Should pricing your art be based on the region where you show or sell?
How transparent should your pricing be?
It doesn’t matter where you are in your art career, you’re likely to be confused and uncertain about pricing your art. That's why I developed a free guide to that examines 9 factors that affect pricing, 3 methods for pricing, and the 2 golden rules. Click here to download.
A couple of months ago ONE of you suggested that we artists should make an inventory of our work for OURSELVES. As I recall, it was mostly to set in our minds just how much work we had on hand to sell and to fix there a general over all picture of what the uniformity of it was such as for prices etc. Okay, I took this advice and made this sort of use of it. As Clint suggested, I also went and added all these prices to my web site.
Then last weekend, I went to visit a few new galleries and as part of my introducing myself, I provided a copy of it to two of the most likely gallery owners. The response was positive from both of them and the primary gallery owner even thanked me saying it was very helpful. This is where I wondering if this is likely to be something I one day regret making a practice of. First of all, my prices being open to all in my web site make it impossible for me to price higher in a gallery in a wealthy area than one in a lower priced real estate town. I'm in both already! Secondly, I have been thinking that I am being too open handed with these NEW to ME gallery owners who will surely rank me among other art providers in worth and use to them as sources for their products.
Perhaps as I write this I am thinking that I must simply TRUST my gallery owners if I am ever to build a working relationship with them but IS THERE A WAY TO DO THIS and a way NOT to?
There is too much secrecy in the art world. In fact, there are whispers about some sort of regulation since the art world is infamously unregulated and shady deals abound. So, I’m all for being up front and transparent with your prices.
I teach artists that there should be only one price for your work–regardless of where you sell it. I understand the temptation to price it differently for different locales, but can you imagine if one of your collectors purchased it at a higher price and then later saw that they could have bought it less expensively? They’d be furious–and rightly so. Having consistent pricing is a key component of developing trust. Which brings me to . . .
Yes, you should trust, but that trust and respect has to be mutual and the details should be outlined in writing at the beginning of every professional relationship.
What do you think? Please share in a comment below.