Top Ten How to Price Art Tips
Keep more earnings
You can't set prices in a vacuum. Know your competitors. Understand your market.
3. GOLDILOCKS THEORY
Make your prices neither too high nor too low. Set them in the middle to be "Just Right."
Keep your prices consistent across all your distribution channels. Use the same pricing scheme for setting your prices in all channels.
5. BE FAIR TO YOU
Don't throw away profit by charging lower prices to direct buyers than to galleries or other vendors. Don't give your art away.
6. USE MENTORS
Seek the advice of knowledgeable industry professionals who you respect.
Do the research
Get in the sweet spot
Harmony in pricing
7. PRICE RANGE
Widen your product & price point range to broaden awareness and generate more sales. They all count.
8. MASTERPIECE THEORY
Create a Masterpiece with much higher price than usual. Use it drive up your price range. Thus making your mid-range more attractive.
9. RAISE PRICES REGULARLY
Set a schedule to raise your prices. Twice per year for new artists. Once per year for established artists.
10. KNOW YOUR PRICING STORY
Practice to say your prices and explain the why of them to buyers with confidence. Confidence is contagious. It sells art.
Don't cheat yourself!
To go alone is not advised
Use the big tent theory
How to raise prices
Publish your pricing plan
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