ARTSMART INVOICE + CALCULATOR p.152-156
THE ARTSMART TOOLKIT
The ArtSmart Method + The ArtSmart Triangle
01 Plan
ArtSmart Cost + Benefit Matrix
02 Operate
03 Exhibit and Sell
ArtSmart Consignment Agreement
The ArtSmart Calculator allows you to see clearly the breakdown of what a gallery or other seller owes you when there are complex considerations. Mostly, I use the calculator with clients to figure out production cost splits and discount splits.
Confusion often arises because of the language that most galleries use to discuss sales—which doesn’t make sense to a lot of artists. A gallery’s wording is usually something like, “We will reimburse your production costs off the top of the sale.”
“Off the top of the sale” leads artists to believe they’re getting 100% of their production costs reimbursed, when in fact they’re only getting 50% reimbursed—the industry standard. The ArtSmart Calculator takes the guesswork out of this, so the artist can generate an accurate, professional invoice and have peace of mind that they’re getting paid the right amount.
When I worked in galleries, I was constantly meeting with artists who didn’t understand their payments; they didn’t understand how the math worked—but it’s not just artists. Gallery owners would also tell me they were recouping 100% of what was spent on production, which wasn’t actually the case. It seemed like everyone was confused—and where there is confusion in the art world, there’s room for miscommunication and distrust.
I built the ArtSmart Calculator to show everyone that what’s really happening is a 50/50 split. Breaking it down as Math 1 (gallery version) and Math 2 (artist version) makes it clear what’s accurate and fair—so nobody has to feel like they’re getting a raw deal. Money is the single biggest reason why artists and galleries sever ties. Transparency fosters trust.
Using the ArtSmart Calculator
The ArtSmart Calculator lets you see the sales amount worked out in two different ways. Math 1 is the way the gallery will present it, as a total sum. Math 2 details the splits between the artist and the gallery.
Math 1 and Math 2 should have the same bottom line. If you’re ever baffled by a payment you’ve received, you can plug the numbers into the calculator to be sure you’re getting what’s owed to you.
Do not rely on a gallery to stay on top of this for you. I’ve worked for a lot of honest galleries, and I’m a responsible and thorough person, but things can fall between the cracks. The onus is on you to double check the gallery’s calculation. The gallery treats itself as a business, and so should you.