WingedBlue Arts: Selling Artwork

Selling Your Work

Text and Artwork:
Copyright © 2009 Beth E Peterson.
All rights reserved.

Prices, agents, galleries, paperwork, taxes...Oooo, selling your artwork may not be quite as straightforward as you would like.

To Sell Or Not To Sell....:

First and foremost, you have to know if you want to sell your work or not. Okay, I know it may seem like a weird question, but that doesn't mean that it isn't a valid one. Do you, indeed, want to sell your work, and if so, how high is that your priority list? Some artists find that someone offering them money for a piece is tremendously flattering; they like the flattery...but somewhere deep down they really don't want to part with the piece. Is that ok? Well, of course it is! Just remember, whether you decided to sell the piece or not, to accept the compliment with grace.

If you have decided that you would like to sell your work, you need to determine how selling ranks on your priority list. Let me say, however, that for the vast majority of us it is not practicable to expect to be able to live on the proceeds from the sale of our work. If you are truly interested in making your art into a business, I would highly recommend that you take business courses, research the art industry and heavily research marketing and advertising. Warning: it is not easy, nor inexpensive, if you want to do it well. In addition, count the costs that such a route will inevitably have on your time and energy: time that you may really prefer to use creating, not marketing.

Having delivered my little speech, let me continue by saying that selling your artwork, if it is not taken into the realms of business, livelihood or self-aggrandizement, can be a very pleasing experience that compliments, not detracts from, the thrill of creating art.

Pricing Artwork:

This is an area which can often cause headaches, largely because it is a matter of intangibles. However, it may help if you break apart those things which should factor into a price:

Your overall level of artistic ability,

The particular media used (e.g. acrylics command higher prices than watercolors),

The skill and vision you have demonstrated in the particular piece,

Your reputation as an artist (including your track record of sales, shows, awards and so on),

The public's perceived value of art in general,

Your targeted audience's level of affluence and interest in buying,

The monetary ranges in which artwork is selling at the particular location of the sale.

The location of the sale does have a lot to do with what price you can ask for and expect to get. There are significant differences even between big cities, such as New York City and Chicago.

Your prices, at a minimum, should cover your out-of-pocket expenses such as paints, brushes, canvas, stretchers and frame. If at all possible you should also shoot to pay yourself some sort of an hourly wage as well. This will almost certainly have to be set well below the national minimum wage. As a rule, the artist does not command the market, the buyer does. It is for this very reason that those who want to make money at art often resort to mass-produced prints (which take relatively little production time for the artist) instead of attempting to make a living from the sales of original work only. Something to be aware of, however, is that many collectors judge that a painting's worth to them has significantly decreased if there are reproductions of it in circulation. Part of what a collector is paying for is the exclusiveness of that original.

Agents and Galleries:

Agents tend to be for the professional artist who really wants fame and fortune. In many cases, so are the prestigious galleries. Unless you have at least 50 professional-level, salable pieces...and can keep up the production...you don't really have enough potential income-earning power to justify an agent or larger gallery taking you on. On the other hand, anyone who is acting as your salesman is actually your agent and there are almost always a number of local galleries in a fair-sized city. In general agents get 33% of the purchase price; galleries often ask for 35%, with a range going from about 30% to 55%. One gallery I know of asks for 20% and charges a fixed monthly hanging fee, no matter how many of your works they actually hang. This is very economical when hanging several works and it ensures the gallery some income in case nothing sells. I find it to be a very fair arrangement for all concerned.

Paperwork:

I'm sorry, there really is no getting out of it. If you sell a piece, even if it's a direct sale (perhaps even more so if it's a direct sale), you will need a written bill of sale: one copy for you and one for the buyer. The bill of sale should included the following information: the date, the name of the seller (you), the name of the buyer, the name of the piece, a description of the piece (e.g., ‘20" x 30" oil painting of three ducks on pond'), the price agreed upon and paid, and a notice of retention of copyright. The retention of copyright should go along the lines of: "The seller and buyer agree that the seller retains all copyrights, including the right to mechanically reproduce, ___(the name of the piece)___." Besides ensuring that you can reproduce the work (such as in a book or other publication), this also safeguards you from someone buying a painting and printing off thousands of reproductions which they profit from, not you.

If you are planning on printing posters or glicees of this particular painting, it is only ethical to notify the buyer that this is the case, before the sale is finalized. Should the buyer object, you may be able to come to an agreement, such as a written addition to the bill of sale which states that you will only reproduce the work in books of your work, etc., and that the buyer will pay a higher purchase price to retain the painting's uniqueness and exclusivity.

Also, remember that it is really unreasonable to think you're going to get someone to happily hand you a painting off their living room wall once they have bought it, even if you are able to track the piece down again. If you think that there is even a remote possibility that you may want or need to reproduce this piece, get a professional-quality transparency (or even the four-color separations) done before you sell it or send it off to a gallery or show.

Besides the bill of sale, you should always retain copies of all other contracts, such as the contractual agreements between yourself and galleries, shipping agents, exhibitions, and so on. Even after the term of the contract has expired, keep the contract as a quick reference: what can you expect from similar contracts; are there trends developing in the way art as a business is handled; are there fluctuations in price and/or service?

If you sell enough artwork, you will have to declare this income to the IRS and your state's revenue office. Keep records and receipts for expenses. Keep records of sales. You may want to officially become a business which means you can take certain tax deductions; however, you have to begin turning a profit within three years of the IRS will drop you into the ‘hobby' category. If you are selling your work directly to buyers, check your state's laws regarding the collection of sales tax; you may have to collect it and send it in. All in all, it may be helpful to talk with a tax accountant or other professional financial advisor.