MIAMI — This weekend, many South Floridians are in Miami for the 61st Coconut Grove Arts Festival. While the artwork is catching visitors’ eyes, inflation’s impact on costs is catching the attention of organizers and artists displaying their work.
Each of Edwin Lester’s paintings has a story behind them.
“They all mean something,” Lester said.
And, they have a cost. President Trump said he wants to tax countries at the same rate that they tax the United States’ imports. He calls them reciprocal tariffs. Lester is worried that his art’s frames could cost more because they come from overseas.
“I think I’m going to feel the pain because a lot of it’s imported,” he said. “Of course, we’re gonna have to add that price onto the retail price.”
Executive Director Camille Marchese said this year’s festival costs 22% more to put together compared to last year. This also happens as the latest Consumer Price Index report showed that inflation increased by 3% in January compared to this time last year.
“Between the police, the permits, the sanitation [and] the staffing, it’s a beast to put on,” she said.
Marchese said it costs $1.8 million to put the art fest together. She told CBS News Miami that ticket prices rose about $5 or so to offset the cost increases. She said, unfortunately, the festival has not been the same since it started.
“A lot of locals are upset because it used to be free but that was 20 years ago,” Marchese said.
Eric Gonzalez is at his first art festival. He came from Oklahoma, and he doesn’t go through much product since his paintings are tiny.
“I focus on these small pieces and I can compete with some of the larger paintings,” Gonzalez said.
He said the cost that’s increased the most is travel. It set him back $2,500 to come down here for the weekend. He is hoping he can make more than that while he’s here.
“GPS said it was 21 and a half hours,” Gonzalez said “But we had to stop. And traffic.”
The Coconut Grove Arts Festival continues on Sunday from 10 a.m. to 6 p.m. and on Presidents’ Day from 10 a.m. to 5 p.m.
