Art consignment is a common practice in the art world, where artists place their artworks in galleries for display and sale, while retaining ownership until the pieces are sold. This arrangement can offer numerous benefits but also comes with several drawbacks. Let's explore the pros and cons of art consignment for artists.
Pros of Art Consignment
Increased Exposure
One of the most significant advantages of consigning art to a gallery is the increased exposure it provides. Galleries often have a steady stream of visitors, including art collectors, critics, and enthusiasts, which can significantly boost an artist's visibility. This exposure can lead to sales and help in building a reputation within the art community.
No Upfront Costs
Unlike other gallery models that may require upfront fees, consignment galleries typically don't charge artists to display their work. This means that the financial risk for the artist is minimized, as you do not have to pay for the display space or marketing costs upfront.
Professional Presentation
Galleries usually have the expertise and resources to present artworks professionally. This includes proper lighting, framing, and placement, which can enhance the appeal of the artwork and potentially increase its value. Additionally, galleries often handle marketing and promotional activities, which can further attract potential buyers.
Flexibility
Consignment agreements will often allow you to retain the freedom to exhibit your work in multiple venues simultaneously, as long as there are no conflicting agreements. This flexibility can help artists reach a broader audience and increase your chances of making sales.
Cons of Art Consignment
High Commission Fees
One of the main drawbacks of consigning art is the high commission fees charged by galleries. These fees can range from 40% to 50% of the sale price, which can significantly reduce the artist's profit. While this commission incentivizes the gallery to sell the artwork, it also means that the artist receives less money from each sale. Although it should be noted that the majority of galleries are charging these kinds of commissions when you show as part of their stable.
Uncertain Sales
There is no guarantee that the consigned artwork will sell. Galleries are under no obligation to sell the artwork within a specific timeframe, which means that the artwork could remain unsold for months or even years. This uncertainty can be frustrating for artists who rely on sales for their livelihood. On the otherhand when you are part of something like a two week exhibition it is in the gallery's interest to move as much art as quickly as they can.
Trust Issues
Trust is a crucial factor in consignment agreements. Artists must trust that galleries will honestly report sales and prices. There have been instances where galleries have not disclosed the full sale price or have taken longer to pay the artist their share. Additionally, there is a risk that collectors might try to bypass the gallery and purchase directly from you, the artist to avoid paying the gallery's commission, which can strain relationships.
4. Risk of Damage or Loss
While the artwork is in the gallery's possession, there is a risk of damage, theft, or loss. Not all galleries carry insurance for consigned items, meaning that the artist might have to absorb the loss if something happens to their work. This risk can be mitigated by ensuring that the consignment agreement includes insurance coverage, but this is not always the case.
Several years ago I had works in an overseas gallery and hadn't checked up on the gallery for a while. I waaited until I went there for a visit and you can imagine my distress to find the gallery no longer there. The owner had apparently shot through, oiwing rent and taking everyones paintings with him - never to be seen again.
So if you have work consigned - check up on it regularly.
Lack of Control
When you consign your work, you often have limited control over how it is marketed and sold. Galleries make decisions about pricing, display, and promotion, which may not always align with the your vision or goals. This lack of control can be a significant drawback for artists who prefer to be more involved in the sales process.
Art consignment can be a valuable opportunity for artists to gain exposure and sell their work without upfront costs. However, it also comes with significant risks, including high commission fees, uncertain sales, trust issues, and the potential for damage or loss.
If you are considering consignment you should carefully weigh these pros and cons and ensure you have a clear and fair agreement with the gallery to protect your interests. Make sure you and the gallery sign a consignment agreement with clear terms and conditions. If they don't have an agreement - you should provide one and make sure you both have signed copies. If they don't want to sign an agreement, I would walk right out the door again. They are not honouring you as an artist and are being very unprofessional. They are not the only guy in town!
By following these guidelines , you can maximize the benefits of consignment while minimizing the potential drawbacks.