Should Artists Start Discounting Their Art Today?

(Transcript)

So a lot of artists are asking me should I discount my art now given the current environment?

Oh my God, I’m gonna give you three reasons why you should never discount your art regardless of the current environment.

As soon as you discount your art, you devalue it. I mean think about how long and hard you have worked to get to a place where you can sell your art for a certain price, a long time.

Now, it’s a small world and collectors talk to one another. So if you decrease the price if you discount your art the word gets around and those collectors who supported you and maybe even referred you to other collectors they are wondering why you charged them one price and now you’re charging someone else another price.

So what do you do when someone asks you to sell them your art at a discount? You know, I say, ‘in fairness to all of my collectors, I never discount my art.’

And I would pause a little minute and let that sink in because it’s not fair. Right.

Truth is the best marketing strategy.

It’s not fair. And then what I say is, ‘actually my prices are about to go up so now is a good time to buy.’ Now they’re going to go away because they had no intention of buying your art anyway, or they’re going to go, oh, okay and then they’re going to buy your art full price.

If you’re not confident in the price of your art then you can’t expect anyone else to be confident in the price of your art, so instead of discounting, what you want to do is look for ways to add value, and that could be free delivery and installation or that could be taking a digital photo of the wall or the space where they want to install your art and having a digital overlay of your art placed in that space so they can see what it looks like.

That’s an easy way to add value if you’re not real Handy with Photoshop, you can go to fiver and have someone do it for 5 or 10 bucks.

You know, is that your best price. Well, the painting still hasn’t sold.

Is the price negotiable and I just said no, it’s not. $25,000. So empowered, I can’t even tell you.

My sales have increased in a way that I could not even have imagined.

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