Here’s a tricky topic- how to price art to sell. You might think, I’m not selling as much as I would like, and I feel like I need to cut my prices.
The issue is not that you need to cut your prices. The issue is you need to market to people who understand the value of what they’re getting. There are three things that make a sale happen- right product, right person, right time.
Notice the price doesn’t actually enter into that.
So, who is the right person?
Who is your ideal client? Remember we only ever sell to ideal clients. I do. Clients are the ones who need you. They know they need you. They can pay you. It might be a stretch, but they can pay you and they share your value system. Not all of your values necessarily, but some.
They know they need you, right? What are they looking at? What are they Google searching? What are they talking to their friends about? So, you don’t want somebody who’s never bought art before- you want somebody who’s like, Oh, I need a new piece for this spot.
So, who is that person? Is it someone in real estate staging? Is it someone who’s just moved into a big house? Is it someone who just wants to give little pieces of art to their friends? So, figure out who’s the person. What’s happening that they need your thing, and then have the right thing.
I might even suggest you raise your prices. It’s a great differentiator. And you know how you are even with your own things. When you’re like, Oh yeah, you know, I paid 30 bucks for this thing. It’s whatever. As opposed to, oh no, I paid $3,000 for this thing. It’s super important to me. I love this thing, it has value to me.
That’s my suggestion- make this offer. You’re probably just not offering it to the right people. That’s all. So, take a minute to think about who that right person actually is.
We spend a lot of time on that in Sam’s Pro Club. So, if that’s something you’re thinking about or want to talk to me about, it’s never too late to join Sam’s Pro Club.
I would experiment with maybe tripling your prices. Most of you could afford to 10x your prices. Most of you could afford to put a zero on the end of whatever it is you’re charging right now. Charge a lot and then offer a money back guarantee. You know you’re going to over-deliver.