20×200 and the Business of Selling Photo Prints as Affordable Art
Since 2007, Jen Bekman’s 20×200 has become one of the leaders in the affordable art arena. Her business has printed and sold more than 200,000 collectible prints by more than 200 artists. ArtInfo writes that the affordable-yet-collectible photography market appears to be heating up:
[...] 20×200 founder Jen Bekman [...] works directly with artists, including established figures like William Wegman and Lawrence Weiner. She splits revenue with them down the middle after allowing for production costs, just as a traditional dealer would. On 20×200, prices range from $24 for an 8-by-10-inch print from an edition of 20 by an emerging artist to $10,000 for an 80-by-60-inch print by photographer Christian Chaize in an edition of two. “When I started, people were very skeptical about how selling a $24 print could be profitable,” Bekman recalls. “In fact a significant portion of our business—about 15 percent—comes from purchases over $500.” All told, Bekman has brought in approximately $15 million in cumulative revenue. Although several years in the red followed a profitable first year, 20×200 anticipates making a profit again in 2013.
Back in February, 20×200 sold $100,000 worth of photography by William Wegman — in a single day!
As the Battle for the Online Art World Sharpens, How the Players Are Adapting [ArtInfo via PotB]
