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Question
from a newsletter subscriber:
Q:
Your past issues of your newsletter encourage artists to lower
their prices in order to increase sales and become more
competitive. My prices are comparable to those of other artists
in my area and they always have been. Do you mean that they
should be even lower? How much art do you find in these really
low price ranges?
Thanks
for taking the time to do this your newsletter is full of
excellent information.
A:
Regarding your first question, how you decide to set your
selling prices is entirely up to you. All I say in my newsletter
is that lower priced works of art, no matter what they are, tend
to sell faster and in greater quantities than higher priced
pieces. Adjusting your art prices in any direction makes a
decided difference to your sales; the greater a downward
adjustment, the greater your sales volume tends to increase.
Lowering your prices is only a suggestion, though. Do whatever
feels comfortable.
The
trick to lowering prices, if you decide to lower them or in
providing lower priced alternatives to your more expensive works
of art is not to degrade the lower priced pieces in the process.
No matter what people buy from you or how little they pay for
it, they should always feel that they are acquiring art that is
as collectible, well-crafted, thoughtful, and worthwhile as your
more expensive pieces. Lower priced pieces may be smaller,
sketchier or whatever else you have to compromise on in order to
produce them, but one thing that they should not be is inferior
in quality.
I
have seen too many artists deliberately sabotage their lower
priced works; this is not good business practice. The best way
to cultivate repeat buyers is to respect their choices, their
budgets, and their reasons for buying the art that they buy. You
never know when a buyer who starts out small might go on to
become one of your biggest collectors.
In
answer to your second question regarding the availability of
reasonably priced art in the marketplace, there's an incredible
amount of art for sale out there that can be had for well under
$300 per piece. You can literally choose from tens
of thousands of lower priced work on the internet.
By
the way, if you're selling on the internet, you'd better have a
good selection of reasonably priced works of art available for
purchase. Even the major art websites report that their average
sales are only in the $300-$1,200 price range. Sales over $2,000
to $3,000 are still relatively uncommon online. People are just
beginning to get used to the idea of shopping for art over the
internet-- help them out by giving them the option of starting
small without having to risk too much money. That said
watch out for the impact on internet sales from China. This
is going to be a big boom to North America web site business.
You
also mention in your email that your prices are competitive with
those of other artists in your area. Do you mean all other
artists in your area or just those artists you know? And if
you're selling online, do you mean all other artists online or
just those whose websites you're familiar with? What you may not
be taking into consideration is that people also buy art from
artists you don't know or are not familiar with. You have to
keep the big picture in mind, especially with the advent of
online selling, and continually compare your prices to those of
all available art in your area as well as on the internet, and
not just among your particular circle of friends or
acquaintances. The more art selling situations that you can be
competitive in, the more art you're going to sell.
As
I have said in previous newsletters, you cannot find out too
much information on competitive art, to make yours move. The
type of art that is selling is every bit as important as the
price. Make time to visit art galleries on a regular
basis.
(Watch
for more information on tips to be competitive in an upcoming
newsletter).
David
Brougham
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| This gallery shows examples of some of our most recent work, including traditional watercolors and more modern abstract subjects. Click on other subject galleries to see more of our paintings.
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Treeline Studio
70-4125 Interurban
Victoria, B.C.
V8Z4W8 Canada
Phone:
(250) 479-7885
Fax:
(250) 704-1056
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TreeLine Studio Victoria, B.C. Canada
