The art world may be awash in money, but for most practising artists the reality is less than glamorous. Even with the advent of NFTs, it seems that creating art is by-and-large a difficult way to make money.
Enter Magnus Resch, art market economist, entrepeneur and author of How To Become a Successful Artist, a new book determined to do away with the stereotype of the starving creative.
“In my book I identify the key factors that lead to financial success,” says Resch. “It’s a book for artists of all levels and mediums, seeking commercial success or thriving to navigate the art world.”
Below are some simple rules that Resch advises every artist puts into practice:
1) Your art is great! Your art should be in the MoMA. Good art and bad art don’t exist. Only bad marketing. I help you develop a marketing plan in 3 simple steps.
2) Don’t send emails to info@ or visit the galleries to find gallery representation. Follow my execution plan and you will find a gallery without ever reaching out to a gallerist again.
3) The classic combination of art, romance and poverty is highly overrated. Be entrepreneurial, be professional. And above all, have a business plan. I will explain to you how to create one in less than 10 minutes.
4) Instagram is the number one platform for showcasing your art. Follow my instagram strategy and build an online presence that sells.
5) Sign contracts. Handshake deals will lead to problems. Guaranteed. My book includes contracts that manage your relationship with gallerists, collectors and museums – realistic, with simple words and applied on a daily basis by my students.
• How To Become A Successful Artist by Magnus Resch is published by Phaidon, £19.95 (phaidon.com)
