Making Money as an Artist: Tips, Examples & Benefits

Introduction

Making money as an artist is a dream for many, though it isn’t always easy to achieve. This article will explore the various options available to artists who are looking to monetize their work, from selling original artwork to commissioning art projects. We’ll also provide tips, examples and benefits for each of these approaches, so that you can find the best fit for your own artistic goals.

Selling Original Artwork

The most obvious way for an artist to make money is by selling their original artwork. According to a survey conducted by Artsy, 74% of artists reported that they had sold work in 2017, with the average sale being $1,764. Selling artwork directly may offer greater stability than other forms of art income, since it eliminates the need to depend on third-party buyers or licensees. It also gives the artist complete control over pricing.

Benefits of Selling Original Artwork

The biggest benefit of selling artwork directly is that it allows the artist to maintain control over the sale process. They have the freedom to choose when and where to sell their work, as well as how much they want to charge for it. This means they can set prices that reflect the value of their work and maximize their profits. Additionally, direct sales often result in stronger relationships with customers, which can help the artist build a loyal customer base.

Tips for Pricing Artwork

Pricing artwork can be tricky, as there is no single formula for determining the right price. However, there are some general guidelines that can help. First, consider the cost of materials used to create the piece, as well as the time and effort required. Also take into account the demand for the piece, as well as the market value of similar works. Finally, don’t be afraid to experiment with different price points to see what works best.

Examples of Successful Artists Selling Their Work

There are many successful artists who have made a living by selling their work. For example, painter Bob Ross earned millions of dollars in his lifetime by selling his original paintings. He was able to do this by building a strong brand and cultivating a large following. Similarly, photographer Annie Leibovitz has built a successful business by selling her photographs directly to collectors and galleries.

Licensing Artwork for Merchandise

Licensing artwork for merchandise is another way for artists to make money. This involves granting permission to companies to use an artist’s work on products such as t-shirts, mugs, and other items. According to a report from The NPD Group, licensed merchandise sales totaled $13 billion in 2018, showing that there is a large potential for growth in this area.

Benefits of Licensing Artwork for Merchandise

Licensing artwork for merchandise allows artists to reach a larger audience and generate passive income. It also allows them to tap into existing markets for products, rather than having to create their own. Additionally, licensing artwork can provide more stability than other forms of art income, as royalties are typically paid out on a regular basis.

Tips for Finding and Negotiating With Licensees

When searching for licensees, it’s important to do your research. Look for companies that align with your values and aesthetic, and be sure to read through any contracts carefully before signing. When negotiating terms, remember that you have the power to dictate the terms of the agreement, so don’t be afraid to ask for what you want. Finally, make sure you understand the payment structure and any restrictions that may be in place.

Examples of Artists Who Have Successfully Licensed Their Artwork

Many artists have been able to make money by licensing their artwork for merchandise. For example, street artist Banksy has successfully licensed his work for products such as phone cases and skateboards. Pop artist Andy Warhol also famously licensed his work for products such as umbrellas and scarves. Both have been able to capitalize on their popularity and use licensing to reach new audiences.

Teaching Art Classes

Teaching art classes is another option for making money as an artist. This involves offering lessons or workshops to students who want to learn about art. According to a survey by the Craft & Hobby Association, 50% of adults in the U.S. have taken an art or craft class in the past year, so there is clearly a demand for this type of instruction.

Benefits of Teaching Art Classes

Teaching art classes can be a great way to make money, as it allows the artist to share their knowledge and experience with others. Additionally, it can provide a steady source of income and help the artist build a network of contacts. Teaching also provides an opportunity to interact with students and help foster creativity in the community.

Tips for Setting Up and Advertising Classes

When setting up and advertising classes, it’s important to think about who your target audience is and what type of class you want to offer. Consider the type of material you’ll be covering, the length of the class, and the cost. To advertise your classes, post on social media, create a website, and reach out to local art galleries and organizations. You can also consider partnering with other teachers or businesses to offer discounts or special packages.

Examples of Successful Art Teachers

Many artists have been able to make money by teaching art classes. For example, abstract painter Mark Rothko taught art classes at the Pratt Institute in Brooklyn for several years. Similarly, illustrator and author Jarrett Krosoczka teaches a popular online video course called “Creating Comics and Graphic Novels.” These examples show that it is possible to make a living by teaching art.

Performing Live Art Exhibitions

Performing live art exhibitions is another way for artists to make money. This involves creating art on the spot in front of an audience. This type of performance art has become increasingly popular in recent years, with many artists using it as a way to showcase their talent and engage with fans.

Benefits of Performing Live Art Exhibitions

Live art exhibitions can be a great way to make money, as they typically involve a fee for admission. Additionally, they provide an opportunity for the artist to connect with fans in person. Live performances can also be a great way to promote the artist’s work and gain exposure in the art world.

Tips for Successfully Preparing and Executing a Show

When preparing for a live exhibition, it’s important to plan ahead. Think about the type of artwork you want to create and the materials you’ll need. You should also consider the size of the space you’ll be working in and the amount of time you’ll have to complete the piece. When executing the show, make sure to engage with the audience and explain the creative process. Finally, be prepared to answer questions and accept feedback.

Examples of Successful Live Art Performances

Many artists have been able to make money by performing live art exhibitions. For example, graffiti artist Risk has gained notoriety for his live painting performances around the world. Similarly, street artist Alec Monopoly has gained fame for his live shows, which often feature him painting images of iconic characters such as Mickey Mouse and the Monopoly Man.

Selling Prints of Artwork

Selling prints of artwork is another way for artists to make money. This involves creating reproductions of original pieces, which can then be sold to customers. According to a survey by the Craft & Hobby Association, 45% of adults in the U.S. have purchased wall art in the past year, showing that there is a strong demand for prints.

Benefits of Selling Prints of Artwork

The biggest benefit of selling prints is that it allows the artist to reach a wider audience. Prints are usually less expensive than originals, so they appeal to customers who may not be able to afford an original piece. Additionally, prints can be produced quickly and in large quantities, which makes them a more efficient way to generate income.

Tips for Producing Quality Prints

When producing prints, it’s important to use high-quality materials and printing techniques. Consider the type of paper or canvas you want to use, as well as the type of ink or dye you’ll be using. You should also make sure to check the sharpness and clarity of the image before printing. Finally, make sure to package and ship the prints securely so they arrive in perfect condition.

Examples of Successful Print Sellers

Many artists have been able to make money by selling prints of their artwork. For example, illustrator Lisa Congdon has built a successful business by selling prints of her illustrations. Similarly, photographer Scott Kelby has created a thriving business by producing high-quality prints of his photographs.

Commissioning Art Projects

Commissioning art projects is another way for artists to make money. This involves working with clients to create custom artworks for specific purposes. According to a survey by the Craft & Hobby Association, 29% of adults in the U.S. have commissioned artwork in the past year, showing that there is a strong demand for this type of service.

Benefits of Commissioning Art Projects

Commissioning art projects allows the artist to explore new ideas and collaborate with clients. It also allows them to set their own rates, giving them the freedom to negotiate for higher fees if desired. Additionally, it provides an opportunity to build relationships with clients, which can lead to repeat business and referrals.

Tips for Finding and Working With Clients

When searching for clients, it’s important to identify your target market and create a portfolio that showcases your work. Networking and word-of-mouth referrals can also be helpful. When working with clients, it’s important to listen to their needs and develop a clear understanding of the project requirements. Additionally, make sure to discuss deadlines and payment upfront to ensure that both parties are on the same page.

Examples of Successful Commissioned Projects

Many artists have been able to make money by commissioning art projects. For example, sculptor Anish Kapoor has created custom sculptures for public spaces such as parks and museums. Similarly, muralist Kelsey Montague has been commissioned to paint murals for commercial spaces such as hotels and restaurants. These examples show that it is possible to make a living by commissioning art projects.

Conclusion

Making money as an artist is achievable, though it requires hard work and dedication. This article has explored some of the ways artists can monetize their work, including selling original artwork, licensing artwork for merchandise, teaching art classes, performing live art exhibitions, selling prints of artwork, and commissioning art projects. By understanding the benefits, tips and examples of each approach, you can find the best fit for your own artistic goals.