Unaffordable Art Fair

The arts are a major economic driver, for everyone except artists. Artists are increasingly being called upon to support the economy by lowballing our work or with outright contributions for which we cannot claim fair market value. The benefit of exposure that is said to accompany these sacrifices is a myth; unique objects are not good products with which to generate buzz and, quite frankly, most professional artists refuse to participate in all but the most worthy causes due to unfavorable tax laws. We, the artists of the Unaffordable Art Fair, ask- How do you value art? Remember: you get what you pay for.

Get the facts:

“Artists now play a huge but mostly unrecognized role in the new American economy of the 21st century” – NEA Chairman Dana Gioia. http://www.nea.gov/news/news08/ArtistsinWorkforce.html

“Orthodox micro-economists dismiss concern for artists’ relatively low earnings given their high educational attainment as simply a case of market over-supply…. But vis-à-vis stimulus, artists turn economic orthodoxy on its head. Compared to most other groups of workers, artists are more apt to spend what they make rapidly and on other goods and services in the local economy…. [and] artists enhance product design, employee relations and marketing in many industries.”
http://www.giarts.org/article/economics-arts-artists-and-culture

“Section 1221(3) of the Code explicitly provides that artistic property is not a capital asset and, thus, not entitled to long-term capital gain treatment.” (Meaning artists cannot deduct fair market value for contributions of artwork.)
http://www.aamd.org/advocacy/tax_rec.php

“Artists’ personal characteristics, in particular their average educational attainment, more closely resemble those of other professionals than other occupational groups. However, artists tend to experience labor market outcomes more adverse than those of most other professionals.”
http://www.arts.gov/research/Researcharts/Summary40.html