In a previous post (Selling Your Art – The Pricing Formula) I discussed the German “artist factor” formula to price a work. This is a very helpful system to estimate your work, especially for artists entering the market for the first time.
But let’s be honest, we know that it takes more than a good system to become successful and convince people to buy your art. Mostly it is about what collectors are willing to pay and how you good your gallerist is at negotiating.
Rules for pricing your art:
In order to maintain your market value, consider these rules:
- No Supersale deals
- Same size same price (unless the work is from a different period and you have since advanced in your career)
- Do not lower prices from one year to the other
- Avoid the “my art is not expensive” attitude
Also, never, never, ever, sell art at discount prices from your studio. This will jeopardize your credibility and the relationship with your dealer.
By following the above rules for pricing your art, you will signal to the market that you are building a consistent career with positive evolution potential. In a gallery context, it is also a trusting signal from the gallerist that he believes in the value of the work. Still consider that the art market itself remains unpredictable. It is up to you to find the right balance between selling a lot at medium / low prices, or to a select few at high price.
Also, consider how pricing your art fits into the “big picture”. In my workshop Outside The Studio, you’ll get practical information on the protocol, conduct and temperament of the art world. In a total of 9 sessions, the workshop builds on your individual strengths with a hands on approach, based on my knowledge and personal experience from the artworld:
The workshop is divided into three main sections, each with 3 chapters for a total of 9 teaching modules (ca. 180 minutes total). Each section comes with a worksheet, templates and practical assignments. Sign up for a free workshop outline at the bottom of this page.
We first cover “Meeting the Artworld”, looking at the interaction between the contemporary art market. The second part focuses on “Your Work Outside the Studio”, discussing how to document your work, creating a bio / CV and finally, how to promote yourself elegantly. Lastly, we get to “You Outside the Studio”, looking at the particular networking skills required in this business. This section covers the art of pitching, how to make the opening night a success and follow-up on new contacts and finally, preparing for a studio visit.
- Insight to the “Big Picture” of the art market
- Professional artist management methods
- Further clarity and strategy towards career goals
- Communication skills
- Confidence and motivation