We used to differentiate art by the brush strokes. The detail also played a role. Another factor was the realistic nature of the piece. Now we see contemporary blobs of color. These artworks are auctioned off for tens of millions of dollars. Most of us say, “What is the auction house /art gallery thinking?” We are left asking ourselves, is this piece really extraordinary? Is there an intense amount of precision and detail? What was the artist thinking, and why would anyone in their right mind pay that amount for this?
In the past, with art like Rembrandt, for example (or the entire Renaissance period), we could differentiate genius from mediocrity. This differentiation was based on the quality of their brushwork. It also considered the blending of colors and how the painting represented a realism that almost made it photographic. But then cameras were invented, and realism became standard practice in art with much less effort.
It seems as if artists were lost for a way to differentiate themselves. Simplicity and abstraction became a new standard. Even then, it was hard to tell which piece should be worth more. Artists like Andy Warhol used simple colors and basic silk screening. They were celebrated as geniuses, while many artists considered their works like garbage.
Much of contemporary art is, in many ways, “immeasurable”. Jackson Pollock dripped paint on canvas. Especially creative and revolutionary for its time, but is revolutionary the same thing as talent? The art market is peculiar. It operates in an economic model that considers more than supply and demand. Art is bought and sold for values based not only on a work’s perceived cultural value. Its past monetary value and its predicted future value also influence it.
The primary market is where a piece of art is first sold. This can happen directly from the artist, a dealer, or through commissioned work. This initial sale is crucial because the pricing sets the stage for the future value of the artwork. Key players in the primary art market are established galleries. Emerging artists depend on galleries to showcase and sell their creations, benefiting from these establishments’ existing networks of art enthusiasts. Galleries play a crucial role as intermediaries, introducing them to potential buyers. Don’t be fooled, as most artists are taken advantage of by these galleries. They bid low and sell high. Or in many case,s ultimately take 75%~90% of the actual value one way or the other.
In the primary art market, the reputation and recognition of the artist are crucial. Well-established artists have a higher demand for their artworks. They usually possess a strong portfolio and a track record of successful exhibitions. Art collectors and buyers are influenced by current artistic movements, popular themes, and emerging artists. The preferences and tastes of collectors can shift over time, leading to fluctuations in demand for certain types of artwork.
Currently, Dowling’s art and style are in very high demand. His last piece sold for over $85,000. His last client spent almost $200,000 to decorate one room in their home gallery. Dowling’s art has the potential to reach hundreds of thousands or millions of dollars for each piece.
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