It can feel like a real nail-biter to set your prices. Especially with a new body of work or if you haven’t been focused on selling your art lately.
During the last workshop I presented on how to price your art, the huge room was so full, we nearly ran out of space for all the chairs we kept adding as artists rolled in. So I know that pricing is a task that we are all keenly interested in getting figured out.
I also know from firsthand experience and from the clients I work with that a lot of mind drama can come up around pricing our work. So much drama that many of us avoid pricing our work until we absolutely have to. And often, that moment when we price our art, is when another human asks us during an opening, “how much is it?”
Panic can set in at this moment. Looking away for divine inspiration is usually the artist’s response. And then a number comes out of our mouth that immediately feels cringe worthy.
Have you ever experienced something like this? I have. And it sucked.
The buyer experiences something totally different.
They have no idea that you have been avoiding putting a final price tag on your art for weeks. And may not be able to fathom that you’ve got a whole public event dedicated to showcase your art that’s seemingly for sale but have just procrastinated on creating prices.
Buyers can feel this moment in a totally different way. That pause of you reacting slowly to their question can be mistaken for something other than you looking for courage to spit out the price you were kind of considering.
They can feel like they’re being sized up for what they can spend. In that moment, they can start to feel like they’re being fleeced.
When you don’t have your prices ready, even if it’s from a place of fear of over- or under-pricing, or that you just ran out of time to get to it, know that you’re setting yourself up for disappointment.
Potential buyers don’t like to feel like they’re being sized up when they ask for the price. For some, even asking the price feels like a slightly scary thing to do. As consumers, we’re used to things having price tags on everything. This is naturally part of our buying process.
When your prices aren’t readily available, you’ve created friction for your sales and usually people will assume they can’t afford your art. Or they get distracted and fall out of the buying process entirely
No one likes to feel like they’re being sized up. Heck, I can feel that way at a yard sale or the farmers market where the stakes are pretty low. I just don’t like shopping that way. And your collectors don’t either.
So, can you make it easy for them to buy your work?
If you want to avoid this from happening, you can take action now. Here are a few simple steps to get the ball rolling:
Pick one piece that you’d love to sell.
In 3 minutes or less, write down an amount that would feel really good to get for it.
Sleep on it.
Come back to it and adjust that number based on if it feels too high or too low.
Rinse and repeat until you feel like you’re pretty close to the right amount.
This is a low pressure way to help you figure out what the right prices really are.
With this, you’ll be able to price your work in advance of that upcoming opening or open studio event. And your sales may increase because you’ve made it easier for your buyers to feel comfortable purchasing your work.
In the comments, let me know what questions you have around pricing. I’d love to help you feel confident with your art prices.
Cheers,
Kate