Whether you’re considering art as a professional calling or have recently graduated from art school, a key challenge that many artists face is navigating the complexities of marketing artwork (and themselves) while making a sustainable living as an artist. Therefore, even the most talented of artists need to have a solid understanding of the business side of the field. In doing so, you can learn how to successfully build your personal brand as an artist, how to market your art and how to manage your finances in this passion-driven field.
Not sure where to begin? Below, we break down the essentials of navigating the art market and finding long-term success.
Building Your Brand as an Artist
One of the most essential steps you can take to start selling art and making a name for yourself is to build a personal brand that includes your unique artistic identity and a strong online presence.
Defining Your Artistic Identity
Your artistic identity, also commonly referred to as an artist persona, is what makes up who you are professionally. For artists specifically, your identity reflects not just your personality but also your distinct skills and style that sets your creations apart from those made by other artists.
It’s normal for your artistic identity to evolve over time — but for now, strive to come up with a basic “elevator pitch” that describes your artist persona in just one or two sentences.
Creating a Professional Online Presence
Having a strong online presence has become increasingly important in today’s art world, especially considering that many artists find success selling their work directly from their websites or even through social media for artists.
Where should you be active online? At the very least, focus on building an artist website that includes creating an artist portfolio of your best work. Being active and sharing your work on popular social media platforms (such as Instagram, TikTok, and LinkedIn) can also be an ideal way to expand your reach, grow your audience and connect with other artists.
Networking and Collaborations
Another central aspect of artist branding is connecting and working with others. By building your professional network, you can gradually establish your own connections in the field that could lead to exciting opportunities, including collaborations and partnerships with other artists.
Marketing and Selling Your Art
Artists value the creative process that goes into making their art, but when it comes to pricing artwork and marketing artwork to sell, they may feel a little less confident. This is normal as a newer artist, but marketing and selling your art is something you’ll have to grow comfortable with over time.
Pricing Your Artwork
There is much to consider when pricing a single piece of art. Most importantly, artists should do their research on art market trends to see what comparable work is selling for by other artists. Meanwhile, weighing factors like the amount of time spent on the piece as well as the cost of materials can help artists settle on a fair price.
Selling Through Galleries vs. Direct Sales
When pricing artwork, it’s also crucial to consider whether you’ll be selling directly or through a gallery (or other online art selling platforms). If you are selling directly, such as through your own artist website, then you’ll be able to keep 100% of what you make (minus any funds you may set aside for tax purposes).
When selling through a gallery or online platform, on the other hand, a commission may be taken out — and it’s not uncommon for these commissions to hover somewhere around 50% of the price of the work.
Leveraging Online Marketplaces
Online art selling platforms and social media websites can be integral to promoting and selling your work, along with building your reputation as an established artist. If you decide to go this route, be sure to list each piece of artwork with as much detail and description as possible. This should include high-quality photos, plus a description of your process and materials used. You might also consider sharing links to your online shops on social media and your artist website as a means of self-promotion.
Managing Finances as an Artist
Another common question that new artists tend to have is, “How will I be able to manage my finances while working in this field?”
After all, artist income isn’t always 100% steady or consistent. Although the United States Bureau of Labor Statistics (BLS) lists the 2023 median pay for craft and fine artists as $52,910 per year, artists may have peak months where they sell a lot of their work — followed by slower seasons. Keeping in mind a few budget and business tips for artists, you can better manage your bottom line.
Budgeting and Financial Planning
One of the best tips regarding financial planning for artists is to simply create a budget and stick to it as much as possible. As you begin bringing in income, you’ll be able to get a better feel for how much you can expect to make each month. From there, take the time to break down your monthly expenses (including both essential and non-essential expenses) to allocate the money you make and (ideally) set some aside for savings.
As you start off in the art world, try to save as much money as possible. This way, if you run into a slower period, you’ll have some funds to fall back on as an emergency fund.
Tracking Sales and Expenses
As an artist, it’s wise to keep detailed records of the sales you make and the expenses you incur for tax and planning purposes. Artists may find it useful to keep a detailed spreadsheet of works sold and how much each piece sold for. Likewise, keep receipts for any materials and supplies that you purchase — along with documentation for business expenses (such as maintenance for your artist website).
Taxes for Artists
Many artists work as independent contractors, meaning they are responsible for setting aside money to pay taxes. Unlike with a “traditional” W-2 job, taxes are not automatically withheld from the earnings you make when you sell a piece of art. Instead, you’ll likely need to pay self-employment taxes and make quarterly estimated tax payments on your income throughout the year to avoid unwanted fees, penalties, and interest. You can read more about the process of paying taxes as an independent contractor on the IRS website.
Building Relationships With Galleries and Collectors
Establishing connections with galleries and art collectors can be a go-to way to build an audience of potential buyers while gaining exposure to larger audiences. However, knowing how to approach art galleries and cultivate relationships with art collectors is an art in and of itself.
Approaching Galleries
Getting your art into a gallery can be challenging in a competitive market, but following certain strategies that can make all the difference. First, artists should get involved in the physical art world as much as possible. This includes not only visiting galleries but also getting involved in local art fairs and networking with gallery owners.
When reaching out to a gallery, consider attaching copies of your work and/or resume, plus a link to your online portfolio. Keep your message short and sweet, focusing on why you think your work would be a good fit for that specific gallery.
Cultivating Relationships With Art Collectors
As you begin selling your work, try to set yourself up for repeat sales by cultivating meaningful relationships with collectors. Engage in conversation with them, reach out when you have new work available and consider offering exclusive content or other special offers to close the deal. Repeat buyers can be some of your best customers, but it will take some dedication on your end to make this happen.
Promoting Your Art Through Exhibitions and Shows
Being involved in art exhibitions and other local events is an excellent way to increase exposure and get your name out there. Some artists may even consider hosting their own shows to help generate interest in their work locally.
Participating in Art Fairs and Exhibitions
Most art fairs and exhibitions require artists to submit detailed applications, and some may even require fees. With this in mind, it’s critical to do your research on any event to ensure it will be a good fit for you before you spend the time (and money) applying.
At art events, take advantage of the face-to-face networking opportunities available to you. Don’t be afraid to strike up conversations with visitors; you never know what could come out of a simple dialog.
Hosting Your Own Shows
If you have a lot of work to show off (and potentially sell), consider hosting your own art show. In addition to your own artwork, you can collaborate with other local artists to showcase a series and get your names out there. Hosting a show with other artists can also be a practical way to mitigate costs.
Long-Term Success and Growth as an Artist
Many artists who find long-term success in the field don’t have just one source of income — and they never stop learning.
Developing Multiple Revenue Streams
In addition to selling your artwork outright, what are some other avenues for income that you could explore as an artist? Common examples of different revenue streams to explore include:
- Teaching art lessons
- Working at an art gallery or other event
- Holding special workshops and presentations
- Monetizing content you create on social media
- Renting out your studio space when not in use
Continuous Learning and Skill Development
Ultimately, even the most skilled artists need to be committed to a lifetime of learning and growth. Trends in the art industry are constantly changing and evolving, so staying on top of the latest trends, tools, and techniques helps you remain relevant and maximize success.
Kickstart Your Career With Help From RMCAD
There is plenty to keep in mind when it comes to establishing yourself as an artist, growing your career and making a living in this competitive field. At the end of the day, knowing how to price your artwork, how to forge meaningful connections with other professionals in the field and how to sell art on social media can help you build your personal brand and reach new levels of success.
Of course, having the right education is invaluable. At Rocky Mountain College of Art + Design, our Bachelor of Fine Arts degree program prepares students not just with the technical and creative skills to make stunning art but also the business acumen necessary to gain a fundamental understanding of how this field operates. Learn more about this career-focused program by requesting further information today. Additionally, you may get started by filling out your online application for admission.
