Art Galleries and the Economy

There's no doubt that tough economic times are having a detrimental effect on art galleries. In fact, another well known gallery, Studio Arts Gallery in Laguna Beach, is one more gallery that will be closing its doors at the end of this month. The owners said that decreased sales made it too difficult to keep their doors open. However, many gallery owners are trying to stay positive, knowing that art is something that will always draw people in and generate interest. As Horace put it, "A picture is a poem without words. " While art may not be a necessity, it is something that strikes people on a deeper level. It can challenge people to think, open people's eyes and make a statement- political, social or in general. As times get harder, it's important to be reminded of something that Stella Adler once said: "Life beats down and crushes the soul, and art reminds you that you have one."


It's hard to believe, but a Paul Cezanne painting was rumored to have sold for over $250 million in early 2011.

The Card Players by Paul Cezanne

In 2006, a Jackson Pollock painting sold for $140 million.

No. 5, 1948 by Jackson Pollock

Of course, paintings by Pierre-Auguste Renoir, Pablo Picasso, Vincent Van Gogh and Gustav Klimt have all been record sellers in the past as well.

Many times, people come into SmithKlein Gallery and ask what makes a piece of art valuable. "Is it the name?" they might ask. The truth is that there are many factors that contribute to a piece having more value. A renowned name can help, but there's more to it than that. There is a somewhat small community in the art world that tends to make decisions about the value of art. These decisions are not set in stone, of course. It also doesn't mean that exceptions aren't found. In terms of pieces that are not being considered for auction though, it comes down to the cost of the materials, time put into the work and how much the artist feels the piece is worth. Sometimes an artist will have an attachment to a favorite piece, so he or she might ask a higher price for it. Keep in mind, with art, the materials are generally not cheap. One large tube of colbalt blue oil paint can cost $75.00! While most art will appreciate over time if kept in good condition, we feel that it's better to buy what you love rather than worry about the resale value.

This article is rather amusing. I'm not sure I agree with everything, but I suppose many of the "rules" might be applicable to art in a broad sense. However, in contrast to what was stated, we have an artist who creates lovely cow paintings, and she seems to sell her work quite well.

Daisy Daze by Linda Elliott

I guess it's a matter of taking suggestions around art with a grain of salt or two. In fact, that whole part about how paintings about death don't sell can be tossed, as Massacre of the Innocents by Peter Paul Rubens sold for a whopping 76 million in 2002.

Massacre of the Innocents by Peter Paul Rubens

I would not hesitate to buy this painting by Picasso (if I had wads of extra cash lying about and it were for sale), despite the fact that is goes against quite a few of the rules in the article. True, it's dark and it's about death and violence, but it is one of my absolute favorite paintings. The painting has spent time in many art museums around the world.

Guernica by Pablo Picasso

Getting back to the original topic, these are, indeed, difficult times for galleries. Most people don't have millions of dollars to spend on paintings or sculptures. On the other hand, most galleries are not selling works by the old masters either. Gallery owners are hanging on in this difficult time and are doing all they can to make ends meet. A few things that have helped many galleries include adding events, reaching out to the community more and working with artists to bring in more variety. Mark Steven Greenfield, director of the Los Angeles Municipal Art Gallery states, “What I see happening is a return to work that has a basis in skill and craft.” He remains positive, and thinks that people will respond when artists are somewhat forced to focus on quality work. We are incredibly grateful to have artists who aim for excellence at SmithKlein Gallery. We also appreciate so much the support of our clients and friends, and we hope that people will continue to support the arts in general, even during economic hard times.