Art gallery prices
Discussion
A gallery near me has a painting in the window which has gotten into my head. The sticker price is about five times what paintings by the same artist has gone for at auction (courtesy of artprice.com). I know it's not an investment, it's for the pleasure, and this is a gallery, but me being me, thinking I'm a mug for over-paying would detract from the pleasure.
So, any advice about how to approach the gallery? Are sticker prices fantasy only and they are fine about taking an offer of, say half?
So, any advice about how to approach the gallery? Are sticker prices fantasy only and they are fine about taking an offer of, say half?
Yep - no harm in asking. Galleries carry overhead that has to be covered from what is a low volume item - in other words, they don't sell much week by week so what they do sell has to carry a hefty margin.
Alternatively, you could contact the artist. Sometimes the paintings are sold via galleries on a commission basis and there's nothing stopping an artist selling the piece themselves.
Alternatively, you could contact the artist. Sometimes the paintings are sold via galleries on a commission basis and there's nothing stopping an artist selling the piece themselves.
The gallery normally acts as a selling agent for the artist or owner. They will take offers but unlikely to sell for 50% of the ticket price. Sometimes galleries will provide a finance option enabling you to purchase over a period of time, I know our favourite artist will. We managed to secure a 20% discount on an original piece of work but that was direct negotiation with the artist. Good luck.
hammo19 said:
The gallery normally acts as a selling agent for the artist or owner. They will take offers but unlikely to sell for 50% of the ticket price. Sometimes galleries will provide a finance option enabling you to purchase over a period of time, I know our favourite artist will. We managed to secure a 20% discount on an original piece of work but that was direct negotiation with the artist. Good luck.
Own Art Scheme gives 10 months interest free lending too. 
SpartacusF said:
A gallery near me has a painting in the window which has gotten into my head. The sticker price is about five times what paintings by the same artist has gone for at auction (courtesy of artprice.com). I know it's not an investment, it's for the pleasure, and this is a gallery, but me being me, thinking I'm a mug for over-paying would detract from the pleasure.
So, any advice about how to approach the gallery? Are sticker prices fantasy only and they are fine about taking an offer of, say half?
How long ago were the auctions you mention? Art’s a funny thing in the way prices fluctuate - we have stuff that’s sky rocketed, and stuff that’s done nothing. Perhaps that particular artist has become very popular all of a sudden, or even died. Might be worth checking prices of their other stuff of similar size, age and medium to see how prices compare?So, any advice about how to approach the gallery? Are sticker prices fantasy only and they are fine about taking an offer of, say half?
StevieBee said:
Yep - no harm in asking. Galleries carry overhead that has to be covered from what is a low volume item - in other words, they don't sell much week by week so what they do sell has to carry a hefty margin.
Alternatively, you could contact the artist. Sometimes the paintings are sold via galleries on a commission basis and there's nothing stopping an artist selling the piece themselves.
This.Alternatively, you could contact the artist. Sometimes the paintings are sold via galleries on a commission basis and there's nothing stopping an artist selling the piece themselves.
GCH said:
Done this many times. Galleries have a whopping markup on the artists price.
There is a gallery near me and I have never seen a single person in there. I am sure the person who works there is on Facebook for the majority of the day in between answering enquiries as they are always on their laptop when I walk past.The prices are so insane that I assumed the markup must be so large that they only have to sell a couple of paintings a month to make a profit?
I doubt you’ll get an offer of half the asking price looked at as a serious future buyer.
What would you say to someone who offered you half the asking price of a car you’re selling?
But as for art and gallery prices, yes huge mark up, I’ve got a collection of originals by a well known artist, about 7 years ago he contacted me to see if I’d be interested in a piece he had just re done, (added more to one he painted a few years ago) I declined as it didn’t grab me straight away, unlike every other piece I own.
Fast forward 5 years and it was in the gallery representing him and double what he offered it to me for, as far as I know it’s still there now a few years on.
So yes they have huge mark up to cover their overheads, staff and a bit of profit but I doubt you’d get more than 15-20%, if that off a ticket price.
Commission is the alternative depending on his contract with the gallery, some have to go through the gallery, some might do it on the side if kept quiet. Email the artist directly and ask, only way you’ll find out. They may be able to recall the piece and sell in to you, doubtful but you never know.
What would you say to someone who offered you half the asking price of a car you’re selling?
But as for art and gallery prices, yes huge mark up, I’ve got a collection of originals by a well known artist, about 7 years ago he contacted me to see if I’d be interested in a piece he had just re done, (added more to one he painted a few years ago) I declined as it didn’t grab me straight away, unlike every other piece I own.
Fast forward 5 years and it was in the gallery representing him and double what he offered it to me for, as far as I know it’s still there now a few years on.
So yes they have huge mark up to cover their overheads, staff and a bit of profit but I doubt you’d get more than 15-20%, if that off a ticket price.
Commission is the alternative depending on his contract with the gallery, some have to go through the gallery, some might do it on the side if kept quiet. Email the artist directly and ask, only way you’ll find out. They may be able to recall the piece and sell in to you, doubtful but you never know.
Galleries will usually take half of the sale price.
However, don't expect to get a 50% discount buying direct from the artist.
Art is worth what someone will pay for it, the value is unrelated to the time and difficulty in creating it. Most of the value is made convincing arts critics it is of worth.
Big discounts devalue all the artist's work going forward.
You are more likely to get a discount by building a relationship and being a known repeat buyer who will not boast about discounts obtained.
However, don't expect to get a 50% discount buying direct from the artist.
Art is worth what someone will pay for it, the value is unrelated to the time and difficulty in creating it. Most of the value is made convincing arts critics it is of worth.
Big discounts devalue all the artist's work going forward.
You are more likely to get a discount by building a relationship and being a known repeat buyer who will not boast about discounts obtained.
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