How the art market’s million dollar distortion affects you

The global art market rises and falls on multi-million dollar works but 90% of artworks sell for less than $50,000.
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Image via ​Wikipedia

If you create or deal in art you could be forgiven for thinking news about the decline of global art sales relates to your experience or prospects.

But if your work sells for thousands – or even hundreds of thousands – but not millions, it’s likely the real picture of the market you are operating in is quite different from the art market headlines.

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Gina Fairley is ArtsHub's Senior Contributor, after 12 years in the role as National Visual Arts Editor. She has worked for extended periods in America and Southeast Asia, as gallerist, arts administrator and regional contributing editor for a number of magazines, including Hong Kong based Asian Art News and World Sculpture News. She is an Art Tour leader for the AGNSW Members, and lectures regularly on the state of the arts. She is based in Mittagong, regional NSW. Instagram: fairleygina