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Concept
Contemporary art gallery
Summary
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.
At the high end of the art market, a handful of elite auctioneers and dealers sell the work of celebrity artists; at the low end artists sell their work from their studio, or in informal venues such as restaurants. In the middle, art galleries are the primary connection between artists and collectors; accounting for the majority of transactions. Point-of-sale galleries connect artists with buyers by hosting exhibitions and openings. The artworks are on consignment, with the artist and the gallery splitting the proceeds from each sale. Depending upon the expertise of the gallery owner and staff, and the particular market, the artwork shown may be more innovative or more traditional in style and media.
There are many operational models that galleries follow. The most common business model is that of the for-profit, privately owned gallery. This is an extremely competitive market but one that may yield great profits. As a general rule, commercial galleries do not charge admission to the public, perhaps in a nod to the egalitarian philosophies of many artists and critics and to encourage attendance, or perhaps in the interests of just good business. Instead, they profit by taking a cut of the art's sales; the exact percentage varies. Some galleries in cities like Tokyo and in New York charge the artists a flat rate per day or per week, though this is considered distasteful in some international art markets. Inevitably the business of contemporary art has in recent decades become increasingly internationalized and commercialized.
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