Peter Lik makes more money in a year than some small countries

rexbobcat · Feb 22, 2015

Behold.

http://www.nytimes.com/2015/02/22/b...for-success-sell-prints-print-money.html?_r=0

jsecordphoto · Feb 22, 2015

That guy sounds like a douche

photoguy99 · Feb 22, 2015

$440m sounds like a lot but it's not necessarily. That's over the life of the business, as I read it.

Let's say he's pulling $60m a year now. Or, heck, $150m. That's $10m per gallery per year. Gross. These prints are not free to print and frame and ship, the rents he pays are astronomical, and many of the staff need to be paid at least a little. Sales will be largely commissioned. But it's not ALL sales people.

We could be looking at $10m per gallery per year. We could be looking at $3m or so. Reality likely lies between them. Expenses could be anywhere from $1m a year to several million.

So is he making money at all? Who knows. The cash flow is outstanding, though!

bc_steve · Feb 22, 2015

jsecordphoto said:
That guy sounds like a douche

I thought maybe you were begrudging him for his success. But then I read the article. What a self-absorbed asshole.

photoguy99 · Feb 22, 2015

Solid businessman, really. They're almost none of them sweethearts. He's got a plan and he's executing it.

Make loud beautiful prints. Hire piano salesmen to push them.

Cash flow galore!

rexbobcat · Feb 23, 2015

photoguy99 said:
$440m sounds like a lot but it's not necessarily. That's over the life of the business, as I read it.

Let's say he's pulling $60m a year now. Or, heck, $150m. That's $10m per gallery per year. Gross. These prints are not free to print and frame and ship, the rents he pays are astronomical, and many of the staff need to be paid at least a little. Sales will be largely commissioned. But it's not ALL sales people.

We could be looking at $10m per gallery per year. We could be looking at $3m or so. Reality likely lies between them. Expenses could be anywhere from $1m a year to several million.

So is he making money at all? Who knows. The cash flow is outstanding, though!

The average photographer makes between $30,000 and $50,000 a year. The top 90 percentile makes an exuberant $66,000 and up.

Braineack · Feb 23, 2015

and kim kardashian's net worth is estimated at $65million. what's the point?

pgriz · Feb 23, 2015

There are some important lessons in selling and human psychology revealed in that article. "Value" is shown to be a construct of a process that is quite rigorous in application, whether it is done by the art galleries and auction houses, or by Peter Lik's own retail outlets. In both cases, it is the process that confers a "value" on an object, and the value is not inherent in the object itself. And despite the disdain that each group shows for the other, the only difference in their processes is the differing emphasis during what is in fact a very similar process.

This article reinforces my observation that salesmanship is about creating something in the buyer's mind that has something to do with the object or service being sold, but has much more to do with the buyer's ideas, perceptions, and aspirations. "Sell the sizzle, not the steak".

runnah · Feb 23, 2015

Eh good for him. If people with more dollars than sense want to buy his stuff why worry about it. It's not like he is forcing lower-middle class folks to buy his stuff, thus forcing them into a deeper debt hole.

KmH · Feb 23, 2015

Lots of artistically talented people are self-absorbed assholes. So many that it seems like it's a necessary trait, so it's no surprised Peter Lik sounds like he's a self-absorbed asshole too.

But, it could just be Peter Lik using his business talents to promote Peter Lik in a way that makes his name stick in peoples minds.
After all, the article got linked to here at TPF so some number of people have now seen it that may not have other wise.

The only reason I came to this thread and wound up reading part of the article is because the thread got reported for spam.

photoguy99 · Feb 23, 2015

The point us that it's not at all obvious that Peter Lik is making any money at all.

He could be losing a million bucks a year.

Back of the envelope? He has made some real money. Is he making it or losing it this year? His undocumented "sale" last year is consistent with "he's got troubles"

Regardless, like all people in like positions, he works insanely hard and has worked insanely hard for years. His life is the company.

runnah · Feb 23, 2015

KmH said:
Lots of artistically talented people are self-absorbed assholes.

That is my excuse.

rexbobcat · Feb 24, 2015

runnah said:
Eh good for him. If people with more dollars than sense want to buy his stuff why worry about it. It's not like he is forcing lower-middle class folks to buy his stuff, thus forcing them into a deeper debt hole.

I kind of feel the same way about Lik that I feel about Justin Bieber. Both seem to be manufactured and simultaneously loved and hated.

And I wouldn't want to be either of them. I can respect their success but the person behind it is a different matter.

Vtec44 · Feb 24, 2015

I wish I'm a rich self absorb asshole too. Unfortunately I'm not rich.

imagemaker46 · Feb 24, 2015

I didn't past the first few lines. I have little time reading about these guys who are not amazed that they have done so well, but have the mentality that they are some divine being placed on earth to re-design it. Good for him that he makes more money than he could ever spend. I have a simple rule in life, "Would I ever want to sit down and have a beer with this guy" I have been around too many of these types, the ones that shake you hand without looking you in the eye, but looking past you to the next hand that they see is more important to them, self absorbed.