Why is Fine Art Expensive—Part 2, Skill

We are occasionally asked why fine art is so expensive. People have asked, for example,
“How much does a piece of canvas and a tube of paint cost? It can’t be more than a few dollars for the materials.” There is more to it than materials, however, and I can think of three things. First, running a small business involves overhead; second, making an oil painting requires specialized skill; third, the final product is unique. In part one, I discussed overhead; this post is about the second idea, specialized skill.

Without too much training, most people can cut the grass; those without a college degree can generally learn to clean the swimming pool; and grocers can hire baggers without requiring extensive documentation of advanced skills. Jobs like these often do not pay well because the supply of labor is large (anybody can do it) and the demand is low (I can do it myself). If, on the other hand, you needed brain surgery, you wouldn’t want just anybody doing it. In fact, you would want the best trained and most experienced person you could find. And, you would probably be willing to pay him or her hundreds or even thousands of dollars per hour for that training and experience. In the case of brain surgery, the supply of labor is small (few can do it) and the demand is high (most of us need important medical care at some point).

How does any of this relate to painting landscapes? Like surgeons, painters have a specialized skill; painters are not pool cleaners. Not everyone can do what a painter can do. In fact, very skilled landscape painters, even in southern Utah, are rare. In addition, skilled painters are made, not born. Sure, some people are more “artistic” than others, but good painters work hard and invest significant resources in building their skills. Often, that takes the form of higher education. One of our favorite painters in southern Utah, Josh Baird, has both a bachelors and a masters degree in fine art. In other cases, spending significant time with a mentor is a way to develop the necessary skills. Our friend, Brad Holt, has studied with Jim Jones and has painted perhaps hundreds of paintings over the past few years—effort which is paying off in Brad’s growing reputation.

Someone cutting your grass might expect to be paid, say, $10 per hour. A brain surgeon, on the other hand, might charge one hundred times that. What would you expect to pay a very skilled painter? Is it fair for them to ask $10 per hour? Probably most people would agree to that. How about $20 per hour? How about $60? Valerie has said that she probably has the training and experience of a good plumber. Don’t they charge about $60 per hour? Let’s say it takes her 10 hours to finish a medium sized painting. Is her labor worth $600? Add to that the overhead costs from part one, and you might have an $850 or $900 painting.

Of course, the problem with this line of thinking is that it accounts only for supply, not for demand. What if there is no demand for my art? If there is no demand for me and my lawn mower, am I going to be able to charge $10 per hour? No, I might need to offer lawn cutting for $5 per hour. The reason a top doctor can charge a high rate is that there is typically a high demand for specialized medical care. Why? Because if I don’t get it, I may die. Not so with fine art. If I don’t buy your painting is it going to kill me? Absolutely not.

So, what is the answer, what is the specialized skill of a top landscape painter worth? We think it is fair to ask as much as a plumber might. No shame in that. But, we also realize that fine art is not the same as food and water—or even a working potty. A painting is not necessary for survival. As a result, we recognize that the ebb and flow of demand is the most important factor in what we can expect to earn. During the recent recession, we were willing to work for what a grocery bagger might make. In good times, we might expect to be paid like a plumber. As demand for Valerie’s work increases, however, we might some day dream of being paid like a surgeon. Are you sure you can survive without one of her paintings?