An art gallery is a venue where artwork is displayed and sold. It can also act as an intermediary between an artist and a buyer, assisting with the production, distribution, marketing, and customer relations of an artistic creation. Depending on their operational strategy and intention, galleries can be divided into several types.
The most obvious and visible role of an art gallery is promoting and selling artworks. In this regard, galleries build a portfolio of artists that they collaborate with on a long-term basis. These artists are referred to as represented artists. In addition, they present their artists’ work to public and private collections, cultural institutions, museums, biennials, and salons in order to boost the artist’s fame and sales.
Art galleries are often specialized in certain art genres, for example photography, sculpture, or mixed media art. Some galleries even promote specific eras or styles of art such as modernist artworks or antiquities.
To attract and reach a wider audience, art galleries offer diverse services such as education, cultural heritage, research, and conservation. These activities are usually carried out with the help of professionals in the field, as well as with the support of local and international donors.
In return for their efforts, art galleries earn a commission with the sale of an artwork. This creates a win-win situation for the artist and the gallery. The gallery is motivated to push their artists’ careers and sales, and the artist is happy with the results because the more successful the art becomes, the higher the commission.
For example, a piece of art that sells for $200,000 to a private collector can generate commissions in the range of $100,000 to $140,000. This is a good deal for both parties, since the gallery can cover their expenses as well as the cost of producing more artworks.
The most challenging and critical aspect of an art gallery is its financial health. Revenues are declining in the wake of the recent global recession, and many galleries struggle to make ends meet. In fact, a survey by the Art Newspaper found that North American galleries projected a loss in revenues of up to 71 percent.
Another challenge is the lack of a common framework and terminology for the art market. This can lead to incongruent pricing and valuations, which in turn affect the overall value of an artwork.
As an aspiring artist, it is important to familiarize yourself with the various terms used in the art world. It is also helpful to attend as many exhibition openings and events as possible in your area. This way, you can become a regular patron and begin networking with other art enthusiasts. You never know who might be able to connect you with a powerful art collector or gallery owner that can help you get your work into a reputable exhibition space. Moreover, attending these events gives you the chance to show your work to the gallery owners and get a feel for the atmosphere in the art community.