Pricing work in a down economy

[Karleen Loughran]

I am interested in hearing how other artists price their work particularly in this down economy. My show is coming up and I am uncertain what to do about pricing the work now. Any thoughts would be greatly appreciated and will be taken seriously!

[Richard Solstjarna]

Well, start with have different sizes and of course the bigger ones you can have considerable higher prices on. Keep the smaller sizes at a lower price than normal, at this times. And, maybe keep the smaller ones at a lower price at a/this particular occasion or at a/the vernissage! And If you work on paper as well. See to it that you frame the paper work and of course the smaller paintings. And/or frame 1 or 2 so the people who are coming can see how it may look like framed. In the end it is a matter of which taste the buyer have or how it look like at their home or office. If it´not a collector or gallerist.
Also do/bring PRINTS, what ever you´ve got. Then the pricing will make sense for everyone, a print versus an original and the different sizes. And, also make shure that if someone is interested in several paintings, leave a discount. Discuss this with the gallerist when you´re doing an exhibition.
Good Luck!

/Richard

[Karleen Loughran]

Great advice! Thank you Richard!

[Richard Wynne]

Hello,
I just returned to the USA after 35 years away so I really don't know much about local prices. But in Asia and much of the World there is a bargaining mentality. If you price your work too low there is no room to bargain. I do cut prices but there has to be a reason such as:
1. Buying more than one piece
2. They really love the piece and cannot afford the price.
As I am starting all over after being known else where I am still holding my prices. As the old blues goes< "If I can't sell it I'm gonna sit on it!