It has been quite a while since I have blogged, so I figured it's time to get busy. 2010 has been an absolutely amazing year, breaking all of our expectations for the first year of Maresella Galleries being open. There were several things that became apparent rather quickly, and the economy topped the list. At the end of 2008, when the economy was thrown in a tail spin, all bets were off. Paintings that sold at premiums no longer did, collectors who purchased once a month, no longer did. The art market, stock market, housing market, and many other markets were changed. In order to be successful today, I believe you have to ride the fine line of pricing properly. There are still buyers in the market to purchase paintings, you just need to find them. What I have found is that the artists who have recognized the weakness and priced accordingly, have sold like hotcakes.
I get asked all the time what Maresella Galleries has done differently than other galleries to make us successful. My answer to the them is that there are no hard and fast formulas but number 1 you have to have a passion for what you do. We have built our client base while keeping in tune with the economy and overall maket conditions. I feel that right now there is a huge opportunity for collectors to build their collection at great prices. Artists who are priced right have the opportunity to increase their footprint and be well positioned for a recovering ecomomy. Eventually, those who have held off purchases will jump back in, I just don't think we will get back to the way we were pre 2009 any time soon.
I am excited for 2011, and we are off to a great start. Yesterday at the gallery, a couple walked in and purchased a 9x18 Sosnowski painting fresh of the easel. Another client came in and took home 3 12x16 Jay Brooks paintings. All paintings were priced right and the clients were absolutely pleased.
Maresella Galleries will be adding several new artists in 2011 and already have a 1 person show for Dennis Sheehan in the works. I will continue to give my thoughts and ideas on the art market through this blog and work on a new project this year which will focus on bring the contemporary tonalist artists together.
