Art Business Info: NEWS
about art for artists
I've always maintained that Damien Hirst's real talent lay in marketing and selling. For me he is a classic example of an artist whose ability to work out how to market his art - and to manipulate the art market for his benefit - considerably outweighed his talent as an artist.
The False Narrative of Damien Hirst's Rise and Fall
by Felix Salmon in the New Yorker (6th December 2017)
This article is a "must read" because it highlights how Hirst has fundamentally challenged the notion of:
With the 2008 auction, Hirst moved out of the world of commodities, which are bought and sold speculatively with a profit motive, and moved into the world of luxury goods, which are bought to be consumed and enjoyed. Which is exactly what art should be!
It also focuses on the fact that by moving art sales to "direct sales" between artist and art collector, a considerable amount of art market data has moved out of the reach of those who purport to know about 'value'. All they know about now is the amounts which are in the public domain because of art sold at auction. That's not always where the important sales are done any more.
After (his 2008 auction sale) Hirst started selling his work directly to collectors, at scale, and stopped playing by the established gallery-system rules. Hirst’s galleries were furious, but there was nothing they could do about it. Freed from gallery constraints, Hirst could make the work he wanted to make, and sell it at whatever price his collectors were willing to pay.
Hirst is obviously an artist operating at the very high end of the market. He's ripped up the rule book and started to reinvent the art market.
After partnering with an auction house in 2008 to create a gigantic sale of his work, in 2017 he partnered with a Francois Pinault (the French luxury goods billionaire) and took over two museums to create an enormous thematic show and made the Venice Biennale an explicit commercial venue for buying art.
Hirst says that sales from his latest show, in Venice, reached a jaw-dropping three hundred and thirty million dollars as of early November.
One has to ask to what extent artists operating further down the food chain can do the same thing:
To my mind it's perfectly possible - but only if artists hone their marketing and selling skills as well as those related to creating art and partner with the right people and platforms.
We've already seen it to some extent with the achievements of those who have created a credible art business by selling direct to collectors online.
Now we need to see whether artists start partnering with venues to sell their art in new ways - just like Damien Hirst...
Like I said - it's a recommended read for those who acknowledge that marketing has a lot to do with how value is created in the art market.
Wanting to find out about the business side of art?
Art Business Info. News for Artists
Successful artists get on top of the business side of being an artist.
Do you want to:
Visitors so far
No. of visitors since April 2015:
and receive every post via email.
Your subscription is only activated AFTER you VERIFY the link in the email you will receive.
Katherine Tyrrell writes about art, artists and the art business and has followers all over the world. She also delivers workshops for art organisations and reviews websites and career strategies for artists.
Art Business Blogs
Art Biz Blog (Alyson Stanfield)
ArtBusiness.com (Alan Bamberger)
Art Business News
Art Marketing News (Barney Davey)
ArtPromotivate - Tips
Artsy Shark (Carolyn Edlund)
Be Smart about Art (Susan Mumford)
Fine Art Views (Clint Watson)
Laura C George
Professional Artist - News
Right Brain Rock Star - no longer publishing
Savvy Painter Podcasts
The Abundant Artist (Cory Huff)
The Art Law Blog
The Clarion List - Blog
ABOUT ART BUSINESS INFO. FOR ARTISTS
This website aims to provide a compendium of resources about the art business for artists.
It helps artists learn how to do better at being business-like, marketing and selling art and looking after their financial security.
Please read "PLEASE NOTE"
If you've got any suggestions for what you'd like to see on this website please send me your suggestion
1) Content and the law change all the time - and it's impossible to keep up with.if you're not working on the topic full time.
2) I do research topics carefully. However, I am totally unable to warrant that any/all information is
3) Hence all information I provide comes without any LIABILITY whatsoever to you for any choices you make.
4) This website is free for you but not for me. Links to books are Amazon Affiliate links. Buying a book via this website means I get a very small payment which helps to fund and maintain this website. .I much appreciate any support your provide. Adverts are provided by Google AdSense - but the adverts do not mean I endorse the advertiser.