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]]>Back in 2006, I wrote a post about when to post your prices.
Times have changed and I want to make sure that you have my current view on this topic.
If You’re Looking for Galleries
Many people will tell you not to post your prices if you’re looking for galleries to represent your art. Their reasoning is that galleries won’t want to see you trying to sell your work on your own.
I believe this is old thinking.
A good gallery shouldn’t fear artists trying to sell their work. On the contrary, they should be thrilled that artists are doing everything they can to drive sales.
In an interview, a prominent Santa Fe gallerist told me in no uncertain terms that she WANTS to see prices on a site. She says that without prices, she doesn’t know if the artists would be a good fit for her space. If there are no prices, she’s forced to take the extra step of contacting the artist. This is too much trouble!
If you are represented by galleries already, make your galleries happy by posting the phrase “Available through X gallery” underneath corresponding images. Ask your gallery whether or not they want you to post the prices along with that phrase.
Websites, Blogs, and Social Media Sites
YES! Post your prices if you’re trying to sell your art.
Some artists say that withholding prices encourages serious lookers to contact them. They think they have a better shot at a sale if they can talk to the interested party.
I believe not posting prices sends the message that either the work isn’t for sale or it’s too expensive.
Exhibitions, Open Studios, Art Fairs & Festivals
Again, yes! Post your prices if you’re trying to sell your art.
Don’t force people to ask. They usually won’t.
Make it easy for people to say, “Yes! I want it!”
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]]>Seems like that’s the way most are operating these days.
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]]>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.
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 you’re paying yourself $1.50 an hour. Stop that!
2. You compared apples to apples and yours is the rotten one.
When you compare prices, look for similarities in style, sizes, and medium by artists who are at a comparable point in their careers. Also (and this is often overlooked), make sure their art is actually selling! Prices don’t mean a thing if the work hasn’t been selling. If you go through this exercise and find out that your art is the cheapest, consider it a wake-up call. Being the cheapest is not necessarily a good thing.
3. You can’t keep up with the demand for your art.
Helloooooooo. If you can’t make enough work to fulfill commissions and orders and maintain inventory to show at galleries or art festivals, you need to raise your prices. It’s the law of supply and demand. (Hey, I remember something from my econ classes!)
4. You discover uneven pricing.
If you look at one of your price sheets and notice that there isn’t enough difference between two sizes or two disparate media, consider raising the prices of those that seem too low.
5. You have or have added work that requires more effort.
Some artists have art that they consider easier. It’s faster to make and might even be formulaic. These are on the low end of your pricing scale. Then there might be another line that requires more research and attention to detail. You would charge more for this work. Ditto for commissions. Whenever a project requires that you create sketches, maquettes, or make a client happy, charge more!
6. You’re dejected.
You know you aren’t getting paid for what your art is worth. You’ve earned your stripes selling art over the years, and you’re tired of hearing how “affordable” the work is. It turns your stomach to sell your art so cheaply. When you no longer enjoy making or selling art, it’s time to make changes.
FINAL WORD: Pricing is one of the most difficult decisions for artists to make. While raising prices in tough economic times seems counter intuitive, you always want to be sure you are being paid what you’re worth.
Enjoy this week’s podcast–an audio version of the above post.
[powerpress url=”http://artbizsuccess.com/audio/increaseprices.mp3″]
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I asked my friend Gail Kana Anderson, who is a longtime museum registrar and now interim director of the Fred Jones Jr. Museum of Art, about the insurance values they require from artists who exhibit in their museum. Here’s what she said:
We ask only for insurance (not retail) values since we are not in the business of selling art. If the artist has a history of sales, the retail value and insurance value might be the same. Otherwise, as is the case with work in our annual student exhibition, the insurance value might be the costs that went into the work.
Image: William Baziotes, Flower Head, c.1940s. Collection of the Fred Jones Jr. Museum of Art, The University of Oklahoma.
(State Department Collection, Purchase, War Assets Administration)
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