An art agent or "artist's agent" is an agent who represents visual artists. They are also commonly referred to as a "Rep" (short for "representation"), and are similar to talent agents in their business model and function. The agent many be an individual or an 'agency' with multiple agents. The agent functions as a business intermediary to sell the works of an artist, or to otherwise find and negotiate opportunities for the artist. The two parties have a contract worked out, where the agent takes a percentage of sales from any and all works, which may vary, depending on the relationship. Typically the range for a successful non-gallery sale is between 15% and 35% to the agent of the final sales price when the agent is responsible for bringing a buyer. Arts sales made at a Gallery are often split 50/50 between the artist or Trust and the Gallery.
Except of for exceptional situations with very famous artists, an art agent will represent numerous artists at the same time - often as many 100 or more per agent or agent firm. They will often develop relationships with buyers who need to continuously purchase art, like book publishing companies and advertising agencies. It is in the art agent's best interests to sell the works of the artist. The relationship is seen as a win-win for both the artist and the agent.
Many professional buyers will only work with an art agent since they can be expected to already understand the business, pricing, and contract negotiation.
Many unrecognized artists, no matter how talented, may find it hard to find an art agent willing to represent them. Art agents select their artist not based on their talent but the likelihood their works will sell. [original research?][citation needed]
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Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale.
A real estate agent or broker is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency. Many states require written disclosures to be signed by all parties outlining the duties and obligations.
A talent manager is an individual who guides the professional career of artists in the entertainment industry. The responsibility of the talent manager is to oversee the day-to-day business affairs of an artist; advise and counsel talent concerning professional matters, long-term plans and personal decisions which may affect their career.
Stock and station agencies are businesses which provide a support service to the agricultural community. Their staff who deal with clients are known as stock and station agents. They advise and represent farmers and graziers in business transactions that involve livestock, wool, fertiliser, rural property and equipment and merchandise on behalf of their clients. The number and importance of these businesses fell in the late 20th century.
A talent agent, or booking agent, is a person who finds jobs for actors, authors, broadcast journalists, film directors, musicians, models, professional athletes, screenwriters, writers, and other professionals in various entertainment or broadcast businesses. In addition, an agent defends, supports and promotes the interest of their clients. Talent agencies specialize, either by creating departments within the agency or developing entire agencies that primarily or wholly represent one specialty. For example, there are modeling agencies, commercial talent agencies, literary agencies, voice-over agencies, broadcast journalist agencies, sports agencies, music agencies and many more.
Flipping is a term used to describe purchasing a revenue-generating asset and quickly reselling it for profit.
A listing contract is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property.
Consignment involves selling one's personal goods through a third-party vendor such as a consignment store or online thrift store. The owner of the goods pays the third-party a portion of the sale for facilitating the sale. Consignors maintain the rights to their property until the item is sold or abandoned. Many consignment shops and online consignment platforms have a set day limit before an item expires for sale.
A buyer brokerage or buyer agency is the practice of real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller either directly or as a sub-agent. In the United Kingdom and Australia, the most common term is buying agent.
An art dealer is a person or company that buys and sells works of art, or acts as the intermediary between the buyers and sellers of art.
Sales outsourcing refers to indirect sales process through which the seller sells products or services to buyers while making some profits.
A contemporary art gallery is normally a commercial art gallery operated by an art dealer which specializes in displaying for sale contemporary art, usually new works of art by living artists. This approach has been called the "Castelli Method" after Leo Castelli, whose success was attributed to his active involvement in discovering and promoting emerging artists beginning in the late 1950s with Jasper Johns and Robert Rauschenberg.
Sub-agent (Sub-agency) is a real estate term in the United States and Canada describing the relationship which a real estate broker and his/her agents have with a buyer of a business, home, or property.
Associated American Artists (AAA) was an art gallery in New York City that was established in 1934 and ceased operation in 2000. The gallery marketed art to the middle and upper-middle classes, first in the form of affordable prints and later in home furnishings and accessories, and played a significant role in the growth of art as an industry.
An online art gallery is an online version of a contemporary art gallery.
Art valuation, an art-specific subset of financial valuation, is the process of estimating the market value of works of art. As such, it is more of a financial rather than an aesthetic concern, however, subjective views of cultural value play a part as well. Art valuation involves comparing data from multiple sources such as art auction houses, private and corporate collectors, curators, art dealer activities, gallerists, experienced consultants, and specialized market analysts to arrive at a value. Art valuation is accomplished not only for collection, investment, divestment, and financing purposes, but as part of estate valuations, for charitable contributions, for tax planning, insurance, and loan collateral purposes. This article deals with the valuation of works of fine art, especially contemporary art, at the top end of the international market, but similar principles apply to the valuation of less expensive art and antiques.
A reverse auction is a type of auction in which the traditional roles of buyer and seller are reversed. Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by offering increasingly higher prices. In contrast, in a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.
There are many types of e-commerce models', based on market segmentation, that can be used to conducted business online. The 6 types of business models that can be used in e-commerce include: Business-to-Consumer (B2C), Consumer-to-Business (C2B), Business-to-Business (B2B), Consumer-to-Consumer (C2C), Business-to-Administration (B2A), and Consumer-to-Administration
The art market is the marketplace of buyers and sellers trading in commodities, services, and works of art.
An art gallery is a room or a building in which visual art is displayed. In Western cultures from the mid-15th century, a gallery was any long, narrow covered passage along a wall, first used in the sense of a place for art in the 1590s. The long gallery in Elizabethan and Jacobean houses served many purposes including the display of art. Historically, art is displayed as evidence of status and wealth, and for religious art as objects of ritual or the depiction of narratives. The first galleries were in the palaces of the aristocracy, or in churches. As art collections grew, buildings became dedicated to art, becoming the first art museums.
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