For those looking for a quick answer, a blue chip artist is an artist who's past being established in the art market. Their work has sold for top dollar at various auction houses worldwide, they're well known amongst art collectors and their work tends to be in high demand. Some of these artist have blue chip representation from some of the top galleries in the world but others have absolutely no blue chip representation yet they're still considered a blue chip artist.
A solid example of that is British artist Banksy, he's not represented by any sort of gallery but his artwork is definitely blue chip ranked. Then there's artists who are on their way to be considered a bluechip artist, these tend to be a solid buy if you can spot them before. An example of an artist who might soon be considered Blue-Chip is Daniel Arsham.
PAY Phones - Daniel Arsham
The blue chips are the most valuable in standard poker sets. As time went by, the meaning of Blue Chip Stocks grew in popularity. This no longer refers to a stock that is expensive but rather to companies that are consistently profitable, regardless the economic downturns.
What Is a Blue Chip Artist?
Blue Chip artists are well-documented if you're only interested in investing for financial reasons. You can either look at the auction results over the past decade or concentrate on authenticated, verifiable masterpieces purchased from Blue Chip galleries.
These artists work is considered to not only hold its value but increase overtime, similar to blue chip stocks like Apple, Google, etc. Artists often make art that no one wants to buy. The artist could be harmed if the right critic slams his or her new work. Art's function is subjective. It is up for debate whether it succeeds.
Plane manufacturer Boeing is unlikely to spend many years creating a plane that no one will want to purchase. Even if a critic of Boeing's new plane calls it ugly or lacking in originality, people will still fly the plane. It is clear what planes can do. Competition and demand determine the price of planes. Agents are not required to defend their valuations.
Many factors are considered when determining the market value of a new artist's work. These include the artist's history and ability to convince buyers that there is a demand. Legitimate demand is created when the work is attractive to many buyers. If the work is not appealing to a large number of buyers, then demand must be created by those who have the power to influence the market (e.g. critics, celebrities or rich collectors).
What is Blue Chip Art?
The intrinsic value of an artwork is up for debate from person to person. Several indicators are used to come up with a price, including an artists auction results, demand and popularity in the art market. It's up for debate what the intrinsic value of artworks are. The artwork's intrinsic value can vary greatly from one person to another. Its value to the artist might be difficult to quantify. Blue Chip Art is not about the importance that a collector, institution, artist or history book places on the work. Only one thing is, being able to resell the work for more.
Blue Chip Art refers to art that is expected to increase in value regardless of economic conditions. Blue Chip artists include Warhol, Roy Lichtenstein, Kaws, and Takashi Murakami. Blue Chip galleries are able to resell the work of well-known artists, whose works are easily catalogued and authenticated and consistently bring higher prices at auction. For an extend list of BlueChip represented artists, visit this Artsy.
How to Become a Blue Chip Artist?
This question is often asked when it comes to discussing blue chip artists, unfortunately theres no real answer for it. What used to be the way was go to art school, get your work out there, try to get representation and with a bit of luck your work will land in the right hands.
Nowadays with the digital world we live in, it's sort of blurred the lines of how to become a bluechip artist as well as what is classified as bluechip art. Take BEEPLE for example, he's one of the most famous digital artists in the world, he had a record sale of 70 Million for one of his NFT's. Yet he doesn't even have bluechip representation.
Disclaimer: This Article is NOT investing or financial advice, we're sharing our opinion respectfully from a speculative point of view.