Gallery Price

When you walk into an art gallery, see a wall sculpture by El Anatsui (Ghana) or a painting by a relatively newcomer, photographer Andrew Tshabangu (South Africa) and ask the price. Whether the answer is US$75,000 or US2,500, you have the right to expect that the price is based on actual sales of similar works by that gallery or other dealers or at auction. If it is a reputable gallery, they will be able to discuss why the work is priced as it is. Obviously, there is a profit margin to be considered when a dealer sets the gallery price, but experienced and reputable dealers know that asking a high price for a low-grade painting might draw a crowd and publicity but rarely fools the market.






RELATED SECTIONS:

RELATED GLOSSARY WORDS: