Before I tell you a story about how just one piece of artwork created over 15 years ago continually and regularly brings me $3,000 every year I would like to ask you a question.
Have you ever wondered how you could be capitalizing on your art talents in way that could generate some extra income for you and your family?
I certainly have as a veteran artist of some 25 years, creating and selling art across the globe, have at times wondered if there were any ways to actually sell my art that would keep on bringing me income long after I have finished my artwork.
The times when my income has dropped for whatever reason, recessions, global financial crisis or just general market dips, have been testing times and have forced me to “think outside the square”. After careful research along with some trial and error, I have come up with 3 sure fire ways to make money from your art, that are bound to help you if you put them into practise.
#3 Smart Ways To Make Money From Your Art
1. Sell your art online and have royalties come in for years to come
2. Sell your art tution to students willing to learn “how to…”
3. Other people sell your art & art tuition
So how is it done?
#1 Sell your art online – collect royalties for years.
This is my preferred Smart Way No#1 as it has a payoff that just keeps coming, for me personally 4 times a year I receive a royalty check for work done over 10 years ago. This is a very smart way to make lots of money from your artwork, but you have to know what you are doing before you can guarantee success with this method.
Who Will Pay For My Artwork? What are the Markets? First and foremost you need to work out which markets are going to be interested in your artwork. Do you like to paint landscapes? Or animals? Or cartoon characters? Or Cars & Bikes? Or Nudes? Or abstract? Or caricatures?
Each of these have different markets that can be exploited for royalties for years to come. Some of the distributors of such art are: jigsaw puzzle companies, computer and cell phone wallpaper companies and homewares companies, are 3 goldmine areas to explore. Each of these different markets rely on fresh and inventive artists like yourself to come up with more “PRODUCTS” for them. That is right, you are the product creator, they are the marketers. That is how it works.
Let me give you an example:
Several years ago I was approached by a jigsaw company in Australia “Blue Opal Jigsaws” and asked if a piece of artwork I had already made for a former client who allowed me to retain copyright of the original and profited from, could be reused for a new jigsaw they had planned.
After careful negotiations I was offered $1,500 for some slight modifications to the artwork and a 7% royalty, payable quarterly for the life of the product.
I currently receive approximately $3,000 annually from this one puzzle that keeps on selling over and over. I will give you a hint – it is in the souvenir/tourist category (this market never gets tired of buying your product, because they are a new breed every year, as most people take that big overseas holiday perhaps just once in their lifetime and so they want something classic to remember their trip by) which is the perfect market for a repeat sale of your product. You don’t want to choose something that is contemporary if it is longevity is your aim, as it will eventually lose steam and fade out of existence.