The Mona Lisa Painting today, in 2021 is believed to be worth more than $867 million dollars taking into account inflation. The painting was done by Leonardo da Vinci between 1503 and 1506 AD.
The fact that it is considered the most expensive painting in the world today says something about art as business.
Art business is believed to be the business of the company and its subsidiaries in respect of the auction (through live and online auctions) and private sale (including the purchase, sale and consignment) of authenticated fine art, decorative art, jewelry.
Art is a skill or ability of making something beautiful, for instance painting or sculpture produced by a skill.
There is a belief among different societies and in schools that Art is for fun and is not important yet Art is Business.
Art is important in business because it can serve to benefit a business on many levels, especially to the workforce and clients.
Art has an intrinsic value, enabling us to process life on the deepest level. Business personnel’s have used creativity and innovation to make changes to their business and business model; changes which have proved vital to their success.
Art stimulates us creatively, which makes us better, more productive, more entrepreneurial business agents.
In addition, art can also speak to subtly that it forces us to think more deeply, feel more fully, engage more wholeheartedly.
It is important in our country because it documents events and experiences and allows us a richer understanding of history. For example the Mbuya Nehanda statue (sculpture) which was erected in the city of Harare reminds people of Zimbabwean history.
Art reflects cultural values, beliefs and identity and helps to preserve the many different communities that make up our world.
Art is a vitally important economic industry, generating revenue, creating jobs and developing communities, which means art can also affect the industry to some extent.
It is a business because Artists are Business Entities; most artists operate as sole-proprietors.
A sole-proprietorship means that there is one owner and that the income and expenses you incur will directly affect your personal finances. Here are some of the art business ideas that one can venture into; painting, sculpture, basketry, textile design, Graphic designing, Art consultant, Antique curatin, making greeting cards, with the right design and copy, making ceramic ware just to mention a few.
Visual artworks can be sold on consignment, through an auction or dealer, or they can be sold directly to a gallery although each has advantages and disadvantages. However selling on consignment in a public auction typically offers the biggest potential financial reward.
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