Ep 11, How to Holistically Price your Art: the three things you want to consider.

The Artist's Guide to Business

Show Notes:

In this heart-to-heart episode, we dive into a dilemma that many artists grapple with: how to price their artwork. We start with a compelling story that challenges our perceptions of value and time, likening the pricing of art to the simple act of buying a cup of coffee. This narrative sets the stage for a deeper exploration into the complexities of pricing art, moving beyond traditional methods that often undervalue an artist's work.

Key Highlights:

• The Pricing Paradox: We address the common pitfalls artists face when pricing their work, including the flawed logic of hourly rates and the emotional turmoil of attaching a price to one's passion.
• A Holistic Pricing Strategy: Shifting the focus from traditional pricing models, we discuss the importance of viewing pricing as a tool for business viability and personal comfort. We explore strategies for setting yearly income goals and breaking these down into achievable sales targets at various price points.
• Embracing High-Value Art Sales: The episode challenges the hesitation around high-ticket items, emphasizing the rewarding experience of selling art that is both highly valued by the buyer and profitable for the artist.
• The Psychological Impact of Pricing: We delve into how pricing affects brand perception and client experience, underscoring the strategic role of pricing in positioning and the potential pitfalls of underpricing.
• Personal Anecdotes and Industry Insights: Drawing from personal experiences and industry observations, the discussion highlights the consequences of underpricing and the empowering effect of a well-considered pricing strategy on an artist's career and self-worth.
• Actionable Advice: The episode concludes with practical advice for artists struggling with pricing, encouraging a shift towards a more strategic and confident approach to valuing their work.

This Episode Is For You If:

• You're an artist uncertain about how to price your work.
• You're looking for a sustainable way to balance your passion for art with financial viability.
• You want to understand the psychological and strategic aspects of pricing in the art market.

Takeaway: Pricing your artwork is not just about covering costs but about valuing your talent, time, and contribution to the art world. By adopting a holistic and strategic approach to pricing, you can ensure your art business is not only sustainable but thrives, allowing you to continue doing what you love most.

Join us as we unravel the art of pricing, empowering you to confidently tag your masterpieces with the price they truly deserve.