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Are You Panicked About a Drop in Art Sales?

Carolyn Edlund

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September 2nd, 2014 - 08:52 AM

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Are You Panicked About a Drop in Art Sales?

by Carolyn Edlund

A few months back, I talked to a very well-known artist who had made a fortune licensing her popular paintings several years ago. She still has licensing contracts – but her income was down 20% over last year, customers were hesitant, and she was starting to get stressed. She asked, “Am I doing something wrong?”

Later, I spoke with another artist I know, who had built a profitable business licensing images to greeting card companies. His largest account was currently renegotiating his contract – with a lower percentage for him. He wondered, “Is this happening across the board?”

A connection on LinkedIn messaged me, insisting that I address the problem that certain cities are art-friendly and others have dried up, with virtually no potential for sales of original work. She was casting around for the answer to this dilemma.

Then, an article appeared on Fine Art America regarding Print on Demand royalties diminishing to around 5% for artists … Not good news for anyone trying to make income through that avenue.

Is the world coming to an end? Well, it can seem that way sometimes. The truth is that no matter what industry you are in, change happens – and you can’t stop it. You have to deal with it.

I experienced changes in sales volume while I owned my production studio, and also during my career in art publishing sales. At times, reliable sales sources faded away. Major accounts went belly up. Trends changed, making top sellers not-so-popular anymore. It was impossible to get too comfortable making money through one channel or relying on your current customer base. It was easy to start feeling that panic.

When you expect change, and prepare to embrace it, you won’t feel helpless and panicked. Everything comes to an end at some point, but you do have options. Keep yours open by using these strategies:

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Lance Trout

9 Years Ago

Sarasota, FL

Kinda seems like there's a whole new shift with the younger generation , and the Internet . People get great Images for free , so I guess they don't see the value in Originals . Like the article says , find new niches , and network for Online sales .

Wayne Moran

9 Years Ago

Minneapolis, MN

So the question is, where is the bright spot in the fine art sales world??