How 10 full-time artists are responding to an economy that is dragging its heels

One way to look at a sluggish art market is that every challenge presents an opportunity. It is a time to examine, recalibrate and innovate.

Artists and galleries are reporting that there is still plenty of art-spending money around, but that buyers are taking longer to make a decision and are spending less on their purchases.

Artists that became accustomed to sell-out shows during COVID are seeing only half of their paintings find new buyers in exhibitions. At art fairs, exhibitors are returning home with more unsold works, but receiving more after-fair sales.

Ten exhibiting artists gathered together in Sydney to discuss their experience and to share information. The following list is a summary of their plans for the coming year.

 1.⁠ ⁠Focus on Building and Using a Database

Collect and regularly update a list of contacts and potential buyers from both direct sales and exhibitions. Use email marketing to engage with this audience, promoting new works and events.

 2.⁠ ⁠Leverage Social Media for Direct Sales

Continue using Instagram and other platforms to sell directly to buyers. Experiment with smaller, quickly sellable works to maintain cash flow and build anticipation among followers.

 3. ⁠Explore New Platforms like Pinterest

Link social media and website sales platforms (such as Instagram and Shopify) to Pinterest, which acts as a long-term search engine, increasing exposure for art over time.

 4.⁠ ⁠Enter Art Prizes Strategically

 Prioritise entering art prizes that align with your style and audience. Be selective to avoid emotional burnout and only enter contests that provide valuable exposure or opportunities for growth.

 5.⁠ ⁠Diversify Art Sales Channels

Avoid relying too heavily on galleries, especially those that provide little marketing support or slow payments. Develop a combination of online, gallery, and direct sales to mitigate risk.

 6.⁠ ⁠Adjust Exhibition and Production Schedules

Reduce the number of exhibitions or shows to avoid market saturation. Use this downtime to focus on creating more complex and higher-quality works, improving long-term sales potential.

 7.⁠ ⁠Collaborate with Effective Art Dealers or Agents

Work with dealers or agents who actively promote and sell your work, either through fairs or online. Ensure they provide value beyond gallery representation by exploring new markets and creative sales approaches.

 8.⁠ ⁠Shift Away from Commissions

Consider cutting back on commission work if it interferes with creativity and artistic vision. Commissions can sometimes lead to artistic compromises or lengthy processes that reduce productivity.

 9.⁠ ⁠Use New Marketing Strategies

Experiment with Substack for audience engagement through newsletters, blogs, or content-driven communication. This could help drive traffic to art sales and foster a community around your work.

10.⁠ ⁠Slow Down and Focus on Artistic Quality

Prioritise quality over quantity. Take the time to enjoy the creative process and produce more meaningful, well-thought-out works. This could also allow for price increases and a more sustainable work-life balance.