Are your prices too high or too low?
Goldilock’s principles rarely work in the art industry. There is no such thing as just right when it comes to pricing art. It’s an art form all on its own.
At the same time, if you stray too far in either direction, you will struggle to make sales. But what you might not realize is that you will struggle more if you underprice your work then if you overprice it.
And that concept is what is covered in this week’s episode.
Please share your thoughts in the comments. Pick a question or answer them all. Do you think you have the right prices? And if so, why? How did you arrive at your prices? When was the last time you raised your prices? What is your biggest challenge with getting a proper livelihood from your artistic endeavors?
As promised, here’s a quick look at my work. Can you guess what is priced at $26 and what is priced at $275?
Another great post McKenna! Thanks so much for the reminder of how the price of our art has a perceived value.
You pack so much experience and wisdom into each of your posts! I am usually painting while listening and not able to text a message.
Late in responding – my settings are weird for my site??? Anyway… Mahalo for your comment. Love that you are enjoying my ramblin’ chats. 💋
I’m listening to your newest podcasts and catching up on previous ones. The aspect of perceived value made sense and added a new layer to my thinking. The the temptation to price my work too low is a strong one but you shed some light, which I think will help me, on that today. Thank you for your thoughtful, helpful podcasts.
It’s one of the harder issues that artists deal with, Jennifer. I’m glad my podcast is having a positive effect. If you get a moment, consider putting that review up on iTunes. It would help others who are considering whether to listen or not. THANKS!