Ten Reasons To Open an Artist-Owned Gallery During a Recession

How did this happen? A couple of weeks ago, I was  scrunching away at my computer, buried in business, when my artist friend Lola dropped by for coffee and a pickup. I warned her that I felt SO overwhelmed I hardly had time to talk. 

But Lola is  understanding and kind, and before long I was taking a much-needed break from a mountain of business related mostly to the estate of my parents, who both died in the last year, including what to do with our investments, how to cope with this scary economy no one can predict....

As we talked on the patio, I shared that, really, I wished I could just focus on my art and realize my dream of having it, along with poems and music, displayed and shared in an inspiration space.

"Maybe we should just open a gallery. I know a space for rent," Lola said in a burst of enthusiasm.

At first that seemed crazy (who needs MORE business "to dos"?). But before I knew what had happened I said, "OK. Why don't we just take a drive and see what's out there?" (It really helps to have a partner in crime, doesn't it?)  

Hours later I was considering the purchase of on a nearby office condo for sale for $195,000 in a prime highway signage location in the central business part of West Sedona. 

Most of Sedona's commercial real estate is owned by a handful of people and there are few opportunities to own a place at this price point. We met the realtor, one of that handful full of information about and confidence in the Sedona business scene, and he convinced us that it was a good deal. I talked it over  that night with Richard and we decided to do it, We had to leave town the next day and someone else was interested, so we signed papers, with the understanding we could back out after we researched it more. 

Well, a week later we got home from our holiday visit and I began doing my due diligence. I sobered up as considered it would mean: 

- refinancing our house for an additional $130k at age 68 and 60 when we could have had it free and clear. 

- bucking the tide when tons of galleries are closing and high-end longtime professional artists are in lean and scary times. 

A Phoenix realtor advised against it, passionately. 

Most artist friends said it's too risky and stressful, or wait til later. 

My body sent out stress signals so strong I began to wonder if I was developing a fatal disease that would, if nothing else, lead this venture to disaster. 

About the only one advising for it was a New Age friend who said "You gotta follow your dream!" 

Nice implication, that it will all work out if you follow your heart... But I do believe in thinking about big decisions rationally as well. So I thought it through, read articles,  looked at comparables online and googled "art market recession."

After a day or so of this, my feet were getting so cold that not even the promise of fulfilling a longtime dream could knock my socks off at that point.  So I made up a list of ten reasons to email to Lola and others as to why not to do it. Finally, I decided NOT to do it. And I felt relieved. I felt free. I felt grateful for a simple life of lesser accomplishments but more peace.  

Finally, last night I called up the realtor to back out. He said "Let's talk it over in the morning, this could be a mistake, you will kick yourself for missing the chance.." (Well, at least that might warm my feet back up.) 

And then I got an email from an artist freind and mentor who is still successfully running her own gallery. She just had her best year ever, and she felt I could make it work.

I began to feel peaceful inside, that either way was OK. Really, as some spiritual teachers say, it doesn't matter that much what goes on outwardly: it's the inner state that matters most.

 The body settled down. I calmly read some more articles on the art and real estate world, and soon I found good and reasonable PROS for every CON I'd listed. And a few things to check out. This morning I did that, and what I found gave me the green light. I am back on board, in for the ride. We will close in late December.

And so here they are, for the curious, the skeptical, the consoling, the bemused, the envious and the pitying: