As you may recall, last fall MyArtClub.Com conducted a market survey to assess the “5 Ws” about the art market, meaning the questions “Who”, “What”, “Where”, “When” and “Why”. We felt compelled to learn more about fine art clients for the large part because the answers for many important questions to help artists and art venues build solid business plans are not readily available.

Our report, soon to be released, presents a concise set of findings to assist all participants in the art market. It brings together demographics and personal interests to focus on understanding client preferences to help you target your art markets most effectively.

Key findings include reasons for optimism!

A whopping 98.9% of participants purchase fine art an estimated 1.4 times per year. A huge 78.2% of these clients buy on impulse simply because they love the work. The highest customer preference at 71.2% is to buy directly from an artist to better know the artist and support the artist financially.

The full report is to be out in Fall 2008. As a member of MyArtClub.Com you will have full access to the findings. An interesting summary presentation is also being prepared, with specific actions you and your art groups could take. We would welcome an invitation to present our findings to you and your group in future.

This article first appeared in the My Art News Letter #24