I’ll just come right out and say it: I am tired of watching artists and arts organizations live on leftover scraps. In my 23 years of working with fine art, I have witnessed repeatedly how frugal the arts are. Not to the patrons with the big bank accounts, but to the artists, without whom their passionate interest would not exist. Frugal isn’t bad by itself. In fact, frugal can be good. But frugal becomes detrimental when it feeds the idea that we are not worthy of more.
Guest blogger: Debby L. Williams
Have you noticed on Antiques Roadshow that the appraisers always start with: “Tell me about this piece” ?
Appraisers are trying to find out the story and history of the object and how much it means to the owner. Before they give any valuation to the owner, they want to know what the emotional investment is.
This is the sentimental value and is different from the monetary value that the appraiser is going to hit them with at the end of the segment.
The value of a work of art is based on how a person feels about the object.
Your creativity, use of materials, technique, and the spirit you infuse into each piece make your art valuable to you.
These things are subjective and can change from time to time and from artwork to artwork.
How you value your art is different from how you price your art.
I wish I could pull a number out of the hat and tell you how to price your art.
It’s not that easy, as you’ve surely discovered. Here are general guidelines to begin with.
1. Start lower. It’s easier to start low and raise your prices than it is to lower your prices later. But . . .
2. Don’t undervalue your work. Selling your art too cheaply means you’re probably not getting paid what it’s worth.
Also, low low prices set you up for all kinds of problems later and will result in a mess of anger from other artists who see you as “the cheap one.” When buyers see that your work is “cheap,” they question higher prices from other artists.
3. Never ever ever undersell your galleries. You have one price for your art – whether
Pricing art is difficult for many artists–especially if you’re just starting out. In this Beginning Biz Basics post, I give you 10 guidelines for nailing those prices.
Most art consultants are asking artists to give them their wholesale pricing. Is that okay? What happens when you give the consultant–or even a gallery–leeway to choose their own pricing?
Artist Mckenna Hallett used her wordsmithing skills to create a template you can use to inform collectors about price increases. She says any contact you make with buyers is a marketing opportunity. Don’t miss out!
Even high-end galleries offer discounts to valued collectors as well as to museums. Artists can have their own sales, too, with the right strategies in place. Follow these 8 tips.
Audio version of the post with the same name. Even high-end galleries offer discounts to valued collectors as well as to museums. Artists can have their own sales, too, with the right strategies in place.
How do you tell collectors your prices have gone up? They need to know and will undoubtedly be happy for your success, but how do you tell them in a way that is comfortable for you?