How to Price and Sell Lower Priced Art
Q: You often encourage artists to lower their prices in order to increase sales and become more competitive. My prices are comparable to those of other artists in my area and they always have been. Do you mean they should be even lower? How much art is for sale in these really low price ranges?
A: Regarding your first question, how you decide to set your selling prices is entirely up to you. Lower priced works of art, no matter what they are, tend to sell faster and in greater numbers than higher priced pieces. Adjusting your art prices in any direction impacts your sales; the greater a downward adjustment, the more you generally sell-- a suggestion I regularly make to artists who want to increase sales and get more of their artworks out into the public. You can still offer higher priced works of art alongside the lower ones; you don't have to drop prices on everything. Lowering your prices is only a suggestion though. Do whatever feels comfortable.
Keep in mind that for most artists, an important part of what they do is selling their art, and better yet, selling plenty of it, and by so doing establishing good solid consistent track records of making sales on a regular basis. Think about it. What sounds better? That you sold ten pieces last month? Or one? Or none? If you tell someone you're selling ten pieces of art per month, they don't care you how much you're selling them for; they're just plain impressed that so many people are buying. Who knows? They might even decide to buy a piece themselves. Keep in mind also that gallery owners love hardly anything more than artists who sell well.