A young entrepreneur is considering options for starting an art car dealer. Everyone has some common-sense understanding of what an art gallery is, yet very few have realized how competitive the art market is and what it requires to succeed in that sector. The cost of a painting can be anywhere between $50 and $500,000, and that cost generally does not predicate on the objective properties of the artwork itself. This really is where the art dealer plays a significant duty.
The budding entrepreneur has to make strategic decisions concerning which segment of the art market to serve (high or low brow?), where to begin his company (mid size hometown or big city?), the way to distribute the artwork to market (by opening a traditional art gallery, by partnering with retail locations such as restaurants to place the artworks on display or by arranging temporary exhibitions in leased spaces) and whether he should partner with a local arts group.
PUBLICATION DATE: June 21, 2013 PRODUCT #: W13283-PDF-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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