When difficult economic times seem to knock down art sales, I wonder why the price of art can't be flexible like the price of housing or gas? I realize that when artists are working with galleries that their retail price needs to stay rigid, so that collectors will pay the same price for an artist's work at any venue for that artist (including the artist's web site). I also understand that if galleries and artists lower their prices, that galleries probably won't be able to pay their rent, electric bills, and for ads - the price of these things never goes down.

With a 50% commission, if the price goes down too much, nobody makes any money with a sale.

But here's my question: If I, an artist who is currently selling through my own efforts, decides to keep my prices low or offer some works at bargain prices (maybe 25% down from regular), is there any reason why I should not do that? Is it ethical? I am not going below my previous gallery prices because my gallery sales took place a few years ago and those I've sold recently via galleries were priced very low as well.

One of my galleries routinely raised prices on artists' work - in this case, it was done ethically. The gallery dealer let the artist know about the higher price and paid the full 50% commission of the final sale to the artist. So... no problem there.  But wait a minute! Now the retail price of that artist's work has gone higher and higher, and it cannot be lowered... ever?  Not even during economic downturns.

Then the boom goes bust, and artwork seems too expensive and just sits on gallery walls. When the housing boom went bust, the price of homes came a tumblin' down, but not so with art prices. So some of these artists, who were doing fairly well in previous years, now can't pay their bills. So what's an artist or gallery dealer to do?

I really don't know that answer...  But here's my Question!

Why can't the price of artwork be flexible - especially in the middle range. If folks know that they can get an artist's work for less during down times, won't it spark a buying trend? Then when more money is flowing later, the artwork will increase in value (yeah, I know I already said that), What about the law of supply and demand?  Demand is down for certain price ranges right now. I've heard from a dozen or so artists who've had successful careers but their sales have dropped off drastically.

However, there ARE artists out there whose pricing is flexible, and they're doing OK. For example: a few artists I've been conversing with who sell on Ebay have not experienced a drop in sales - just a drop in what people are willing to bid, but the number of sales are nearly the same. So those artists are making "some" money, while some I know, who just deal with galleries -- well, sad to say, haven't sold anything in months.

This isn't to say that there aren't plenty of folks out there still buying art right. Some artist have seen an increase in sales. Jeremy Lipking has had a great year! Artists who've made a name for themselves on a national level, don't seem to be affected, but what about the rest of us?

I'd like to hear from some of you - see what your thoughts are on this issue. Don't be shy now...

Lori

 

Yes, I'm still thinking about how email is affecting my productivity, and I'm finally finding ways of controlling my addiction to it. Doing very well today, so far.

The more often I check my email, the more likely I'll feel disappointment.  Each time I hit the "Check Mail" icon, I'm reminded of Vegas Slot Machines. If they are called One Armed Bandits, perhaps my email should be renamed  a One Click Bandit.  It doesn't steal my money... rather I spend time and emotion on the outcome of that click. Wait a minute... maybe in the long run it does steal money -- when it steals my productivity. I'll have to give that thought more consideration.

When I get new mail, especially something exciting, I am thrilled. It's not long before I'm wondering if there is more excitement waiting in my inbox, so I start checking it again and again -- just as though I were waiting for those three apples to come up and the coins to fall into the dish. Who knows, I could get really lucky!

But alas, when I hit the icon, hoping that an intriging message has been anxiously awaiting my reply, I am often left with utter disappointment. "NO NEW MAIL" It's like running out of tokens for the slot machine without having won anything. Sometimes, I whisper to myself, "Nobody loves me".  That's nonsense...  Why do I bother to go there?

Solution: let my inbox fill up during the day - like a bank account, let it grow.  (give me slack on the bank stuff right now)... you get the analogy. There's a higher chance of my receiving at least one fun or interesting message after 6 hours of not downloading. Alternately, by investing my time in work activities that are sure to bring lasting joy and satisfaction, I'm apt to have greater self-respect. I can then whisper, "I love me".

More to come on Time Management solutions - probably Thursday on www.fineartviews.com
Same Blog Time, Same Blog Channel.
Most sincerely,
Lori

Yesterday, I was made aware of the fact that there are still artists out there who feel guilty about making income with their artwork. I know at least a dozen wildly successful artists who make art for the sheer joy of it, and they make a darned good income too. They are not ashamed to get good pay by folks who may someday donate it to a museum or pass it on to their progeny as a cherished heirloom.

While some collectors buy art as an investment, the majority of art sales take place because someone falls in love with the work and has the means to purchase it. That's why we artists who are in the business of making art for sale owe our collectors our best efforts. I am elated when someone buys my work -- knowing that my painting has a good chance of bringing joy for... what... maybe a few hundred years. AND if it pays my bills while I'm alive at the same time, that's the icing on the cake!

 For those artists who still feel a twinge of guilt after reading this blog, making income from my work also allows me to buy the best materials and make more artwork without going into debt.

Sincerely,
Lori