Why You Should Increase Your Art Prices & How to Get A Clear Art Pricing Formula
Episode 26 Show Transcript - Empowered Artist Podcast
Welcome back to the Empowered Artist Podcast. Today, I'm diving deep into a topic I'm incredibly passionate about: art pricing.
I believe that every artist should know their worth and charge for it. So, if you've ever struggled with pricing your art or have second-guessed yourself, this one's for you.
I'm on a mission to empower all artists to increase their art prices confidently.
Myths About Art Pricing & How To Sell Art Online
Let's start by debunking some myths and pitfalls that often lead artists to undercharge for their work. These misconceptions can hinder your ability to price your art appropriately…
Myth 1: Most Artists Overcharge
Contrary to popular belief, most artists don't overcharge for their work. While some might experience sticker shock when they see the price of original art, it's crucial to educate potential buyers about the true value of your creations.
Myth 2: There's a Universal Way to Price Art
There's no one-size-fits-all formula for pricing art. Every artist, even within the same medium, has unique factors that influence their pricing decisions.
Art Pricing Facts: Galleries and Retail Spaces
Understanding how art galleries and retail spaces factor into pricing is essential:
Art galleries often take a significant cut, ranging from 40% to 60% of the sale.
Retail spaces typically take about 30% of the sale.
Myth 3: You're Not a Professional Until You Sell Outside Your Network
This is a misconception. It's entirely valid to start your art business by selling to friends, family, and acquaintances. Building your business within your network is a crucial step toward growth.
Myth 4: Art Buyers Don't Understand Art Value
Many art buyers may not have experience buying directly from artists, but that doesn't diminish the worth of your art. As artists, it's our responsibility to educate buyers on the value of original artwork.
Myth 5: Art Buyers Always Expect to Negotiate
Not true. While some buyers might expect to negotiate, the right customers will value your work and pay the asking price. Confidence in stating your price can make all the difference.
To Avoid Undercharging: Beware of These Pitfalls
Now, let's explore some common pitfalls that often lead artists to undercharge for their art:
Pitfall 1: Having a Hobbyist Attitude
If you view your art as a mere hobby or secondary income source, you might undervalue your work. Your art is worth more than just a pastime.
Pitfall 2: Feeling Unworthy
Imposter syndrome can creep in, especially in the early stages of your art career. It's easy to price your art too low out of fear that it won't sell. Remember, your uniqueness deserves fair compensation.
Pitfall 3: Competing Solely on Price
Competing solely on price is a dangerous game. It's not just about the cost; it's about the emotional connection between the buyer and your art. Price should not be the sole determining factor.
Why You Should Increase Your Art Prices
When you increase your art prices, you're making a statement about your worth. It sets the stage for how you value your work and how others perceive it. Your art is a privilege to own, a piece of your soul that deserves to be recognized. Don't compare it to mass-produced prints; it's a diamond amidst costume jewelry.
Get the Art Pricing Formula
If you're struggling with pricing your art, I have something special for you: the Artpreneur Art Pricing Formula. It's a comprehensive system that ensures fair pricing and profitability. It's exclusively available to Artpreneur Academy students, and it's been instrumental in helping artists like Kristen Horde increase their art prices and income.
Join the Artpreneur Academy: Selling Art Online For Beginners Just Got Easier!
I invite you to join the Artpreneur Academy, designed for artists who want to turn their passion into a full-time living. It's a step-by-step plan to grow predictable art income. Don't miss the chance to attend my free masterclass, "Secrets of a Six-Figure Artpreneur," where you'll gain valuable insights into art sales, social media, and branding strategies.
I can't wait to see you in the masterclass, and together, we'll empower your art business journey. Keep creating and believing in your unique artistic voice!
Secrets Of A 6-Figure Artpreneur!
Learn more about working with me to get the support you need in your art business:
If you would like to work with me personally, we can do that together inside my signature program Artpreneur Academy.
The Academy is a fully comprehensive, customizable blueprint to becoming a self-reliant, empowered, art business owner.
It’s worked for over 750+ artists!
And it can work for you too.
You can visit this page: Artpreneur Academy more or click the button below to learn all about it.
Your Art, Your Worth
Remember, as an artist, your art holds tremendous value. You deserve to be compensated fairly for your creativity and dedication. Pricing your art is an essential step in owning your worth. So, go ahead, increase those art prices, and watch your art business thrive.
Love and Positive Vibes,
Jenna
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