Balloons Don’t Work

Every economic downturn sees the sprouting of balloons: balloons tethered to sidewalk signs, or floating from wires strung post to post.  Balloons battered by breezes and the loss of helium, until, eventually, they fall flat.  Like the current art market

 

Balloons don’t work.  They don’t attract the consumer’s attention.  They don’t drive business.  Why?  Because they’re passive.  Just hanging out there, bouncing up and down in the breeze, hoping to have an effect on a consumer who doesn’t have the money or the confidence to buy right now. 

 

The art market has seen such contractions before.  It starts with a downward trend in the stock market, which bleeds into the major art auction houses as speculators and investors start liquidating major purchases.  Soon the slowdown is felt in the major galleries, filtering down to those on Main Street as the entire economy droops.

 

Looking backward, one can generalize that the auction houses lag nine months behind the stock market.  Which means any rebound will also lag, and be tempered with a new-found cautiousness when it comes to valuation for the work of living artists.  It may be eighteen months to two years before demand for original artwork at all price points begins to rebound.

 

But you're an artist.  You have to create, can't conceive your life without creating your art. What are the options?  Besides putting out those balloons?

 

• Be cautious on how you spend your resources.  Shipping to juried shows can become an unexpected burden when the acceptance letter includes the extra handling charge per box – over and above the pre-paid return shipping costs - you weren’t anticipating.  Try to find out up front what costs might be involved.

 

• But do try to get your work out into as many venues as you can afford.  The goal should be to have your work seen by as many people as possible. And don't overlook your mailing list and quarterly postcards to let people know you're still in the game.

 

• Network – if you can.  Unfortunately, I’m not very good at it.  I try to network with fellow artists in my local area, but right now everyone seems to be in a protectionist mode.

 

• Be understanding if you can’t network – if you can.  When times are tough, we all find it hard not to believe there’s only one spot open on top of the mountain and it might already be taken.

 

• If you have gallery relationships, approach them about sharing the cost of a mailing or magazine advertisement.  Propose a solo show where you share costs.  Let them know you are as interested in their survival as you hope they are in yours.

 

• Concentrate on your work.  Do the best work you can do now.  Tomorrow, you’ll do even better work.  Be ready with a strong, distinctive body of work when the consumers are finally ready to open their wallets.

 

• Believe you can do it.  When circumstances conspire to get in the way of the goal, passion often goes into hiding – at the moment when you need it the most.  Hang on to your passion with both hands.

 

Links of Interest:

 

Five Theories on Why the Art Market Can’t Crash…and Why It Will Anyway 

 

Future Modern  Has the Art Market Peaked?

 

Art Market Watch 2009 Art Market Rebound?

 

Jonathan Jones On Art Blog Why the art world should care about the old folks

 

My Art Space>Blog  Art Market Reflections and Predictions for 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Comments

[Allen Rodi]

Wow...great post. I love the links at the end and your recommendations. I'll be back.

[Dawn Blair]

Hi, Susan. Great post. I hate those balloons too! Especially at car lots. I've seen too many of this long balloon strings cut off at about 7 in the evening and watched them fly away. I wonder how far they will carry in the atmosphere before falling to the ground, becoming litter and a potential trap for birds and other animals getting caught in the string. Makes me so angry!

Cheap tricks don't get buyers. Proving worth and value, providing service - those are things that people should be buying into. The economy won't change until people quit looking for the cheapest items to buy and instead start buying quality, service, and value.

For now, I'll paint like the economy doesn't matter and research the great references you provided. It's the only way to be ready when the economy swings the other way in it's constant search for balance.

[Donald Diddams]

Good food for thought. If I could add my own prediction, I think the "investment value" of art may continue to collapse. However, when the price reflects the lasting emotional and aesthetic appeal of an artwork, there will still be buyers.
This is no time to go into hiding. In fact, the difficult economic conditions may be an opportunity to make the case that art -- items of lasting value due to their beauty and emotional appeal -- may be a better use of discretionary income than the purchase of more gadgets and stuff.

[kim Hambric]

Gosh, There's someone out there who feels the same way I do. Until now, I wasn't sure there was even anyone out there. I've been wondering where all of the artists and all of the buyers are. I've been spinning in circles and wondering what, if anything, I should do. I've been wondering if I should even create any more art. I will, I will make it good and I will try to push it out there at least a little bit. Thanks for the tips.