Saatchi Art up their commission to 40%. What does this mean for you?
Online gallery commissions are heading closer to bricks and mortar gallery commissions. But are they as valuable?
Saatchi Art, the online art marketplace, has just raised it’s commission from 35% - 40%, and artists now get 60%. Keep reading to find out what to do next.
Saatchi Art, "Floral Portrait #8" 2023, Minas Halaj
This is what they have emailed out to artists:
“Saatchi Art has not increased its commission since 2017, but rising operational costs have made it necessary to do so in order to continue to deliver best-in-class services to both our artist community and collectors around the globe. We encourage you to review all your artwork listings before February 20, and consider how this commission increase may affect your professional expenses and update your pricing accordingly.”
Here are some things to consider
Impact on your earnings: You should calculate the impact of the increased commission on your earnings to determine whether you can still make a profit.
Alternatives: Explore alternative online galleries or selling platforms to compare commission rates and determine the best option for your work. For example, Bluethumb, the Australian art marketplace, takes 30% commission.
Reputation and services: When reflecting on the value of an online gallery, consider the reputation, traffic, and commitment to promoting your art. Saatchi outline the services they offer as:
“When you work with us, you get unparalleled access to a global base of art collectors. Our gallery has the most traffic in the online art space, and our commission on artwork sales goes directly to creating the best online platform for emerging artists:
Our team of more than 50 people is devoted to supporting our artists and helping collectors discover and purchase your artwork every day.
We have a dedicated Art Advisory team of more than 15 curators working to source artwork for private collectors in over 140 countries, as well as for hotels, designers, trade associates, corporations, and institutions around the globe.
Saatchi Art is free for any artist to register; we don't demand exclusivity and we are transparent in all our dealings with artists and clients.
Shipping is paid for by the collector and is handled by our specialists, saving you time and money. We handle international logistics from over 110 countries, navigating customs for you so you can focus on making art.
We are the most trusted brand in the online space, having been founded over a decade ago. Our complimentary art advisory and return policy allows your collectors to buy fine art with confidence.
Every year, Saatchi Art spends millions of dollars in marketing and promotional efforts to reach new collectors around the world, including sending more than 500,000 catalogs to collectors this year alone.
Saatchi Art is the only online art gallery that partners with an international art fair, its sister company The Other Art Fair, to present 14 editions across three continents.
Saatchi Art is a proven source for brick-and-mortar galleries to discover artists and offer them representation.
What’s next?
Ultimately, you need to weigh the costs and benefits of continuing to work with a Saatchi after their increased commission and make a decision that is best for your careers and bottom line.
Do you need to focus on other channels?
Our research has shown that one of the biggest assets an artist can have is their own email list. For many professional artists, it is where the majority of their sales come from.
Our recommendations:
Discover your Ideal Art Buyer. This will mean you can target them directly and skip the commissions altogether. Check out the short course.
Grow your email list. Don’t rely of others to market your art. Rather, create the asset that allows you to be self sufficient (and - you guessed it - skip the commissions!). Read the interview with US artist Cat Tesla about this.
Take a portfolio approach to your sales channels, rather than relying on just one channel. This might mean (for example) selling from your email list, through a gallery, an online marketplace, or through interior designers. If one channel makes a change that affects you negatively, then you already have other channels set up that you can turn to. Those channels should help you reliably access your Ideal Art Buyer.
Questions for you to consider
What are the costs of being on an online gallery like Saatchi Art?
What are the benefits to you?
How do they weigh up for you?
Take back control of your art career
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Are you an artist looking to turn your passion into a full-time career? This online course is designed out of findings from a global research project, and provides you with the roadmap you need to transition from a part-time artist to a full-time professional. This art business course includes what actually works and leaves out the time wasting stuff that will keep you in your day job for longer than necessary.