How Do You Get People To Invest In Your Art?
There is no denying that getting started as an artist can be tricky, especially if you are looking for people to invest in the creations you bring to life. With a growing number of investors diversifying their portfolios to include artworks, learning how to grab the attention of investors can be a useful skill to learn. This article will take a closer look at the things you need to do to achieve this.
Find Your Speciality
When it comes to investing, the advice is often to find a particular specialty and stick with it. The same can be said for artists – though your artistic talents may span a wide range of options, it is a good idea to find one specific medium, style, or subject, and then stick with it. This makes you more appealing to collectors and investors, who will be more likely to collect the ‘set.’
Remember that while as an artist, it is important to follow your own creativity and passion, when you are specifically trying to attract investors it can be useful to instead start thinking like a business owner. This could mean going with what you believe the market wants, and creating something that you know is in demand. The downside to this is that you have a lot of competition, so your standards need to be high. Alternatively, you can create something brand new and innovative, in the hope that investors will be attracted to the start of a new trend. While risky, this does mean that you will have less competition to deal with.
Create Your Work
While it is possible to attract investors with a single piece, this is very rare. As a rule, you will need to have a good portfolio of work available, even if you are not extremely established, before people will start taking an interest. While you are busy networking and building your brand, make sure that you are also actively working on creating new pieces to appeal to customers and investors.
It may sound like a cliche, but the value of networking must never be underestimated – this is likely to be the secret to your success. Remember that each and every person you meet could be a potential buyer or investor, or might have the connections to refer and recommend your work to others. Be polite and respectful to each and every person you meet, and always be excited and enthusiastic when discussing your work – if you don’t believe in yourself, then why should anyone else? Make sure that you are a frequent visitor to art galleries, auctions, exhibitions, and art fairs, both as an artist and an observer, to help get your name and face on the circuit and engage with as many people as you can.
This is also a great opportunity to get your work in front of as many people as possible; make sure that you have links to your portfolio, samples of your work, and your contact details available – and never underestimate the usefulness of a good old fashioned business card. This is a chance to be creative and innovative – why not use a business card to show off a sample of your work, or to encourage the viewer to look at your pieces more closely. By making yourself memorable, you increase your chances of an investor taking an interest in your work.
Pick Your Pricing
The art market has changed in recent years, particularly with regard to budgets. While once customers were only interested in high-end pieces – with a price tag to match – there are now a wider variety of potential investors, meaning that the artist has greater freedom in how they price their pieces. The chances are that you should expect to have to readjust the prices of your pieces several times before you enjoy success, especially in the early days, and it is useful to do your research. Take a look at the sorts of prices your peers and contemporaries are selling their work for, and put yourself in the game.
The art market can be a tricky one to navigate, and it is easy to find yourself inadvertently pricing too low or too high. Ultimately, most people buy the artist, not the artwork. This leads us to…
Build Your Brand
If you want investors to believe in you, you need to have a brand as the majority of investors are unlikely to pick a piece by an unknown artist. The key here is to develop your own unique, recognizable style, to help you instantly stand out in a crowded market for all the right reasons. Hone your skills and build your confidence to allow you to create high-quality artworks that are instantly, recognizably ‘you.’ This will help your future customers get used to your design, and hopefully fall in love with it.
Once you have a distinctive style, you need to make sure that people know about you and know where to find you. Build your social media channels, and make sure that they are projecting the right image, and that they maintain an up-to-date record of your work. Your images should be of the highest possible quality, and pieces should be presented professionally, such as on a clear, white background. Be smart with the pieces you present in your portfolio – these should show you off in the best possible light, and make potential investors want to see more. You should also include essential details such as the size, availability, medium, and availability of each of the pieces in your collection. You can use an external inventory management system such as Artwork Archive to help manage this area if business is not your strong suit.
In some cases, you will be responsible for packaging, sending, and delivering your art, rather than leaving this to a gallery or auction house. If these responsibilities fall to you, then make sure you are the utmost professional at every stage – you may be a creative artist, but you also need to ensure that you are a shrewd, professional business owner in your approach to sales. You should also spend some time thinking about the possible questions you may encounter from customers and have the answers in advance – this may include concerns over the best way to hang the piece, maintenance, and customization or alterations. This not only helps you to look more professional, but it also increases the speed of the potential sale.
Choose Your Audience
Another way to increase your chances of a successful investment opportunity is to make sure that you are pitching your work to the right audience. Consider the aesthetics of your art – who is the best audience to enjoy it? Where would it hang and look amazing? Are you planning to target corporations or private individuals? What benefits will your art have on the environment? Having the answers to these questions, or at least having considered them on a general level, will allow you to target your pitch to those who are most likely to make an investment, and this is useful in saving your own precious time. This will also impact your marketing strategy – not all target audiences will benefit from the same technique, so knowing who to target is helpful.
Consider Engaging An Expert
In some cases, having an expert art consultant on your side can be a useful way to appeal to investors. These professionals work with a range of clients, including collectors and large corporations, to find the perfect piece to fit their space. This means that they are great contacts for artists, as they can find someone who is the perfect match for your style and work. Working with an art consultant can also be a great way to outsource administrative issues such as payment, transportation, arranging insurance, and hanging the piece. In many cases, your consultant will take care of these issues in exchange for a commission fee.
Finding the right investor for your art can be a challenge, and it is important that you approach the situation as a business transaction as much as possible. In order to successfully sell your art, you need to go into it with the right mindset – this can be tricky if you are feeling vulnerable after exposing your art. Be patient, understanding, and open to feedback, and you could find yourself matching with the perfect investor and building a working relationship that benefits you both for many years to come.