How to navigate the art world – a primeR

I am frequently asked by art lovers and buyers how the art world works. “It seems so confusing,” they say, “and prices are all over the place.”

That’s true — and fair!

Fortunately, the answer is simple, although it can look complicated to newbies. Here’s a chart that can help:

Blue Chip

At the top are the biggest artists, living and dead. These are the names you may know — Damien Hirst, Jeff Koons, Andy Warhol, and Joan Mitchell.

Prices for their works run the gamut, but you can think of this segment as six-figures and above.

In finance/startup speak, these artists are the equivalent to publicly traded stocks.

Mid-Career

Rising stars fall in this category, many with name recognition, already. Andrea Bowers, Julie Tuyet Curtiss, Loie Hollowell, and Alex Dodge are some examples.

“Mid-career” is not indicative of the age of the artist, but rather the maturity of the artist’s place in the market and prices for their work. These are generally in the $10,000 to $100,000 range.

Mid-career artists are the equivalent of a company who has at least completed their Series A financing round.

Emerging

Everyone else falls into this category regardless of talent, age, years in the industry, and press coverage.

Consequently, the greatest deals to be had are here.

Prices for works by these artists generally run $10,000 or less but can be higher, depending on the size of the art and effort required to create it.

Think of emerging artists as if they are a startup in their seed rounds (aka friends and family) or starting their Series A raise.

Tips for navigation

In the coming months, I’ll be sharing tips on how to connect with the art world in interesting and fun ways:  how to shop at an art fair, how to buy art made by an artist you have seen in a museum, how to get the most out of an art gallery visit and more.

Email me if you have any art world questions that I can answer and let me know what you think!