The Business of Art: Why Larry Gagosian is My Hero

I can recall a while back when I informed my father I wanted to study art and become an international art dealer and shun the world of computer science, he gave me a look of disgust and said directly to me "boy, there is no money in art. Stick to computers, they are the future. Messin' with art will leave you broke and waste your potential." I can truly say with great pleasure that my dad was dead wrong, and Larry Gagosian is living proof that there is money to be made in art, SERIOUS money. How much, you might say? Well, according to the April 1st article in the Wall Street Journal entitled "The Gagosian Effect",  $1 Billion in sales annually. And with 11 galleries and over 75 world renowned artist as "clients", Larry is showing no signs of slowing down.
And what an eclectic collection he has amounted in over 30 years of buying and selling art-  works from Picasso, Basquiat, Gorsky, De Kooning, Polluck, Sherman, it's like a who's who of contemporary art. And he keeps a business like approach to his Empire of galleries, assigning portfolio managers to his perspective artists and estates of artists. He insists that his managers have a background in banking or financial sales to help maximize the earning potential while at the same time curb the risk of his artists. Like a Wall Street tycoon managing a hedge fund, Larry watches for trends in the art world and pounces when he sees opportunity. He has an uncanny ability to spot talent and get maximum leverage and compensation for that talent, and it is this approach that attracts many artists to his fold, and keeps his potential clients interested in what he deems the next great thing. He has become the E.F. Hutton of the contemporary art world, and when he talks, people listen.

                                                       Larry Gagosian, image from the Wall Street Journal

It is rumored Larry is heavily courting contemporary Chinese artists Ai Weiwei and Zeng Fanzhi, and has been seen talking with Jasper Johns. Very strategic in my opinion, as the aforementioned Chinese artists will bring fresh new works to his Hong Kong Gallery, and Jasper Johns will keep the N.Y. scene chopping at the bit to see lost works from the 80 year old pioneer abstract expressionist. While I in no way imagine I will have the commercial success Mr. Gagosian has amassed in the years, he is an inspiration to me in laying down the foundation and groundwork to establish a successful career buying and selling art.
Until next time-