by David Chapman
Staff Writer
Stocks have a market. Real estate has a market. Oil has a market. Even the automobile industry has a market.
All four are examples of markets affected by the ebb and flow of the economy and consumer confidence, and like them there’s another – albeit less formal yet more creative – market out there affected by the results of the economy, too.
Unlike the others, though, there is no standard figure, no real statistic to show how good or bad its market is as worth is based on each individual and the eye of the beholder.
It’s the art market.
And while Jacksonville’s art scene and artists continue to emerge and become established, many have felt at least a slight pinch from the down economy, depending on who one asks.
“It’s really been affected,” said Leigh Fogle, owner of Fogle Fine Arts & Consulting. “It’s been tough to see ... not just here, but I’ve seen a lot of galleries around the country closing.”
Like the stock market, Fogle said art sales can greatly fluctuate from one moment to the next. She said that while the retail side of arts sales “haven’t been the best,” she credits her company’s diversification in providing art and consulting at a corporate level – especially in the health care profession – across the country. Though she’s had to cut back hours tremendously on the retail side, the corporate side has led to a very successful 2009.
She isn’t the only one looking more at the corporate world to bolster success.
“Prior to 2008, it was 20 percent of our business,” said Jennifer Jones, owner of R. Roberts Gallery in Avondale. “We hope to even the scales and increase our corporate art and framing sales to 50 percent of our business come 2010.”
Jones agreed that the art business has been affected by the down economy, but also said it’s resilient.
“I liken the business right now to being ‘The Little Engine that Could’,” said Jones.
Jackie Stephens joined R. Roberts Gallery in March as a corporate art consultant and like others, agreed that like the works themselves, buyers on the retail side are individual, too.
“Art is still going to be an emotional buy for people,” said Stephens. “It’s bought with discretionary income, but a person sees a piece they fall in love with, it has a very powerful effect.”
Like Fogle, Jones credits the diversification of her business for success in the downturn, but added that it’s helped her think differently.
“This economy has inspired me to get out of the box and try daring or highly personal ways to reach people,” said Jones. “They’re working and are increasing my own job satisfaction.”
Just down the road in Avondale from the R. Roberts Gallery, things have been steady for Brad Trader, owner of the Avondale Gallery.
“I’d say they’ve been pretty consistent with last year and the year before,” said Trader.
He’s seen and heard of other galleries struggling, but credits his price point – between $500 – $3,000 per work – loyal customer base and artistic workshops for success and believes galleries that do survive will be much better as a result.
Members of the Art Cooperative Center, a nonprofit corporation that aims to grow the Jacksonville art industry, have seen how the economy affects artistic spending.
“Arts suffer a lot,” said Michael Cenci, a photographic artist and one of the 25 artists who make up the group. The group has galleries at two Downtown locations, one at both 31 W. Adams St. and 111 E. Bay St., and though foot traffic has been fairly steady, said Cenci, another member thinks the traffic – and market – could be better.
“It’s a little bit slow,” said Elaine Bedell, a visual artist. “Most people just don’t know we’re here.”
The organization’s current focus is on smaller pieces – ones that could have a better chance of selling due to a generally lower price point – but Bedell said that the current economic conditions make it a better time than ever to invest in works.
“Now is a good time to pick up a piece that’s going to increase in value down the road,” she said.
Artists generally price their works themselves, said numerous artists, but while conditions might be more conducive to negotiating a price, don’t expect a closeout sale.
“Some of them are (open to negotiating prices) and some of them aren’t,” said Fogle, who said it depends on the artist mentality and later added: “Often, it’s not like you can come in with a fire sale mentality.”
Jones said the economy has meant artists are maintaining instead of increasing their price points. If galleries don’t set prices, she said, generally it’s a philosophy of marking up works initially and then discounting them later or offering them at retail price and sticking to it. She’s a fan of the latter, and while negotiating isn’t an art she’s good at or fond of, she doesn’t discourage clients from asking.
“You never know unless you ask,” she said.
Like many businesses, the biggest boost to the art market will be the result of one major shift.
“It’s just the economy,” said Cenci. “It just has to get better.”
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