Why Do Galleries Take 50% of a Painting's Selling Price?

While not every art gallery takes 50% of the selling price of a painting, it's not a rare percentage. So why should any emerging artist accept this? What is the gallery doing for its share, are you getting value for money, and how much is simple profit? New York gallery owner Edward Winkleman addresses this from the 'inside' in his blog The Logic Behind the 50/50 Split.

Winkleman writes: "Many folks outside the gallery system will look at that split and be amazed, I'm sure. The artist is the creative genius ... In other professions, like acting, managers only get 15% and agents only get 10%. Why on earth does the gallery take 50% of the money? The short answer is because it costs that much to promote the artist's work. The longer answer is, well ... a bit like the adage about watching sausages being made." Read more about why galleries take 50%...