When Artists Raise Prices Too High: A Pricing Guide
A friend of the author, an artist, increased prices by over 30% after a successful year, only to see sales plummet. The author notes this is a common scenario. While art world norms discourage lowering prices, the author suggests that if after a year sales remain slow and income drops, artists should reassess prices to market-friendly levels. The article offers strategies to lower prices without damaging market integrity, part of Art Forecast's ongoing series on artist pricing. The series includes parts one through three on pricing guides.
Key facts
- An artist friend raised prices by over 30% after a successful year.
- Sales slowed significantly after the price increase.
- The author knows other artists with similar experiences.
- Art world 'best practices' discourage lowering prices.
- The article suggests reassessing prices if sales are slow after a year.
- Lowering prices can be done in ways that maintain market integrity.
- This article is part of Art Forecast's series on artist pricing.
- The series includes parts one, two, and three.
Entities
Institutions
- Art Forecast