lucrative - having good tools and systems in place 🙏
@@gardeniainbloom812 I'll tackle 'laborious' first. This is something I've struggled with. Perhaps is a personality flaw. There are types of work that 'show off' how hard one worked'. Any system that requires a great deal of concentration, time, or effort results in *not being compensated for your talent. Rather you've built in a aspect to the value of your work. Artists are not Makers.
In fact, there's a memeplex within the collector culture which enjoys a high-cost low-labor ratio.
There are two facets to this:
1 - Many collectors show their collection in their homes. A home is a place of low tolerance (moulding, door knobs, cars, timepieces, etc.). Low-labor (high tolerance) art produces a relaxation point within the overall collection of low tolerance items that doesn't have to be "oh so perfect or it's going back!". Thus a low labor artwork feeds an existential or psychological hunger that a high-labor artwork cannot. Jeff Koons is an example of low tolerance studio work.
2 - The memeplex of wealth enjoys the notion of "making a call or trade and netting paid $10k". The collector is not a starving person and does not want to collect the work of a starving artist. These are disparate classes. They have no problem paying for un-laborious art at a high cost. There's possibly perhaps a preference for it because it's a sign of mutual success.
So for all the time interacting with art consulting firms, picking up supplies, delivering, packing, designing/approvals, studio maintenance/cleaning do you want to arbitrarily dedicate your studio to a laborious aesthetic? It's quite literally your and only your choice to do so.
Scalability would mean, if your studio demand heats up... more tables, more bins, larger material orders, specialty tools, etc. can be quickly acquired and demand met. I'd also add that scalability means you can cruise through a year without the overhead killing you if you want to feather down production to work on a new series, system, etc...or if there's economic downturns, even exhaustion.
//financial success/backing for proper studio right?//
You can grow the semi-proper studio over about eight years. A proper studio does cost about $80k to set up.
If I was broke but wanted to set up a goal driven studio (image is possibly more important than authenticity), I'd rent a cheap two bedroom apartment and turn one bedroom into a fake flat. This can be in the most mundane suburban sprawl with zero art culture points. Place plastic then plywood over the carpet, then screw unfinished drywall over the finished drywall. Present your work from a strategically cropped angle. Few serious art dealers going to work with an artist that is repurposing a home, garage, apartment, etc. If this is the case, provide them and the public with an "authentic" studio image.
The best work tables that can be purchased crazy cheap are two piece ping pong tables (they half fold to an easel, fold flat to 30" at 60X54 which is a very sellable size).
I also highly recommend lateral 5 and 6 drawer office cabinets. Commercial leasing and paper based admin' has lead to these $3000 retail cabinets being sold for $50 each and less. I have about 23 of them. They provide a very unified gallery visit ready studio (you can print magnetic labels and your stuff will disappear). If there's no budget/room for a shipping department, make sure whatever you do your work can be rolled and or assembled on site.
At my 40th+ year, I'm finally building a 20'x24' shipping/storage only building. Shipping and storage problems will hinder your workflow.
Sorry for the long winded reply.
@eenkjet Hi there; thank you very much for this excellent piece of advice. Indeed, as we have discussed a couple of times on this channel, your career will not "boom" overnight. The romantic notion of being discovered and all of a sudden you are successful artist is a myth. It happens gradually over a more extended period of time. You're also absolutely right about having "success-friendly" work and a well-functioning studio. If the demand increases, you no to be able to cope with it and increase your production easily and efficiently. Thank you for the valuable contribution and wishing you all the best!
I think it’s worth mentioning that substantial numbers of artists build careers and achieve a measure of financial success outside the ‘object based’ art market. The most successful artist I know personally has achieved success (both financial and reputational) through a career model focussing on commissioned projects developed in collaboration with arts and cultural institutions nationally and internationally. So there is a whole body of practitioners who do not rely on the conventions of the gallery-art fair system but seek alternative pathways to success through partnership working and public/social engagement etc.
Hi Chris, I trust you have been well. Absolutely! There is another career path that is not based on sales but on projects. This can also be a rather competitive route, and networking is also rather important here, but the engagement is a lot greater and goes beyond the visitor numbers of a regular show. Thank you for the valuable contribution, as always!
Eye opening. Clearly MOST Artists from Africa don't even come close to emerging and they are somehwat established. This gap needs to be bridged and i believe Africa has a lot of collectors waiting to be unlocked. The structure is still largely not there.
Hi there, thank you for tuning in again and saying hi in the comments. Yes, there is a small pool of collectors, but a more exciting segment of people who might become collectors. People with an interest in art but who need some guidance to make their first purchase.
@contemporaryartissue Yes. And part of my work is to build some of the structures missing like a proper gallery that can scale across the continent and connect to the global art world. Also more Art Fairs in the continent and as well corporate investment. Your channel has been helping me a lot on this journey.
As always CAI puts the art world in perspective. Truly informative. Helpful? Absolutely!
Thank you, Daniel! Have a great day
Thank you for this insightful video.
I can say I am in the 4 procent this year. I still see myself as an emerging artist and so far I have no High-end gallery representation.
No international art fair exposure and no notable secondary market activity.
Maybe it is also interesting to go deeper in a specific video about entrepreneur artists and creating your own path in the art world jungle.
Although it is frowned upon in the institutional conservative art world.
My believe is that art need to ask questions and push boundaries, this also of the art world and the art institutions who are, sometimes creating a corrupt system and trap artists in to introvert thinking.
Hi Tom, I trust you are doing well. Great suggestion. I have encountered several artist entrepreneurs in the past few years and I believe your career could also be an interesting case study. To be continued! Have a great day
It's similar to me. I'm in 4% and had no gallery experiences at all. I received some bad critic from old conservative artist, so it moved me away from the sceen with galleries. I focus on my social media and it works super well to showcase and sell my art, especially Instagram.
Thank you for your perspective. I'll share with my students too.
So pleased I've found your videos. Fantastically helpful. All the things I could never find out alone.
You're most welcome!
Thank you for information and motivation 🤜🏽⚡️🤛🏽
This is ridiculous. I have been working in the visual arts since the 70's and I barely make $1000 a year! My work is not decorative and I have shown in many decent galleries but find it impossible to get taken on. This is nuts!
As some people in the comments mentioned, they have no gallery representation at all but their social media and own decisions put them in the top 4%. Maybe that’s an option for you too
13:33 How accurate you are with all the analysis of the art world! 👌🏻 ..
I don't know should I be optimistic or not!
And also the way of achieving what you said its not only about good art pffffffft
You should be optimistic and motivated! With the right information, you can make things happen. So go for it! 💪
Many thanks my friend. Also when you share this row data, which makes me cry, you spread some good vibes at the end which helps to move forward. 🎉🎉🎉 trying trying
Absolutely, you should feel motivated and hopeful. Always! Now go for it 💪
Thanks mate, fine information.
The pleasure is all mine, thank you for tuning in
Thank you, Julien! I agree with your points here and in your many other vidoes. I am a successful business person, and over this weekend, I've been watching your videos/ reading your articles. Having compared these to what I've researched elsewhere, I find your logic of holding off on self-promoting/self-marketing to be in line with a solid strategic approach -- and have learned a good deal about what I need to do next. Formulate clearly identifiable body of work, ensure website is both thorough and minimal, avoid vanity galleries, configure good artist bio/ statement, engage organically. The tips on the various types of art consistency that could be considered for strategically creating a cohesive body of work as well as clear information on pricing (based on art size and artist index) have been especially beneficial. I also plan to soon set up a 1:1 Career Advice session, as it is always extremely useful to partner with those who clearly have vast strategic knowledge about the industry. Thank you again!
Dear Loren, thank you for tuning in (and for joining our Patreon 🙏❤️). You're spot on in your assessment. There is a proven process in the art world that has worked over and over again. It is about identifying this process and applying it consistently and accurately. It would be my pleasure to have you for a one-on-one session. The pleasure is all mine, stay in touch!
Super interested in learning about determining your artist stage (between amateur, emerging, and mid-career)!
He/they have a few videos on this already! :)
@@michaelknesevitch1166 ohh thanks!
Hi there, thank you for tuning in! The text after the arrows are characteristics that distinguish these different career stages. Hope this might be helpful. Have a great day!
Im a queer disabled two spirit artist who is emerging with 8 years experience. Im climbing the art gallery world with middle sized galleries and i now have gallery representation in Toronto and during the pandemic i started showing in europe and the united states virtually. I made one large institutional sale. My goal is to be self sufficient and become independent of a disability pension that i'm in receipt of, that is my dream, and im on my way.
That’s really great. Keep going
Go for it! 💪
Nice vid.
Thank you for tuning in!
Please make a video about conceptual art/artist. In financial terms, purchasing, the process of storing the work and then installing it again and about the insurance of the artwork. Wether it's tangible or intangible. Thanks!
Yes, a great suggestion on a very interesting but also very "niche" topic. It is definitely on my to-do list but so far other topics have had greater priority. To be continued!
you should go do interviews with old established artists and ask them how did they get into a gallery and compare it with today
This is something I often do at art fairs and galleries-perhaps we could have someone on the channel as well but not all established artists are willing to share these things publicly. Great suggestion however!
Thank you
The pleasure is all mine!
It is very interesting you mentioned that the gap between big earners and low earners is how the world works. Drivers in UPS earn 90k a year. Have a good one!
You too! Thank you for tuning in 🙌
I think a lot of people would invest more in art if they understood the pricing. There is a difference between simply putting a price on your art vs putting a value on it. I ask artists of all kinds what is the estimated value of their work (in order to understand pricing) and get blanks. So much is overpriced and/or undervalued. The artists in the higher paying percentages are in the value category (as in, you’re shown the artist is established and your purchase is likely to appreciate).
How to choose the right price
Absolutely, "know your worth" and the value and the market value of your work is a key takeaway!
Feel free to watch our video on the value of art to see how discuss pricing@@Mel-kk4ij
100%
Valeu! Normally money is the end of the line. But Art remains the line. Thanks, CAI!
Great one-liner! Thank you so much Vicente!
Thank you for the very well structured and fact based market review. What do you think of an artist's location? How important is this factor? Is this a must to live in (or close to) London, Paris, Berlin to be commercially successful in Europe (for other regions of the world it will be certainly different). Is there any data on that?
Location is very important, unfortunately. I am a top rated digital artist on Upwork. When I had the location Europe - I had a lot of orders. When locating third world countries, I have no orders at all. LOL.
Good question; location can indeed be a rather important factor in the career of an artist. The power of the major art cities is still a driving factor for career success, but that doesn't necessarily mean that you need to live in such a city. Personally, I live in a small city in Belgium but have representation in Paris and Antwerp. Visiting those cities frequently helps, but the art world has also become very globalized thanks to the World Wide Web. Does help; yes. Is it crucial; no. A survey on this topic would be most interesting! Thank you for tuning in
Great info. I’m not sure hobby artists should have been included though.
Yes, it was a tricky call. Not only makes it harder to establish the total artist population when including the hobby artists, it also, clearly, makes the results look a lot worse. However, hobby artists aren't always hobby artists by choice. From this perspective, I felt like we should include this segment of the artist population. Thank you for tuning in!
Exactly. Also, I would argue that they should exclude amateur artists from the category of "career artists."
Thank you for your video. I have a question that I was hoping you could answer. Is it bad to sell art for a cheaper range of pricing? For example, non limited prints. I want to offer a variety of price range for my products where everyone can afford something. I know in a past video you said its frowned upon because it could result in a customer just only buying the cheaper option and ignoring the expensive options. The reason I want to offer a range of products where its more affordable is because I don’t want to exclude anyone from my art based off of financial status. I look back to other artist who offered their work for affordable prices such as Keith Haring when he opened a pop up art shop selling keychains, and posters. Or Yayoi Kusama who did the installation of “Narcissus Garden,” selling reflective shiny balls for 2$ each. I want to make a living off my art and sell high end pieces as well because I know the skill it took, produced quality worth being paid fairly for, but I also still want options for others because I made my art in the hopes that it could benefit others as well.
To clarify I’m asking this in the perspective that one day I wish to work with a gallery. I’ve noticed in your past videos you’ve mentioned certain actions are frowned upon in the art industry, so I don’t want to do something that might hurt my chances with being able to work with a gallery.
@@DragonKnight401 Yes, a very good and common question. I believe, in many cases, it is most certainly possible. However, try to be discreet with it-so no online shop on the website. Otherwise, it will scare collectors or galleries to work with. In general, I would advise not to. It is easier to sell $2.000 piece to one "real" art collector than to find 20 people who just want to buy something decorative and affordable at $100 when they like your work. Hope this might help!
As a left-brained hobby-classified artist, this was quite interesting. Average visitors to my house compliment and assume I bought my paintings from a professional. Maybe I can move up to advanced-hobbiest.
Go for it!
Just curious. Where would, say, a Disney artist rank as far as “artist” are those artists in the “art world” what and who defines “the art world”
I think this need to be successful can be damaging to artists mental states of mind. Its like a reformat on the brain. From NFTs to traditional and back its like coming full circle. Art is art and creating it is more than being active in social networks its a way of life. Don't confuse the two.
Interesting video, thanks. Nevertheless, I think that for a real artist, the issue of money is not the main thing. I think the main thing all the same is to create something great that will affect the minds of people, and then the money will go, or not. Art for money is not art, but business. Maybe I'm too idealistic, but that's what I think :)
It’s a mix of both like a movie who has a budget but need to reach a certain point at box office to not being a failure, even if it’s great
No, you are absolutely right. As we have discussed several times on this channel, pursuing lucrative purposes in the art world is destined to fail. However, when pursuing artistic purposes, you can actually start to have a lucrative business. Thank you for tuning in!
"Art for money" IS art. Otherwise no artist who paid their rent by selling their art would count as a "real artist". That's just silly. Some of us rely on art to pay our rent. It doesn't mean we make better - or lesser - art.
@user ... But why did you quote Picasso in another comment?
@@studiosyriaWhy is it important to call something ART anyway? To get more money for it?
Nobody knows what art is. It's a mistery. People can sell and buy anything. But the art is for sure not an object. These objects are only a visual translation of the mistery we call art.
^-^ as a fine arts student this video gave me hope lol
Well 1:6 odds are not bad. I'll try! :))
Exactly!! Go for it 💪
How can i raise funds for Studio Facility please.
Through begging on the streets 😅😅😅
I would be happy making $25-30K per year getting paid to be me. With no commercial decorative crap
And most artists do in the "emerging artist" segment. Being radically yourself is the most natural way to distinguish yourself in the art world. Go for it!
Ok, I know already that I don't earn any money - please tell us how to make a million 😂
I believe UA-cam already has enough videos on how to make a million 😂
''Decorative value'' = finely crafted work produced by someone who doesn't have the rubber stamp of establishment approval and is therefore 'unknown'. Meanwhile, some of the work I've seen in high class galleries would disgrace an average four year old. I would also dispute the idea that there are only 6000 'collectors' - last time I checked we had a global population of some 8 billion and rising. Depressing video.
One way to remunerate artists who exhibit would be to charge tickets as in any live show.
Interesting-like a museum ticket.
Sooo by this list i can consider myself an emerging artists, but I don’t make as nearly as much as 25k-100k a year but waaaaay less..meaning that I don’t trust this list that much.
Don’t stop you’ll reach that point
Hi there, if you have multiple shows with small to medium-sized galleries and a modest collectors base and demand for your work, you should be making $25K annually-if not there is something wrong with your representation or possibly the price point of your work. On the other hand, I also feel that the term "emerging artist" is being used too quickly, losing its meaning. Maybe you're on the verge of achieving this career level, and I hope you do. Go for it!
If you are a conceptual artist you can almost guarantee that you will have nothing to $ell.
A different career path, especially in financial terms. Project funding, grants, stipends, subsidy, galleries selling the unsellable and also offering alternative products related to your conceptual pieces such as limited edition prints of certain projects. Thank you for tuning in
Did you m'en Jeff Koons?! But in your video it's Jeff Cruz
I meant Jeff Koons at around 8:10 in the video. Thank you for tuning in!
🤩
🙏🙌❤
In another universe, artists make $2mil a month.
not enough if we want to eat. Enough to need a day job. Sometimes nada.
That's why I cannot stress the work-life-art balance enough. Otherwise, your career is lost before it had to chance to start.
Wall street is hiring 😉😉🔮🔮🗽🗽🤑🤑👽👽🤐🤐
😅
Where is Van Gogh fitting in your scale? He followed all your 10 commandments and still was earning next to nothing. The world even would not know about him if it was not the widow of his brother Theo after he commited a suiside as well. He was exhibited in a really prestigious gallery ( not medium but higher) yet not making a single cent for himself or for the gallery. His brother was making a decent life of selling the artworks of others, that would not be cathegorised even as established artists ( nowadays no body knows them) . Artists with " decent selling history" to quote you. He was known within the circles of artists that were allready well known and achieved later greater fame. To be more precise, they crossed paths at a time, but never exhibited together, neether shared contacts from the art market. He was trully alone, but not a loner as he would be described by the medics. The letters he had writen are masterpieces of the epistemology. Yet no one would learn about them if it was left to the galleries or collectors, but thanks to the tragedy that happened. Which cathegory would it be? The art lover, the hobby artist may be? And the money his art earns nowadays is not his (annual) earning for sure.
Van Gogh passed away 130 years ago, so the world has changed since then. Further, Van Gogh is an exception to the rule-hence having a great story. However, in reality 99% of the historical artists who are famous today were famous back then. Thank you for tuning in!
@@contemporaryartissue. Most artists work for the art, not for fame and money are a secondary issue, although nessesairy. In this sense Van Gogh is not an exception, but a rule. No one of his contemporaryes thought he would die poor and unknown to the public. The struggle for fame comes with the struggle for money. Remove that and you will get a pure contemporary Van Gogh. May be even many of them. I even wander if Van Gogh got any recognition beyond his professional circle, ever, while alive. Although, honestly speaking, Van Gogh did hope he will achieve greater recognition in time and refund his brother's financial support. That's why he worked so hard, I guess. It was interesting and informing your video, though. And hobby nowadays is a serious word. Not an accidental flame. Some people study one thing, but work what they started as a hobby.
Artists should perhaps better
behave like your dog, showing
this nice back into the camera.
The glass is mostly empty… -:)
Thank you
The pleasure is all mine!