This morning I received an email from an artist who was advertising "significantly reduced prices" on his paintings. It was obvious he was suffering from a shortage of sales during this pandemic and needed to produce some income. The tone of his message was one of desperation as he offered to slash prices to attract buyers.
Clearly, he was coming from a place of fear and lack. It was apparent he believed his potential customers felt the same way, and they would not make a purchase unless they got a terrific deal.
Is that true? Is discounting the answer to making art sales? I would argue it is not. Many people are unemployed or have had their businesses forcibly closed by a government intent on controlling the spread of the pandemic. Logic tells us those people are probably not buying art at all; they are focused on feeding their families, paying their rent, and getting back to work as quickly as possible.
Other people are fully employed and earning their regular income, while some may be fortunate to be in an industry that is thriving at this time. Those people are more likely to making purchases of all types, including art. Do they like to get bargains? Sure. But that's not why people buy art. Art is not a commodity item - it doesn't sell because it's cheap. Art sells because the buyer loves it and wants to own it and live with it. It sells because it is meaningful and relevant and because we connect with it emotionally.
Rushing to discount is part of a mindset some artists have because they are suffering financially and assume others feel the same way. But are your collectors just like you? Probably not. One artist I know laughed and said, "I could never afford to own my own work." She knew her collectors had a different life experience and the ability to easily make multiple purchases of her paintings if they wanted. Rather than make assumptions, she learned she needed to understand their thinking and their motivations instead and build relationships with them based on that understanding.
If you feel you don't have time to build relationships but want to come up with a strategy to sell more art in the short term, consider some other options. If you want to offer a bigger price point spread, you might want to create "small works" that are more affordable but don't discount your price per square inch (if you use that formula). Or, you may want to offer reproductions that carry a lower price tag and that may pull in new customers who love what you do but don't have the means to buy your originals.
If you want to give an incentive to buy now, you might offer free shipping or another extra, such as a base with a piece of sculpture or a book of your artwork with a purchase. Focus on conveying value rather than lowering the price. Do you send a Certificate of Authenticity with the purchase of a painting? Is your work signed and beautifully packed? Is it ready to hang? Do you offer gift wrapping or a special service?
Then, get out there and market your art like crazy. Ramp up your marketing rather than cutting those costs out of a fear mindset. Get your work in front of people as often as you can and pull in those customers who appreciate and connect with what you do and want to own it. Art is vital to the world. It's important to our lives and our emotional health. And we could all use some of that right now!
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