Proffessional Practise 3:The business of art
Contemporary / Commercial Art world
2008 – recession, art values fell ‘bottom fell out of art market’ similar to houses etc – particularly the top end prices of art such as Damien Hirst.
The art eco-system model …… art school – artsists – artist peers – artist led or curated exhibition – critics – dealer- -Gallery Representation – Takes the leg work out of applying for galleries – they will look for gallerys for you – and possible sell it
Subscription What you want as an artist is subscription ‘someone on your side’, if you get your name out there and people like your work its like a magazine subscription, things then happen from there. It may even start from someone buying your work and putting it somewhere and then people see it.
Residencies Some artists go from one to another – building there name
Contemporary Art World Cutting edge what going on currently such as Freize, Bienalle. Includes museums / galleries / collectors
The business of art Artists that make art for offices like a product Subscription on operates to a very localised degree in retail art market How much you want to be involved with the selling og work – some artists are happy to do so therefore retain all the sales prices. Galleries take 30-50% of the price
Businesses such as McDonalds buy art as they get a tax relief
Independent galleries are worse off than commercial as funding is sqeezed. YSP is the biggest funded by the arts council in the country.