Should you lower prices if you aren’t selling?
For first-time exhibitors, pricing artwork is often a last-minute, difficult decision. It’s daunting to assign value to your own work. Do not make common mistakes and go straight to an hourly wage pricing, by taking your art and charging a price based on hours and materials. The reason this does not work is because an artist is not a factory! Taking time, materials and overhead costs to create price is the fast and loose pricing model but is not perceived well by an audience of buyers.
Cost of materials is always important, when trying to make a profit or breaking even as a new artist. The real consideration should be on the perceived value a piece creates for its audience. You can visit a gallery with artists similar to your style and get a rough idea of what pricing looks like in the area you are selling work. The other aspect is asking potential buyers and art admires how they feel about the price of the pieces currently being displayed. This allows a new artist to gain insight into the market they are selling in but also helps to highlight how artists should market themselves to create more value !
Perceived value is the additional value that the client attributes to your work regardless of its intrinsic value perceived by the creator. Perceived value is subjective and heavily influenced by the artist’s image, word of mouth and portfolio. If given a choice between two similar paintings, clients are frequently willing to pay more for the one with greater perceived value. If you are selling copies of originals online or in galleries a buyer is going to perceive the value and price as lower, hence lower prices are needed. If a piece was particularly difficult to work on, or you are particularly attached to it, there’s a tendency to want to price it higher. Raising prices by 10 to 20 percent is a good starting point for pieces that you are willing to hold in your inventory for a longer time.
Some artists price artwork based on size because of the perceived value, either by the square inch or the perimeter because the idea makes sense to buyers looking at other art in similar markets. Pricing based on the perceived value starts with the artist and their story. To buyers, the artist and the story behind the art certainly drives the motive for buying. Make sense of your story as an artist before pricing and selling art work. Improve your sales with a healthy dose of self-promotion. Telling your story, and your artwork’s story, increases its value, becoming a contributor to a blog like Art Storm can help share your story. Customers will pay extra for the familiarity and confidence that the artists brand has, so do not lower prices just yet!
Our featured artist is Barbara Bobes, fine art photographer:
"My photographs are about Light and Shadow. I use natural light to highlight forms, soften or dramatize line, create space, or to silhouette an image...A Sense of Place is what I try to convey in my photographs. Wherever I am there is a mood or feeling in the environment that I wish to capture and extend to the viewer."
Visit the artist's website at http://www.bobes.com/
Our featured art is by painter, Veronica Thomas, showing a beautiful and colorful sunset at the coast. To purchase or to see more fine art by Veronica Thomas, visit her website at http://veronicathomasart.wix.com/art-1
Our featured art is a beautiful sunflower painting by artist, Yelena Joy. Visit Yelena's website at http://www.joyfullart.com/ to purchase or to see more art.
Featured art from our featured artist, Kathleen Hoevet. Kathleen is a photographer with an exceptional eye for natural beauty. Visit Kathleen Hoevet's web site at http://kathleenhoevetphotography.com/
Our featured artist is Pam Haunschild. Take a look at all of Pam's great art at her own website at http://pamhaunschild.com/
Wonderful art from one of our wonderful artists, Lori Garfield. To see more or to purchase, visit her site at http://lorigarfield.com/
Veronica Thomas is at ArtExpo NY 2014. Congratulations, Veronica, and good luck!
Visit Veronica's website at http://veronicathomasart.wix.com/art-1
Sculpture by Nickolas Sanjek: "...it is a rare sort of limestone,with marble characteristic,from Austrian Alps.
It is original handmade sculpture that was sculpted very high about 3000meters in mountains of Tyrol, Austria,directly where the stone was found,on place.
The sculpture is sort of a tribute to life and art."
Artist Linda Katzen has notified Art Storm that she has new ink paintings on her website at http://www.lindakatzen.com/. Please take a look...
BTW, this is what Art Storm does...let us keep your name and your art in front of the art world. Great artists need great art marketing!
Today we feature artist, Dana Feagin, who creates marvelous paintings of animals.
The featured art piece is "Sweetcheeks", an oil painting of a rabbit (or is it a hare?) that perfectly captures Dana's style and love of animals. Dana donates 10% of her proceeds to local animal shelters and rescue groups where she also volunteers her time.
Click the image below or go directly to http://www.artstorm.com/danafeagin/ to see more of Dana Feagin's work.
Welcome Elaine Frenett, we're proud to have another fine, local artist associated with us.
"Originally from Colorado, where light and color travel the entire spectrum, Elaine grew up a simple tomboy. Maturing with avid nature exposure and expansive travel, she eventually found herself, back to the simple dream . . . of becoming an artist. After moving to California, Ms. Frenett committed to a five-year program at San Jose State University, where she received her BS in Graphic Design, focus in Illustration in 1991. As a freelance artist, her work has been published from New York to Los Angeles..."
Welcome to the Art Storm, Barbara Bobes. Barbara is a fine art photographer who describes her art this way...
"My images focus on the art and patterns of nature, ranging from landscapes to the more abstract. I am always looking for the transformative effects of light and shadow on a subject, creating an extraordinary moment that may never be viewed in the same way again."