An art gallery is a place where people can buy and sell artworks. They can also host exhibitions of art from local and international artists. There are many different types of art galleries. Some specialize in particular genres of art, such as contemporary art or abstract painting. Others are dedicated to a single artist. Still, others are more broad in their offerings and cater to a wide range of collectors.
Aside from displaying art, art galleries offer a variety of professional services. They may provide advisory services to the public on how to collect and care for artworks, art installation services, or investment services. In addition, they may offer art education to the general public and organize workshops for artists.
One of the most important things that art galleries do is to nurture visual artists and promote their work. They do this by working tirelessly to advance their careers and establish them in the professional art world both locally and globally. They achieve this by providing exhibition space, managing administrative and curatorial staff, advertising, investing in a myriad of expensive art fairs, and a host of other activities that are designed to serve their artists and build their reputations.
Art galleries often collaborate with art museums in order to create a mutually beneficial relationship. In many cases, this means that the museum will display works of art that are in their collection in a gallery exhibition. In other cases, a gallery will represent an artist or an artist estate in order to help the museum curate an exhibition for which the artwork is well suited.
The vast majority of artworks that are displayed in art galleries are sold. This is because art galleries are able to attract collectors and investors that are interested in buying and selling artworks. Art galleries typically earn money by charging a commission on each sale. This is a significant percentage of the selling price of the artwork. Artwork prices are determined in part by the market and in part by the reputation of the artist and their artistic style.
Gallerists are experts in art and have a strong knowledge of the art market. This is not just from their formal education, but also because they are constantly evaluating the art market and seeing what artworks are selling at what prices. This information helps them to determine what prices to charge for their own inventory.
The vast majority of art galleries are small and operate with a limited budget. As such, they must make careful decisions about what to spend and what not to spend. They also have to balance their commitment to the artists they represent with the financial realities of running a business. For example, some galleries have a policy of not spending more than 5% of their annual budget on an exhibition. This ensures that the gallery has the resources to continue operating if the artists they represent are not bringing in enough revenue.