Several years ago, my friend took a collector to Julian Schnabel’s home in Montauk with $10,000 ready to spend right there and then. Mr. Schnabel responded, “What do you want from me? A postage stamp?” I respected that man, that larger-than-life artist ever since. – de la Haba

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.

THE UNAFFORDABLE ART FAIR Coordinators: Gregory de la Haba & CJ Nye

HOURS: Friday, noon – 8:00pm & Saturday, noon – 6:00pm COCKTAIL PARTY: Saturday, 6:00 – 9:00pm

Participating artists:

Agni Zotis, Bernard Klevickas, Billy the Artist, Carrie Villines, CJ Nye, Dalton Portella, Elizabeth Hendler, Erik Pye, Francesco Masci, Gregory de la Haba, Jim D’Amato, Jsun Laliberte, Juan Hinojosa, Lee Wells, Lina Puerta, Mat Szwajkos, Peter Fox, Piotr Shtyk, Robert Preston, Stephen Madden, Stephen Woods, Tara Misenheimer

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

“Most artists have relatively low incomes, even though the majority (62%) are college graduates and hold at least one additional paying job.” (1/3 reporting under 40k; another 1/3 reporting under 20k.) http://eleetmusic.com/wp-content/uploads/2009/12/Selected-Findings-Artists-and-the-Recession-Survey-2009.pdf

Special thanks to New York Studio Gallery for donating their space for the run of this event.

Concurrent closing at LZ Project Space, 164 Suffolk Street (one door over): The Back Room Biennial, A group show organized by five curators each selecting two artists. Organized by David Gibson & Savannah Spirit.