You shouldn’t have to be rich to collect art. This artist is making sure of it.

Bahamian artist April Bey's Equity in Collecting program is helping Black communities own original artwork at a fraction of the cost.

Everyone should be able to become an art collector. And yet, the art collection world remains financially inaccessible for most people, including the artists themselves.

Bahamian artist April Bey has spent years creating unique pieces that explore the complexities of culture, surrealism, futurism, and more. Having shown her pieces in museums and exhibitions around the world, Bey’s artistry has helped expand people’s art collections internationally. And yet, despite being the creator behind these works, there came a point where Bey couldn’t afford to buy an April Bey creation.

That realization prompted her to create the Equity in Collecting program , designed to make contemporary art ownership more accessible and build a broader and more diverse community of collectors by creating a pathway for historically marginalized communities to enter the art market.

“The originating idea was that I couldn’t afford to buy my own work. I was simultaneously grateful that my work had, and continues to, gain in value. I have very supportive collectors. But I couldn’t afford to buy my own work,” Bey told theGrio.

However, beyond herself, the contemporary artist and Glendale Community College tenured professor recalled the number of supporters who expressed their dreams of one day being able to afford one of her pieces, an admission—she notes—that never came from a place of asking her to reduce her prices but from genuine aspiration and support for her artistry. Those testimonials, paired with conversations she’s had with fellow artists, inspired her to build out the equity program.

“A lot of my biggest supporters have just been watching for years, unable to support,” she explained. “Arts workers in general and other artists…We want to buy each other’s art. We’re in the game, and we like the trading of it, but oftentimes we can’t afford to trade with each other.”

Drawing on her experience building an equity committee in academia, Bey created an application process for the system. Designed for Black communities, women of color, LGBTQIA+ communities, Indigenous communities, public service employees, single parents, those living with disabilities or on federal assistance programs, emerging artists and curators, the program allows anyone experiencing economic or systemic marginalization to buy her art at a fraction of the cost. Accepted applicants receive what amounts to a studio-issued voucher covering 90 percent of a work’s price. For instance, this year, works with a retail value of $7,000 are going to equity collectors for $700. And the only clause is that buyers do not resell equity for 5 years.

“High-spending collectors are great, galas are fun, art fairs are cute, but… my community, which is mostly the equity collectors, is the prize,” she explained.

The pricing of equity depends entirely on the materials used. When Bey partners with galleries and museums for installations, they typically pay for its materials. So instead of discarding the leftover materials, the contemporary artists use those to create pieces exclusively for the equity program. So, like high-spending collectors, people in the equity program are getting original, one-of-a-kind pieces handmade by Bey, all while creating a system that allows Bey to sustain her independent studio in Los Angeles and further connect with her community.

“My objective is to make sure my studio can still function without the art market. My galleries are amazing. My sales with them have not changed because of this program,” she explained. “This program is serving geriatric millennials, younger Gen Zs that are just trying to learn, art workers, people that are here and aren’t going anywhere, and it also benefits me.”

This year at Miami Art Basel and Untitled Art Fairs, Bey will be showcasing her equity works with Vielmetter Los Angeles at Art Basel and the National Art Gallery of the Bahamas. Reflecting on how the program has diversified her collector base, Bey noted that Black women are among her largest demographics. In addition to creating access, the artist hopes the equity program will also serve as an educational tool for communities that may never have considered art collection. For instance, she notes that content creators who are seeing large influxes of money could learn how art collecting can benefit their own finances.

“You could collect enough of my work that it’s being used as collateral to get a loan… because that’s what other people are doing. Why not have a good path to where that could happen more in our community?” she shared.

Describing the Equity in Collecting program as an act of love and trust, Bey’s program is a reminder that art collecting is not limited to the 1%. Beyond serving as decor in a person’s home, art—particularly Black art—is part of cultural archiving. Whether it’s an original or a print, every piece that ends up in our homes is a piece of our history we get to keep, at a time when institutions are working to erase it.

“I think people will see from the equity program that, as an artist, there are certain things I value that are not conducive to the art world, and so I’m willing to make the space myself for those of us who do value those things,” Bey concluded.

Full story sourced from TheGrio. Read the original article for the publisher's complete coverage.