Art is a commodity that can never go out of business. The taste of the clientele may sometimes vary, but the cha-Ching of the cash register sounds the same for every piece of artwork that leads to a commercial transaction. The taste for art is not a modern privilege, art has always had some sort of price tag attached to it – something that provides glee to some and is a thing of shame for others.
The most powerful people in history have always shown patronage to the artists that they feel are talented, and this has happened not just in one age or in a single region. Be it the Medici family at the time of Renaissance in Florence honing great talent like Leonardo Da Vinci and Michelangelo , The Mughal emperor Akbar in India with “Nine Gems” in his court or even Hitler who saw the Architect of the Third Reich Albert Speer as his “only” true friend, Artists have always had the support of powerful people who take a liking to their work.
An Art Gallery needs to be built step by step, laying foundations to make it larger while at the same time giving it enough room to grow.
The main components of any art gallery are:
• A list of Art Collectors who are potential clients
Every business starts itself by taking a small step, similarly you need to build a base of the right clientele and more importantly understand their tastes so that it becomes crystal clear to guess what kind of artwork would be bought by which customer as an impulse purchase as something shiny they NEED to own (Believe my words, most of the artwork is sold in this manner only).
• Artists that can supply artwork currently in demand
The artists are the heart, soul, and backbone of the Art world, without the artists’ creativity, there would be no such thing such as Art Galleries. Some Galleries prefer to operate on a specific theme or “style” of Art. Modern Art, as well as the classic styles both, have their own lists of connoisseurs and their own market and you can choose to have either or a mixture of both based on the availability of your Artists.
• A strong business sense with an eye for Art
This is the second most important part of the Gallery. Artists have a talent for creating the art in their minds and give it a physical form. Every piece is a breakthrough for all artists, after all, who would create a “bad” piece of art? It is always up to the Gallery owner to recognize the money he would make on each piece and which pieces would be shunned by the buyers
• A well built a social network within the Art Community
Art has many forms and one needs to be acquainted with a huge number of both Artists and Patrons once they take on the responsibility of running a successful gallery. There is a need to be socially active at events like openings of other Art Galleries and Art-themed galas at museums
• A significant amount of Capital especially for a Prime Location
This is the cous-de-gras that is the deciding factor for the footfall that happens on a daily basis. A good location is often visited by people who appreciate Aesthetic Beauty, thus making them likely Art Buyers