Have you ever created a body of work just so you could sell at lower prices? If so, you might have created a problem for yourself.
Do any of the following ring true for you?
- You are afraid that people won’t buy your art if you charge what it’s worth.
- You believe that the people in your geographical region buy only cheaper art.
- You’ve started making smaller pieces because they’re less expensive.
- You have signed up for a service like Fine Art America to begin offering multiples of your art, even though the originals aren’t selling.
If you have created lower-priced work for any of these reasons, you might be lowering the bar along with your prices.
Let’s face it: selling lower-priced art is safer. There are many more people in your pool of prospective buyers at the low end.
But I can’t believe that your goal is to appeal to the masses. You, like my clients, surely have big dreams, and that means selling big art at fair prices.
So I have to ask … Are you running to this safer place of inexpensive art because you’ve been inconsistent with your studio practice, marketing, exhibitions, and networking? In other words, are you producing “more affordable” art because you don’t want to do the work required to sell your best work?
I probably don’t have to tell you that selling only original works of art doesn’t always pay the bills. Sales can be seasonal, galleries can shut their doors, or the economy might tank.
This is why I am all for artists having multiple streams of income – when it makes sense.
Multiple Income Streams for Artists
An income stream is a source of money.
Your income streams might include employment outside of your art business, but I’m going to focus on diversifying how you make money from your art.
Selling original works of art is probably the most appealing way for you to make money from your art. Other avenues include, but aren’t limited to, teaching, licensing, and selling reproductions.
Sometimes multiple income streams go together.
For example, if you teach art, there might be money from both online and in-person classes. Additional funds might come from how-to books and information products.
They’re all information based and marketed to the same audience.
Likewise, you could probably market products with your art on them
If you would like to increase your income in 2015, you must take charge of your art business.
You have to stop waiting for things to happen and start putting all of the pieces into place, so that the good stuff can settle in.
Liz Crain, Clay Dollars. Dollar bills, clay slip, underglazes and underglaze pencils, electric oxidation, 2.5 x 6 x .25 inches. Used with permission.
Money doesn’t just appear when you need it. You have to work for it. [Tweet this.]
In my experience, one of the best things you can do to improve your chances of making more money is to create a plan: an income-boosting plan.
Where Is The Money Coming From?
In order to boost your income, you first have to know what it is, historically, and where it came from.
For the purposes
So you have heard about this thing called “art licensing” and it sounds pretty good! You can earn income by licensing the same art to multiple manufacturers to use on different products. “Sounds great!” you think. “Where do I sign up!” you ask. “Hold onto your paintbrushes!” I say. Before you start putting a lot of time and energy thinking about the dream that is art licensing, you need to understand the reality of how to succeed in the industry.