Is your art recession proof? Are we on the verge of another bubble? Does it even matter?
It’s the question on a lot of artists and fine art galleries’ minds. Is the artwork you sell recession proof? The economic crash in 2008 put a lot of companies out of business. Will this happen to yours if another big crash hits?
By reading this here, you’ve already proved that you’re interested in constantly reading and staying ahead of the sales game. You strive to be the best. To be constantly learning and getting better. There are new sales tactics and business strategies to discover every day.
If your business is doing well because you’re working hard and coming up with new traffic generating and sales ideas, then your business won’t fail just because the economy turns. People will buy high-end art in a good economy and a bad economy. There will always be wealthy people who need to decorate their homes. They’re not going to turn to buying cheap Pier 1 prints, just because other people are worried about their money.
So now you know that your niche clientele will always be around, are you still worried? You already have a large collector base built up. Your business succeeds because you are constantly contacting this collector base and keep up to date on your gallery. They come to events, they visit when you have a new collection, you call when it’s their birthday. They’re a part of your family. And if you let them, they’ll continue to support you.
It’s rash to assume that one major event like the crash of the economy in 2008 will lead to the crash of your particular business market. If that fear causes you as the owner or art director to become depressed, worried and idle, your business will fail not because you don’t have a new customer base but because you stopped working hard. You let things fall through.
Work hard and your business will work hard for you.