Pricing

Anna Fine Foer collage

The Art Biz ep. 177: Why You Should Raise the Prices of Your Art and How to Do It

Two things are clear when it comes to pricing.

First, it’s a struggle for most artists. And, second, there’s a good chance that your prices are too low.

The difficulty with pricing art is legendary. You’re not the only one who doesn’t have it all figured out.

Fear not! In this post and podcast episode, I give you 5 reasons to raise your prices and then thoughts on how to do it.

The Art Biz ep. 177: Why You Should Raise the Prices of Your Art and How to Do It Read

Collage by Kimberly McClintock

The Problem With Lower Price Points For Your Art

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?

Have you given up on selling at that higher price because you believe it’s too difficult? Maybe the cheaper stuff will be easier to sell, you might think.

I have no objections with making art in a variety of sizes or offering reproductions of your art, especially if you’re selling a lot of work and can’t keep up with demand.

What I object to is your playing small and safe.

The Problem With Lower Price Points For Your Art Read

Price Tag

Don't Confuse Price with Value

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

Don't Confuse Price with Value Read

Guidelines for Pricing Your Art

Here are a few general rules for pricing your art. Just a quick glimpse for those who are beginning to explore this difficult process.

    1. Your prices must be consistent. People shouldn’t pay less at your open studio than they do at a gallery. You have one price and should never (never ever) undersell your representatives.
    2. Start on the low end, while paying yourself enough. You can always raise your prices. It’s nearly suicidal to lower your prices later and it won’t make your current buyers happy at all.
    3. Don’t forget to pay yourself a wage! The most common mistake artists make is forgetting to pay themselves. You have to cover overhead and materials, but you also need to be compensated for your time.
    4. Attach higher prices to originals and larger works. As a general rule, originals are priced higher than reproductions and larger works sell for more than smaller works.
    5. More expensive materials (bronze, precious gems) command higher prices.
    6. Click for 5 more tips.

Guidelines for Pricing Your Art Read

Michael Newberry, Himalayan Flight, oil on linen

Putting Your Art on Sale

All artwork must go! Select pieces up to 50% off! No reasonable offers will be refused! Sounds like the giant art sale at the airport hotel, huh? Loud sales proclamations just don’t work well when selling fine art. Mentioning SALE seems to cheapen the art. But we do know that even high-end galleries offer discounts

Putting Your Art on Sale Read

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