How Much Money Do Contemporary Artists Make?

In an industry marked by both financial discretion, multi-million dollar headlines, and the idea of the “starving artist,” answering the question of how much money visual or contemporary artists make seems next to impossible or is destined to be followed up by an unsatisfying answer. Therefore, in this article, we will be unveiling the financial realities of artistry, discussing the art of earning, combining research data, in-field experience, and various art market studies, settling the debate about colors and cash, brushstrokes and bankrolls, or masterpieces and money.

As an artist, you are one of many suppliers providing art—hoping it will circulate within the art market and the art world: from private collectors who want a painting they love above their couch, to corporate investors who want to diversify their portfolios with art, to galleries that aim to present the avant-garde of today, and institutions that wish to participate in a broader dialogue about art, culture, and society; these individuals and organizations create the demand for art. However, when the supply becomes much greater than the demand, you, as the artist and supplier, are not in a favorable position. And this is precisely what happens in the art market today: an enormous supply of art and a minimal demand, resulting in a ratio so off-balance that it can hardly be compared with any other market, product, service, or good on the planet. To make matters worse, art is—in most cases—a lasting product. Therefore, it can occupy a collector’s wall for the entire lifespan of the collector, and then of the next owner, and the next after that. So, how big is the supply exactly? Even though numerous data experts have tried to come up with an exact number, the definition of an artist can be interpreted in different ways—for instance, in the broadest sense, as any creative individual who makes something, or more specifically as someone who participates and exhibits within the art world system, practicing one of the main artistic disciplines such as painting, sculpture, works on paper, installation, performance, photography, or video. Therefore, the best we can do is provide an educated guess based on existing research.

Leading data expert Magnus Resch estimated that there were around one million artists, based on the 180,000 registered artists exhibiting in for-profit and non-profit institutions in 2021.¹ However, today we have approximately 1.2 million registered exhibiting artists.² Following the same logic with these updated numbers, we arrive at an estimate of approximately five to six million artists today. Considering there are 2.67 million graduated artists in the U.S. workforce³—and even though the U.S. is the most significant player in the art market, responsible for approximately 40% of the total value of sales⁴—the number of unregistered and unexhibited artists worldwide is most likely a multiple of that figure, sitting between approximately 15 and 30 million artists worldwide. If these artists create, on average, 25 works every year, the already tremendous supply of art increases annually by 375 to 750 million artworks. On the other hand, while all artists produce several works per year, 99% of all collectors are one-time buyers, with about 40 million artworks sold annually⁵—predominantly works by the same artists already within the art world system—with only around 6,000 collectors spending more than $100,000 per year on art.⁶ 

These numbers naturally result in the bulk of art remaining unseen and unsold. This is not the art world’s fault; it is simply a logical outcome, as people are more interested in creating and selling art themselves rather than seeing or collecting it. Some create out of vanity, seeking a lasting legacy; others are drawn by the money and the staggering prices achieved at auction; some people are attracted to the high-society lifestyle of the art world and its perceived status; while many create simply because it is one of the most rewarding and enjoyable things to do—an act of self-development, self-reflection, therapy, catharsis, or intellectual and spiritual growth. The latter is what drives truly successful artists, and it can eventually result in the other aspects mentioned above. Those who pursue commercial purposes often fail sooner or later, as they eventually fall through the cracks or cannot sustain the passion and sacrifice required. Those who pursue artistic purpose, however, are often the ones who end up becoming commercially successful. Because before being able to contemplate any sort of legacy, you will have to work for years in obscurity. Before making your first sale or turning a small profit, you will likely operate at a loss, investing in yourself and your practice without any guarantee of return. Before you can raise a glass of champagne at the opening of your first gallery show, you will spend countless days and nights working in isolation and silence in your studio. That is the sacrifice one has to make—and it can only be made when your intentions toward your art and career are genuine and for art’s sake.

However, being an artist is not all doom and gloom, as if success or reward could only be found in the joy of creating and art could never be a “real job.” Despite the daunting statistics regarding supply and demand, art is not just another commodity. Its value is not determined solely by economic laws but also by whether a particular artist resonates with the visual culture or spirit of the time. The world changes, and so does art. Therefore, even though art is a lasting product, we will always be drawn to new art because it reflects and resonates with our era. It connects with us and what we feel and experience on a level that only art can reach. This connection can be so powerful that all statistics and rational considerations are rendered irrelevant. You love the artwork. It makes you feel something that nothing else can. And therefore, your heart desires it—its value becomes greater than what the law of supply and demand dictates. This can happen on a personal level with a private collector, but also on a collective level when an artwork gains cultural value and recognition, finding its way into the art world system, which adds artistic and historical value beyond its decorative worth. It is this cultural value—and the philanthropy that accompanies it—that enables artists to earn a living and transform a passion into a sustainable career. From the outside, this might seem unthinkable. But, when you have a look inside, you’ll notice that tens of thousands of artists are living their dream jobs thanks to passionate collectors, galleries, various initiatives, and institutions that continue to invest in creative people, resulting in the $60 billion commercial art market.

So, who are the artists supplying this art system? Artists outside of the art world who are not exhibiting or participating in any professional way are often referred to as hobby artists or passion artists. This group makes up the vast majority of our estimated 15 to 30 million active artists today. Now, let’s take a look at the statistical reality of 1.2 million registered and exhibiting artists who operate inside the art world—from its periphery to its very center. Within this group, we can distinguish five levels based on career success. From this perspective, we can associate different price and income ranges based on art market insights, sales history, and the estimated net worth of the artists. 

At the periphery of the art world, we find beginner artists or novice artists. These artists have just entered the conversation, taking their art and career more seriously compared to hobby artists. They have their first registered exhibitions at low-value venues but have not yet worked their way into a serious commercial art gallery or non-profit institution. There is no activity on the secondary market—a term which refers to all sales occurring after the initial sale on the primary market (where the artwork is being collected for the very first time via a direct sale or through a gallery that acts as the intermediary). As a result, the art of beginner artists has not yet gained cultural or art-historical value and relies almost entirely on its decorative value. Their prices generally range from $200 to $4,000, depending on size, materials, working hours, and whether or not the artwork is unique or part of an edition. While new artists occasionally make sales, their income remains limited due to low price points, minimal exposure, and irregular sales. On average, they earn between $0 and $5,000 per year, or operate at a loss. This group represents approximately 45% of registered and exhibiting artists (an estimated 540,000 artists).

Next, we have the emerging artist. When a beginner artist starts to gain some traction by exhibiting at entry-level but reputable local or national galleries and starts selling to more serious art collectors, they enter the emerging stage. The term emerging, however, can be further divided into two subcategories: the new emerging artist and the advanced emerging artist. In the art world, this nuance is rarely acknowledged for the sake of simplicity. Even more, most beginner artists are also frequently labeled as emerging artists, simply because it has a more promising ring to it. This broad use of the term unduly groups together about 95% of all registered artists in the art world under one umbrella, whereas in reality, the different career stages are far more nuanced, with clear distinctions in both résumé and income.

For instance, the new emerging artist begins to participate in the art world at a local or national level through group exhibitions at entry-level to medium-sized galleries and, occasionally, a first solo show at a small gallery. They start applying for entry-level art opportunities to establish initial recognition markers for their résumé. Exhibitions at critical venues, such as non-profit institutions, remain rare, and participation in art fairs is highly unlikely because small or mid-sized galleries often cannot afford to take such a financial risk with an unknown artist. New emerging artists typically have no secondary market activity and are still relatively unknown beyond their local scene. Their prices range from approximately $600 to $6,000, and their annual income averages between $5,000 and $25,000. Please note that some artists can achieve these figures without participating in the art world system, by following self-represented career paths in the decorative art market, which has a more transactional focus instead of building critical recognition. Think direct sales on social media, e-commerce webshops, or self-hosted exhibitions at fairs and festivals. The new emerging artists represent approximately 40% of the 1.2 million registered and exhibiting artists (an estimated 480,000 artists).

On the other hand, the advanced emerging artist has gained more visibility within the higher-end contemporary art world, has been around longer, proving their commitment, and often operates on a semi-professional basis. These artists may work part-time or full-time, supported by steady sales and ongoing collaborations—think of representation by one or more entry-level to medium-sized art galleries. They build cultural exposure through participation in juried prizes, residencies, grants, features in recognized art magazines, or exhibitions curated by non-profit institutions connected to the main networks of their national art scene. Their works are occasionally offered on the secondary market. Their galleries might present their work at international art fairs, though rarely at top-tier events such as Art Basel and Frieze. The price range for their work now exceeds purely decorative value, generally ranging from $800 to $12,000. Advanced emerging artists earn between $25,000 and $100,000 per year. As with the previous group, some artists can achieve similar income levels through self-representation in the decorative market, using digital platforms or independent exhibitions. This group represents approximately 10% of the registered and exhibiting artists (an estimated 120,000 artists).

Climbing the ladder further, the term mid-career artist does not refer to an artist who is halfway through their career, but rather to one who has been participating actively in the art world for a substantial number of years, allowing cultural and artistic value to accumulate. Mid-career artists have a consistent sales record, are represented by medium-sized galleries, and participate in international art fairs. They hold solo exhibitions at reputable galleries and non-profit institutions and may have participated in group exhibitions with industry-leading galleries or major museums. They may also have had solo exhibitions at regional or national institutions, though not yet one-person shows at major museums. Their recognition is reinforced by coverage in renowned art publications, awards, an active collector base, and acquisitions by public, institutional, corporate, and renowned private collections. Consequently, they have a strong and stable primary market and some secondary market activity. Mid-career artists frequently participate in biennials, triennials, and other major art events. Due to growing demand, they often expand their studio operations, hiring one or more studio assistants. Their artworks typically range in price from $5,000 to $100,000, depending, as always, on the discipline, medium, size, and edition. Mid-career artists earn between $100,000 and $1,000,000 per year. At this level, it is rare to find artists who operate outside the formal art world, although a few achieve comparable figures through decorative galleries or large-scale self-representation strategies. The mid-career artists represent approximately 4.9% of registered and exhibiting artists (an estimated 58,800 artists).

Next, we have the established artists, often referred to as blue-chip artists. These artists are represented by industry-leading and/or mega-galleries (a term which refers to roughly the top 10 to 15 galleries in the world managing the majority of established artists). They participate in group exhibitions at major art institutions and solo exhibitions at prominent national and international museums. Their galleries exhibit their work at the world’s most prestigious art fairs, typically in central, high-profile booths rather than the periphery or discovery sections. They have an active and consistent secondary market and are collected by renowned public institutions. Established artists are frequently featured in major art magazines, may have received prestigious awards, and regularly participate in major global art events. Their works sell for between $10,000 and $2.5 million on the primary market, depending on discipline, size, and edition, and can reach eight figures on the secondary market. By this stage, the artist typically manages a large studio operation to meet global demand—often employing studio assistants, art handlers, administrative staff, and even in-house art historians. Established artists earn between $1,000,000 and $10,000,000 annually. This group represents approximately 0.1% of the art world artist population (an estimated 1,200 artists).

Finally, we reach the art world superstars. These artists are essentially part of the established category, so their presence is incorporated in the aforementioned 0.1% of established artists. However, they operate at an even higher level of cultural visibility and financial success. They have major retrospectives at the world’s leading institutions and command a total market value that far exceeds even the highest-performing established artists. Art world superstars earn more than $10,000,000 annually. Think of figures such as Yayoi Kusama, David Hockney, Gerhard Richter, or entrepreneurial powerhouses like Damien Hirst and Jeff Koons, whose estimated net worth reaches $1 billion and $500 million, respectively. This elite group represents approximately 0.01% of the art world artist population (around 120 artists).

Our numbers are very similar—albeit slightly less optimistic—compared to Magnus Resch’s 2011 study,⁷ and they follow a similar trend when compared with other studies such as the Artfinder Independent Art Market Report (2017),⁸ the Creative Independent Report (2018),⁹ and the 2019 Livelihoods of Visual Artists Data Report.¹⁰ Despite these rough estimates, the statistical reality within this segment of the artist population is far more encouraging than it may appear at first sight. Yes, there is an exponential difference in income comparing the top 0.1% of established artists with the bulk of the artists in the art world, from beginner up to the more successful mid-career artists, but this is arguably the case in numerous industries as a natural result our capitalist global economy. One can indeed conclude that becoming part of that 0.1% is naïve, as it is extremely unlikely unless all the stars align. However, too often, artists are led to believe that if they are not part of that 0.1%, do not live in New York, or do not have a retrospective at MoMA, they have failed. This is, of course, false, problematic, and unfair—a polarizing, narrow, sensationalist, and pessimistic view that fuels artists with despair instead of empowering them.

I am convinced that the glass is half full rather than half empty for artists today. Within the art world system, almost half of the artists are profitable and make more than $5,000 per year. One in six earns more than $25,000 and can become a part-time or even full-time artist, while one in twenty earns more than $100,000 per year. Some argue that this is unfair and that all artists should have the opportunity to work full-time on their art and be compensated for it, regardless of whether the world needs it. It’s a noble ideal—but that’s not how the world works, and we must accept that. The world does not owe you the fulfillment of your dreams; you must work for them and earn them. Still, the silver lining is that once we can get inside the art system, the statistical reality becomes far less grim—and discussing how one can get inside is exactly what we provide with our dedicated section with Advice for Artists, making your starting position will be significantly stronger than that of most artists, giving you all the information and tools needed to succeed, to become one of the 1.2 million artists on the inside, rather than one of the 30 million hobby artists. If you create good art, maintain a professional profile, and know how to participate in the art world to initiate collaborations and opportunities, everyone has an honest chance at success. If you have the talent, knowledge, and perseverance, I would even say you have a very plausible chance at success. So, do the work to capitalize on this favorable position. Don’t be discouraged by those who claim that trying to become an artist is like playing the lottery. When you play the lottery, the odds are not one in six to earn more than $25,000 per year. More importantly, unlike playing the lottery, you are in charge of your own success. So be patient, give it your all, go the extra mile, and believe that you can be that one in six—or perhaps even that one in twenty—to fulfill your dream. It is up to you to beat the odds, and we will level the playing field to help you do exactly that.

Notes:

1. Magnus Resch, How To Become A Successful Artist (London/New York: Phaidon, 2021); p. 68. ↩︎
2. Artfacts, https://artfacts.net consulted on October 20, 2025 ↩︎
3. National Endowment for the Arts, Office of Research & Analysis and the U.S. Bureau of Labor Statistics, 2021. ↩︎
4. Dr. Clare McAndrew, The Art Basel and UBS Art Market Report 2025 by Arts Economics (Basel/Zurich: Art Basel and UBS, 2025); p. 23.  ↩︎
5. Dr. Clare McAndrew, The Art Basel and UBS Art Market Report 2025 by Arts Economics (Basel/Zurich: Art Basel and UBS, 2025); p. 21. ↩︎
6. Magnus Resch, How To Become A Successful Artist (London/New York: Phaidon, 2021); p. 52. ↩︎
7. Magnus Resch’s Ph.D. thesis (2011) as illustrated and discussed in Magnus Resch, How to Become A Successful Artist. London/New York: Phaidon, 2021. ↩︎
8. Artnet, A New Study Shows That Most Artists Make Very Little Money, With Women Faring the Worst at https://news.artnet.com/market/artists-make-less-10k-year-1162295 consulted August 17, 2023: In 2017, the Artfinder Independent Art Market Report, analyzing the income of artists in the United States, argued 75% of artists earn less than $10,000/year—similar to our study’s 85% earning less than $25,000/year—with almost 50% earning less than $5,000/year—in line with the 45% making between $0 and $5,000 of our study. ↩︎
9. Artnet, How Hard Is It to Make It as an Artist? A New Study Shows There Are Many Paths to Success—and Failure at https://news.artnet.com/art-world/artist-financial-stability-survey-1300895 consulted August 17, 2023: In 2018, the Creative Independent—a platform that can be seen as the equivalent of Kickstarter but for creatives—performed a survey analyzing the two leading countries in the art world; the United Kingdom and the United States of America. The results argued artists on Creative Independent in the UK have a median income between $20.000 and $30.000, with 60% earning less than $30.000, similar to the 85% from our study earning between $0 and $25,000. In the States, a mere 19% are making over $50.000, corresponding with the 10% of artists making between $25,000 and $100,000. Two notable similarities, considering there will be fewer non-career-oriented hobby artists on this platform. ↩︎
10. Arts Professional, Only a third of artists’ income comes from their art, research finds at https://www.artsprofessional.co.uk/news/only-third-artists-income-comes-their-art-research-findsconsulted August 17, 2023: In 2019, The Livelihoods of Visual Artists Data Report argued that the vast majority of artists—two-thirds of the artist population—earn less than $6.500/year, wich corresponds with the 45% earning less than $5,000 and 85% earning less than $25,000, with only 7% making over $25.000/year corresponding with our 10% making more than $25,000 per year. ↩︎

Last Updated on October 21, 2025