kalm
Junior Member
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November 2010
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kalm
Junior Member
๐จ๏ธ 1,005
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November 2010
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Murakami(bankrupt), by kalm on Jul 1, 2020 21:53:14 GMT 1, He also should open up shipping to outside Japan!
He also should open up shipping to outside Japan!
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Knowss
New Member
๐จ๏ธ 369
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November 2019
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Murakami(bankrupt), by Knowss on Jul 1, 2020 21:54:59 GMT 1, He also should open up shipping to outside Japan!
Agree
He also should open up shipping to outside Japan! Agree |
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sfnyc
Junior Member
๐จ๏ธ 1,119
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August 2017
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Murakami(bankrupt), by sfnyc on Jul 2, 2020 1:37:08 GMT 1, Sorry I don't buy it, he is one of the best paid artists. It's like Kanye saying he s broke a few years back when he needed attention... yet is now one of the highest earners in the music industry...
Sorry I don't buy it, he is one of the best paid artists. It's like Kanye saying he s broke a few years back when he needed attention... yet is now one of the highest earners in the music industry...
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Express Post
Junior Member
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January 2008
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Murakami(bankrupt), by Express Post on Jul 2, 2020 1:59:54 GMT 1, Just have to take it as face value atm. His movie is haemorrhaging money, so gotta put production on ice.
It doesn't mean his art goes to zero.
He's been known to be demanding like requesting a production budget upfront by the gallerist. After he cut ties with Blum and Poe, the lack of funds to sustain daily operations must have really hit.ll That's why you need a good grasp of the boring shit like accounting so you get to stay liquid.
Just have to take it as face value atm. His movie is haemorrhaging money, so gotta put production on ice.
It doesn't mean his art goes to zero.
He's been known to be demanding like requesting a production budget upfront by the gallerist. After he cut ties with Blum and Poe, the lack of funds to sustain daily operations must have really hit.ll That's why you need a good grasp of the boring shit like accounting so you get to stay liquid.
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7thson
New Member
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December 2013
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Murakami(bankrupt), by 7thson on Jul 2, 2020 2:03:13 GMT 1, It sounds like this is a spending/discipline problem more than anything. In just the past few weeks, on his official web store, he's sold out, very quickly, multiple prints where total revenue would equal $1.5M+. Not to mention all the little trinkets he sells there.
This is one reason why he hasn't opened up sales outside Japan, I would suspect. He has no problem selling items currently, and from what I gather, there are barriers that make it hard to do so outside Japan, and probably not worth the effort. The flip side of course is that you shutout a large segment of buyers who might otherwise get excited about his work once they see it in person, and contribute to demand. I know many people in the US who are in this boat - they like his work but won't go through the effort or pay the inflated (and likely artificial) resell market prices.
Now of course there is risk with just pumping out piece after piece - it saturates his market, which he's seeing the effects of now, most likely. But at this point, when he needs funds, I would expect he continues to do so as people are still selling his works out on release.
Will be interesting to see what happens from here. As someone who has bought his work because I really like it, I wouldn't mind more prints being released out of necessity for revenue.
But yeah, I agree with some of the other comments - I don't think he has much to worry about overall. He just needs to be more realistic and accountable with his decisions on where he spends money.
It sounds like this is a spending/discipline problem more than anything. In just the past few weeks, on his official web store, he's sold out, very quickly, multiple prints where total revenue would equal $1.5M+. Not to mention all the little trinkets he sells there.
This is one reason why he hasn't opened up sales outside Japan, I would suspect. He has no problem selling items currently, and from what I gather, there are barriers that make it hard to do so outside Japan, and probably not worth the effort. The flip side of course is that you shutout a large segment of buyers who might otherwise get excited about his work once they see it in person, and contribute to demand. I know many people in the US who are in this boat - they like his work but won't go through the effort or pay the inflated (and likely artificial) resell market prices.
Now of course there is risk with just pumping out piece after piece - it saturates his market, which he's seeing the effects of now, most likely. But at this point, when he needs funds, I would expect he continues to do so as people are still selling his works out on release.
Will be interesting to see what happens from here. As someone who has bought his work because I really like it, I wouldn't mind more prints being released out of necessity for revenue.
But yeah, I agree with some of the other comments - I don't think he has much to worry about overall. He just needs to be more realistic and accountable with his decisions on where he spends money.
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7thson
New Member
๐จ๏ธ 89
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December 2013
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Murakami(bankrupt), by 7thson on Jul 2, 2020 3:44:48 GMT 1, The biggest issue is the limited Japanese market makes more than him on the reselling of pieces. It makes job financial sense for him to keep it limited and make resellers more money than he makes.
I get the impression he works with resellers to keep his prices inflated, and gets a cut at higher priced sales.
I hope however out of all of this, if he reigns in spending on all these random projects, he can spend less time on all the fashion/music/entertainment collabs to supplement income. Those do nothing for me. I have a few of his silkscreen flower prints, and they are incredible. Out of all the prints I have collected from various artists, the quality of those are maybe the most impressive I've seen. Would love to see more effort on that work going forward, as that is ultimately why I am a fan and the work I will buy.
The biggest issue is the limited Japanese market makes more than him on the reselling of pieces. It makes job financial sense for him to keep it limited and make resellers more money than he makes. I get the impression he works with resellers to keep his prices inflated, and gets a cut at higher priced sales. I hope however out of all of this, if he reigns in spending on all these random projects, he can spend less time on all the fashion/music/entertainment collabs to supplement income. Those do nothing for me. I have a few of his silkscreen flower prints, and they are incredible. Out of all the prints I have collected from various artists, the quality of those are maybe the most impressive I've seen. Would love to see more effort on that work going forward, as that is ultimately why I am a fan and the work I will buy. |
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thomasmer
Junior Member
๐จ๏ธ 1,107
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July 2014
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Murakami(bankrupt), by thomasmer on Jul 2, 2020 3:57:23 GMT 1, The only thing that doesn't make sense is you don't see big results at auctions for originals... And you don't see originals anywhere. I've seen an original in a museum, but not in private collections.
The only thing that doesn't make sense is you don't see big results at auctions for originals... And you don't see originals anywhere. I've seen an original in a museum, but not in private collections. Ive seen loads in private collections. |
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thomasmer
Junior Member
๐จ๏ธ 1,107
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July 2014
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Murakami(bankrupt), by thomasmer on Jul 2, 2020 4:02:15 GMT 1, Hi studio costs vs sales must be pretty slim, I've seen his studio and how many people he has working for him, that kind of operation needs a huge turn over, especially in Japan. Its why Hirst is painting shit dots in his underpants alone, he can't afford to pay people full time especially during these times.
Hi studio costs vs sales must be pretty slim, I've seen his studio and how many people he has working for him, that kind of operation needs a huge turn over, especially in Japan. Its why Hirst is painting shit dots in his underpants alone, he can't afford to pay people full time especially during these times.
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7thson
New Member
๐จ๏ธ 89
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December 2013
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Murakami(bankrupt), by 7thson on Jul 2, 2020 4:26:24 GMT 1, Hi studio costs vs sales must be pretty slim, I've seen his studio and how many people he has working for him, that kind of operation needs a huge turn over, especially in Japan. Its why Hirst is paintings**t dots in his underpants alone, he can't afford to pay people full time especially during these times.
Especially when you look at the quality of the prints produced in his studio.
Hi studio costs vs sales must be pretty slim, I've seen his studio and how many people he has working for him, that kind of operation needs a huge turn over, especially in Japan. Its why Hirst is paintings**t dots in his underpants alone, he can't afford to pay people full time especially during these times. Especially when you look at the quality of the prints produced in his studio. |
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cmc
New Member
๐จ๏ธ 380
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July 2013
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Murakami(bankrupt), by cmc on Jul 2, 2020 7:15:36 GMT 1, Just check out his Instagram story, he spent the last 10 years or so making 2 quite big budget movies, the first which completely tanked and the second has been all but cancelled after nearly being finished?
They have both been, in his words something like 'vanity projects' and that he doesn't really know what he's doing when it comes to making movies.
He admits that it's been a huge mistake that has wasted millions of dollars and brought his company (which?) to the brink of bankruptcy.
Just check out his Instagram story, he spent the last 10 years or so making 2 quite big budget movies, the first which completely tanked and the second has been all but cancelled after nearly being finished?
They have both been, in his words something like 'vanity projects' and that he doesn't really know what he's doing when it comes to making movies.
He admits that it's been a huge mistake that has wasted millions of dollars and brought his company (which?) to the brink of bankruptcy.
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Winter
Junior Member
๐จ๏ธ 7,155
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March 2007
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Murakami(bankrupt), by Winter on Jul 2, 2020 8:44:04 GMT 1, Heโs just done a global range with Uniqlo and Billie Eilish, that must be worth a fortune
Heโs just done a global range with Uniqlo and Billie Eilish, that must be worth a fortune
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cnrdvln
Junior Member
๐จ๏ธ 1,404
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February 2017
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Murakami(bankrupt), by cnrdvln on Jul 2, 2020 8:48:37 GMT 1,
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Murakami(bankrupt), by Anthony Styles on Jul 2, 2020 8:58:50 GMT 1, The only thing that doesn't make sense is you don't see big results at auctions for originals... And you don't see originals anywhere. I've seen an original in a museum, but not in private collections.
The only thing that doesn't make sense is you don't see big results at auctions for originals... And you don't see originals anywhere. I've seen an original in a museum, but not in private collections. I have seen a couple of originals in person and I do know a couple of serious collectors who have them. I think most of his originals are in the States and Asia so they dont show up in Europe that often unless there is a show. |
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mose
New Member
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May 2017
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Murakami(bankrupt), by mose on Jul 2, 2020 11:41:27 GMT 1, I don't understand this. How can Murakami be on the verge of bankruptcy when his originals sell for millions at high end galleries like Sothebys. Even his plastic figures are not cheap. And he seems to pump out a new print every couple of months. He is one of the most successful artists alive today.
That's how I felt when I first saw the news. Then I thought about expenses. How much do all those employees cost? The production studios? The galleries?
You can make $1,000,000,000 but if you spend $1,000,000,001 doing it well then you are broke.
I don't understand this. How can Murakami be on the verge of bankruptcy when his originals sell for millions at high end galleries like Sothebys. Even his plastic figures are not cheap. And he seems to pump out a new print every couple of months. He is one of the most successful artists alive today. That's how I felt when I first saw the news. Then I thought about expenses. How much do all those employees cost? The production studios? The galleries? You can make $1,000,000,000 but if you spend $1,000,000,001 doing it well then you are broke. |
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Murakami(bankrupt), by Happy Shopper on Jul 2, 2020 11:47:00 GMT 1, I guess prints and merchandise deals just pay for the production of those big originals, sculptures and the films.
And when those things get delayed, and so can't be sold, there's a cash flow issue! The money's probably all there, in the art, but he needs projects finished to cash it in.... and probably been stretching things far too far by the sound of it!!
I guess prints and merchandise deals just pay for the production of those big originals, sculptures and the films.
And when those things get delayed, and so can't be sold, there's a cash flow issue! The money's probably all there, in the art, but he needs projects finished to cash it in.... and probably been stretching things far too far by the sound of it!!
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.dappy
Full Member
๐จ๏ธ 9,841
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December 2010
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Murakami(bankrupt), by .dappy on Jul 2, 2020 11:52:01 GMT 1, ... why wouldn't the film he is making be split into a different 'murakami film company' ...
... most companies with different lines work do that ... as it protects the other 'companies' when something goes wrong ...
... cash flow problems can kill any and the biggest companies ...
... why wouldn't the film he is making be split into a different 'murakami film company' ...
... most companies with different lines work do that ... as it protects the other 'companies' when something goes wrong ...
... cash flow problems can kill any and the biggest companies ...
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Deleted
๐จ๏ธ 0
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January 1970
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Murakami(bankrupt), by Deleted on Jul 2, 2020 12:30:11 GMT 1, It could not have happened to a nicer artist, I'm confident he can bounce back from this. He needs to ask KAWS for advice on how to maintain the income / outcome. Didn't KAWS make like $50 Mil last year 
also the movie he was working on is too much like Pokemon, the entire concept.
It could not have happened to a nicer artist, I'm confident he can bounce back from this. He needs to ask KAWS for advice on how to maintain the income / outcome. Didn't KAWS make like $50 Mil last year also the movie he was working on is too much like Pokemon, the entire concept. |
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jimmyjam
New Member
๐จ๏ธ 578
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October 2019
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Murakami(bankrupt), by jimmyjam on Jul 2, 2020 14:28:23 GMT 1, Iโve worked with many artists who make a ton one year and make almost zero the next. Their incomes come in waves sometimes while their overhead is extremely high in certain cities every year. New York and Japan are extremely expensive in general and for an artist it can be extremely difficult. Real estate, Taxes and assistant payment are unbelievably high in certain places.
nymag.com/arts/art/rules/kehinde-wiley-2012-4/
Kehinde Wiley outsources his work to China and other places to keep his cost down. Yup those million dollar paintings are done by basically a (his) Chinese factory. Ironic, or smart, of him to do considering... But doing art in these expensive places will really affect an artists income every year by a lot.
Iโve worked with many artists who make a ton one year and make almost zero the next. Their incomes come in waves sometimes while their overhead is extremely high in certain cities every year. New York and Japan are extremely expensive in general and for an artist it can be extremely difficult. Real estate, Taxes and assistant payment are unbelievably high in certain places. nymag.com/arts/art/rules/kehinde-wiley-2012-4/Kehinde Wiley outsources his work to China and other places to keep his cost down. Yup those million dollar paintings are done by basically a (his) Chinese factory. Ironic, or smart, of him to do considering... But doing art in these expensive places will really affect an artists income every year by a lot. |
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Murakami(bankrupt), by Deleted on Aug 17, 2020 15:43:35 GMT 1, ya I felt his charity print was pretty expensive but I do understand itโs for charity haha. He did try to build a ton of hype around it to have people enter to even buy it ๐ค
ya I felt his charity print was pretty expensive but I do understand itโs for charity haha. He did try to build a ton of hype around it to have people enter to even buy it ๐ค
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kuni
Junior Member
๐จ๏ธ 1,153
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February 2018
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Murakami(bankrupt), by kuni on Aug 17, 2020 17:08:56 GMT 1, Iโve worked with many artists who make a ton one year and make almost zero the next. Their incomes come in waves sometimes while their overhead is extremely high in certain cities every year. New York and Japan are extremely expensive in general and for an artist it can be extremely difficult. Real estate, Taxes and assistant payment are unbelievably high in certain places. nymag.com/arts/art/rules/kehinde-wiley-2012-4/Kehinde Wiley outsources his work to China and other places to keep his cost down. Yup those million dollar paintings are done by basically a (his) Chinese factory. Ironic, or smart, of him to do considering... But doing art in these expensive places will really affect an artists income every year by a lot.
For better or worse, I can't read something like the above and not feel some of the magic of the art diminished. Am I crazy to think that for the most part artists should paint their own work? I totally get having a team to assist on installations and sculpture, and having help, but the idea that he's chilling in NYC while a team of Chinese laborers do the actual painting makes me feel differently about his (or any artists) work.
I'm probably just naive.
Iโve worked with many artists who make a ton one year and make almost zero the next. Their incomes come in waves sometimes while their overhead is extremely high in certain cities every year. New York and Japan are extremely expensive in general and for an artist it can be extremely difficult. Real estate, Taxes and assistant payment are unbelievably high in certain places. nymag.com/arts/art/rules/kehinde-wiley-2012-4/Kehinde Wiley outsources his work to China and other places to keep his cost down. Yup those million dollar paintings are done by basically a (his) Chinese factory. Ironic, or smart, of him to do considering... But doing art in these expensive places will really affect an artists income every year by a lot. For better or worse, I can't read something like the above and not feel some of the magic of the art diminished. Am I crazy to think that for the most part artists should paint their own work? I totally get having a team to assist on installations and sculpture, and having help, but the idea that he's chilling in NYC while a team of Chinese laborers do the actual painting makes me feel differently about his (or any artists) work. I'm probably just naive. |
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