Okay, a couple of weeks ago I opened the biggest can of worms in an article about pricing in the Do This! newsletter. Actually, the can was always there, always open, and always waiting for me to deal with it. I also posted Pricing Your Art: 10 Rules.
I still don’t have all the answers, but I added more about pricing your art in today’s newsletter.
One of my business coaches likes to advise against using the word "discount" and instead using "savings." He thinks it is a classier word (avoids the "Wal-mart approach" to selling art) and helps distance the link between art and money (or increases the link between art and value).
I can give you a 10% savings or a 10% discount. An interesting choice — none wrong, but just a personal preference. When I sell art, I prefer 10% savings. When I sell workshops, I prefer to offer a 10% discount. For me, it all depends on the context.
PS When I looked up "savings" today, I liked that it included the concepts of "preservation from danger or destruction: deliverance" and "without disrespect to."
I never minded the word "discount" as it is used in contracts and negotiations, and I don’t think "savings" is any better. Agree? Disagree? Have an alternative? I’d love to hear from you.
If you want to give one of your best collectors a better price for your work, what do you offer? A savings? A discount?