Not very well. You need a really smooth wall and tons of coats. Even then, only really light magnets hold!

Yep, it works really well! And you don’t need to keep it black. To make a “bulletin board” in my office, I painted two coats of magnetic paint, then topped with a coat of bright blue.

I’ve used it. You have to use scientific magnets though.

Here in New Zealand Resene makes an excellent magnetic paint. It takes just 2 coats (quick to apply), and it’s designed to work under a topcoat of any colour – so the magnetic area can be disguised and appear to work like magic! Their magnetic paint is really effective – so much so that I designed a range of interactive magnetic wall art to be used with it!

Like others said, you need multiple, multiple coats. Ours has uneven hold too, so magnets stick to some parts and not others.

I used it on our island to create a magnetic blackboard. I think I did 3 thin coats and I think I had to make sure each dried and cured in between. I just followed the instructions of the guy at Benjamin Moore. Then painted over it with black chalkboard paint. It works pretty good. I have some car magnets from cb2 that have small magnets on the back and they stick fine holding one piece of paper up. I put my son’s most recent artwork up on the wall with them. He also loves playing with the car shaped magnets. Patience and time is key I think and it did emit some serious gases so we had to keep the doors and windows open and a fan circulating the air.

I painted one wall of my art room with Rustoleum Magnetic paint (says it’s gray but it looks nearly black), then painted a lovely Chinese Red over it. I only did two light coats of the red (bought a paint with primer gallon) because I could tell it would impact the megneticism. Also – the can of Rustoleum doesn’t go far because you need at least 3 (light) coats… so I ended up painting waist to top shelf height with the magnetic paint since I was planning to use it like an idea board and was covering it up (meant I had to get a dark gray primer under the remaining areas).
Then I purchased these magnets to use: http://www.rare-earth-magnets.com/
This works for most papers, magazine cut-outs and cards (unless a breeze catches them) but not for cloth or anything thicker than cardstock.
I am tempted to try the LGN example shown since the magnetic paint isn’t covered.
NOTE: artsy magnets that are strong but bulky (and not rare-earth) – will not hold enough to overcome their weight (like “Mighty Magnets”)

I have used magnetic paint with success. I followed the directions and painted multiple coats on a section of my teenage daughters bedroom wall, then I painted over it with a coat of wall paint. I had to use super powerful magnets, which I found at a hardware store, and she has a section of her wall now that she can use to post photos, and mementos. It was a bit of effort, but before I did this she would tape or thumb tack things to her wall which of course ruined the drywall.

I used 3 coats and put colored paint on top and…it doesn’t work. :(