Art Pricing – Why Lowering Prices Doesn’t Work and How to Resist the Temptation

A few years ago I took part in a three-day study tour on the beautiful, art-friendly island of Bainbridge. I spent most of the weekend hanging around, pricing every scarf, sweater, and hat over and over again, certain that if I picked the right price, my work would fly off the walls. it did not

That weekend came to mind when I read the following letter from artist Julie Sadler.

“I was recently at an outdoor art show and had to give people prices because they asked me for the original works I had done. Although I got a fair price for some of my larger works on the Internet, I found that if I asked for my price at the fair, people walked. When I was down 50%, items were sold. Does this mean I’m pricing too high to begin with? Is it better to just sell a few things…at a higher price, or many things at a lower price“

July my friend. (Since I loved it so much that I spent two hours last night perusing Julie’s website and related links when I should have been writing this article, I claim the right to call you my friend without irony.)

The simple answer to your question is that you can expect to sell for less when you sell your work on the street, where you can’t control the context, where you’re not in charge of the guest list, and where you don’t even choose what your neighbor will sell.

To do? It’s not enough to say, “Don’t lower prices.” It’s also not enough to say, “Keep off the street.” You and others, whether artists or architects, who are struggling with how much to charge need three things to get you off the price roller coaster.

1. A platform. 2. A path. 3. A driving range.

Your platform is your “coming from”, the context that encompasses the unspoken (but palpable) values ​​that you and your fair clients have in common. In many ways, it’s your niche market. (Did you know that “niche” comes from the Latin for “nest”? How cool is that?) Your platform (and I’m not entirely satisfied with this word, so if you have any ideas, please send them to me) is what makes you visible to your audience and what tells them where you come from.

To understand the significance of the platform, consider the difference between Disneyworld and the Louvre, between an Aveda spa and a remote, rustic hot spring.

With all due respect to sidewalk art shows, and my first place was the local farmer’s market, when you sell street art, you’ve left the cathedral for carnival. Not surprisingly, people expected to pay less.

To get to your platform, your audience walks a path. The nature of that path determines not only the initial exchange, but also the future of the relationship, as well as your own sanity and sense of direction and connection.

You see, there’s always a path, but until you take care of the landscaping and maintenance, the path is likely to lead your clients to nature rather than an ongoing relationship with your work.

The other thing about a path is that it tells you where you (and your work) are going. Knowing and caring for your path keeps you on track, reminds you of what you’re doing, reinforces your choices, and gives you a map and justification for pricing your art and other key parts of selling your work to the right audience.

There are a couple of clues in your email, Julie, that tell me your path needs your loving attention.

I was recently at an outdoor art show and I had to give people prices as they asked me for the original works that I have done. Although I have gotten a fair price For some of my larger works on the Internet, I found that if I asked for my price at the fair, people would walk away. When I’m down 50%items sold.

When you have a path, the price of your art is not an issue and prices are not a moving target. If people approach your work, express interest, and don’t mind paying the price that’s right for your path, that’s fine. A path is not for everyone; exists for the pilgrim, aka your perfect client (or client-in-training). Does this mean you have to be rigid about where you show up? You are welcome. From the hours I spent immersing myself in his work, his blog, his website, I got the impression that engaging with people fuels him. If so, by all means take your work to the streets.

But this is the deal. Make street fairs a way to get on the trail, not the end of the trail. Print greeting cards, matte color reproductions that you can sell at street prices. When people buy these low-end renderings of your work (stepping stones), invite them onto your email list, then talk to them from time to time, inviting them to make pilgrimages (to gallery shows, your sites Web. ..).

Ultimately, without a practice, you are bound to get off track. In other words, fear, the desire for appreciation and approval, and even your creative nature will distract you from your path without a practice to keep you focused.

I could write a book on the practice (in fact, I am). For the sake of this article, here is a simple practice to support art pricing.

1. Set prices in advance and vow not to lower them. Your price is your price is your price. You owe it to the people who have paid full price to honor the value you and they have already established. Prices go up, not down, unless you’re selling a commodity. 2. Use the buddy system to seal your vote. Where two or more artists (or architects or bodybuilders) meet and agree to hold the line, there is light…

3. Instead of selling, share it with people who are interested in your work. Talk to people. Ask them questions. Answer your questions. (Tip: Literally listen and answer the question you are being asked, not the question your fears are listening to. For example, “Why is it so expensive?” is not the same as “How dare you charge so much?”)

4. Work on your platform and walk. If you are busy designing and building your dream, you are less likely to be distracted by the nightmare.