Felix Salmon » Blog Archive » Art market datapoint of the day | Blogs |
“Interestingly, even at the height of the boom, that $100,000 a month going to Bellwether's artists still works out at only about $5,000 a month per gallery artist — and you can be sure that a couple of the top names got the lion's share. So while the gallerist was making a million dollars a year, a lot of her artists were probably making just a couple of thousand dollars a month.”
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My reading of the numbers is that the gallery grossed about a million a year ($80k/month gross).
The original article said that netted out to $40k (about $500k/year)… but I think “net” is the wrong word here because it is followed by saying out of that came the $10k/month rent. It’s not really net if the expenses haven’t been deducted, so I think that $40k is meant to represent what the gallery retained after a 50/50 split with the artists.
I’m betting $250k/year, not a $1 million, is closer to the mark in terms of the gallery’s yearly profit.
My reading of the numbers is that the gallery grossed about a million a year ($80k/month gross).
The original article said that netted out to $40k (about $500k/year)… but I think “net” is the wrong word here because it is followed by saying out of that came the $10k/month rent. It’s not really net if the expenses haven’t been deducted, so I think that $40k is meant to represent what the gallery retained after a 50/50 split with the artists.
I’m betting $250k/year, not a $1 million, is closer to the mark in terms of the gallery’s yearly profit.
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