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?

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Don't Confuse Price with Value

Price Tag

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

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Raising Your Prices: A Lesson for Breaking the News

Wendy Edsall-Kerwin faithfully sends a tri-fold newsletter about her metalwork 8 times a year. Her Winter 2011 edition caught my eye because of this article, in which she shows collectors why she must raise her prices

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Guidelines for Pricing Your Art

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.

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Pricing for Art Consultants :: Deep Thought Thursday

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?

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A Template Letter for Informing Collectors of Price Increases

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!

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Putting Your Art on Sale

Michael Newberry, Himalayan Flight, oil on linen

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 to valued collectors as well as to museums. So why can’t artists have their own sales? You can with the right strategies in place.

©2010 Michael Newberry, Himalayan Flight. Oil on linen, 36 x 48 inches.

First, consider any ramifications your sale would have on relationships with gallerists, collectors, or retailers. Plan accordingly with the following 8 tips in mind.

1. Have a reason for the sale. It can be an anniversary, holiday, birthday, or moving

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Art Marketing Action Podcast: Putting Your Art on Sale

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.

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Informing Collectors of Price Increases <-Deep Thought Thursday

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?

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Increase prices for your art (perhaps)

Keith Bond

It must be something in the air. Pricing art has been on the minds of a number of my clients in the last few weeks. Almost all are interested in raising their prices and almost all of them should raise their prices.

Raising prices isn’t something I take lightly or recommend frequently. In fact, just a few weeks ago I was at an exhibit and was aghast at the high prices on one emerging artist’s work. Increasing your prices happens only after you’ve taken into account a number of factors. Here are six to consider.

Keith Bond, Oakley Winter. Oil on linen, 20 x 26 inches. ©The Artist

1. You did the math and it just didn’t add up. You finally sat down with a pencil and paper and figured out that

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