Luxury Art Marketing

Even as the economy is going through a recession, a market for luxury goods and services still exists. While American consumers are cutting back on extravagant spending, they are not willing to give up on indulgences altogether. It is entirely possible to sell your art in this marketplace even in this current climate, as long as you understand luxe buyers and their behavioral patterns, and can then develop and implement a marketing plan geared toward this audience.

I came across this five-part series on Luxury Art Marketing by Ligaya Figueras and Stan Fine, Ph. D. in Art Calendar, the business magazine for visual artists. I found it fascinating to read. It talks about the business of luxury and how to identify and research your target audience; how to posit yourself as a luxury brand; and how to tap into buyer sentiments, as well as some creative ways to increase your market position.

I especially liked the part about how buyers think and the elements of luxury.