Miller, Roger L.
B.S. (Bachelor of Science)
Department of Finance
This work, ''The Design, Development, and Financing of an Art Gallery" is divided into two sections: An Update of The Current art Market And Trend Analysis , & The Development of an Art Gallery And Financial Art Alternatives. The first section tracks some of the recent happenings in the art market, including the unprecedented fluctuations of the 1980's, to provide the reader with a little background on the art market. In addition, it presents the idea of the economic and financial strength of various regions as being the primary reason for art market fluctuations as well as provide a method for tracking the art market. The second section focuses on helping the financial condition of the art gallery. Introduced are different forms of art for showing, most that will appeal to the forgotten middle market, and income alternatives for art galleries such as shops, reselling and digital replication. The summary provided in the text for the second section is as follows: It is becoming all too common for smaller art galleries to fold i because of financial difficulties. Much of the reason for this financial difficulty is based in two factors. The first is these galleries have tied themselves to the cyclical fluctuations in the art market. In other words, they make money when the market is good and buyers exist and do not make money when the market is in a slump. The gallery relies on a big sale to keep feeding off of in hope of another sale in the near future - a very uneven cash-flow. Second, too many galleries are limiting their sales by limiting their markets. In many cases, either forms or mediums of art are left out, or whole markets such as the middle market are left out. For a gallery to keep functioning financially, it needs to get away from focusing its cash-flows on these cyclical revenues as well as look to others forms of art and different markets to increase its bottom line. In lieu of this, I have focused Section II. on How To Develop An Art Gallery by focusing on non-traditional art and financial alternatives for galleries to even out the cash flows of the gallery as well as increase profit margins with the middle market.
Gupti, Kavi, "The Design, Development, and Financing of An Art Gallery" (1991). Honors Capstones. 1132.
Northern Illinois University
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