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ART BIZ LIFT OFF · 2016-04-29 · 5: Pricing ART BIZ LIFT OFF Module 5: Pricing I receive more...

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5: Pricing ART BIZ LIFT OFF Module 5: Pricing I receive more questions about pricing artwork than anything else, which is understandable. It’s difficult to put a value on something you worked so hard on, something so personal. I have noticed that artists just starting out tend to price their work either too low or too high. They use low prices because they want to sell work and create a market or they attach higher prices because they are comparing their work to that of more established artists. The dangers in pricing your artwork too low are: 1) You end up not paying yourself enough for the work you have done, the materials you have used, or your overhead costs. 2) You find it difficult to raise prices dramatically once you discover you’re losing money because the audience you created will no longer be able to afford your work. 3) If and when you seek others to help you sell your work you may receive only half of the sales price. Can you live with selling your work for half of its current sales price? On the other hand, the danger in pricing your artwork too high is that you may be perceived as too expensive and won’t sell anything. The truth is, as you hear over and over again, art is worth what someone is willing to pay for it. As you have no doubt discovered, there is no magic formula for pricing your artwork. This is a long lesson, but I won’t be able to give you a definitive way to price your art. And, still, because there must be a reason for the dollar amount you put on the work, there is a process for pricing. 1 ©Alyson B. Stanfield, ArtBizCoach.com Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.
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Page 1: ART BIZ LIFT OFF · 2016-04-29 · 5: Pricing ART BIZ LIFT OFF Module 5: Pricing I receive more questions about pricing artwork than anything else, which is understandable. It’s

5: Pricing

ART BIZ LIFT OFF Module 5: Pricing

I receive more questions about pricing artwork than anything else, which is understandable. It’s difficult to put a value on something you worked so hard on, something so personal.

I have noticed that artists just starting out tend to price their work either too low or too high. They use low prices because they want to sell work and create a market or they attach higher prices because they are comparing their work to that of more established artists.   The dangers in pricing your artwork too low are:

1) You end up not paying yourself enough for the work you have done, the materials you have used, or your overhead costs.

2) You find it difficult to raise prices dramatically once you discover you’re losing money because the audience you created will no longer be able to afford your work. 

3) If and when you seek others to help you sell your work you may receive only half of the sales price. Can you live with selling your work for half of its current sales price?   On the other hand, the danger in pricing your artwork too high is that you may be perceived as too expensive and won’t sell anything.

The truth is, as you hear over and over again, art is worth what someone is willing to pay for it.

As you have no doubt discovered, there is no magic formula for pricing your artwork. This is a long lesson, but I won’t be able to give you a definitive way to price your art. And, still, because there must be a reason for the dollar amount you put on the work, there is a process for pricing.

�1©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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Let’s start by looking at three methods for pricing your art.

3 Pricing Methods

1. ACTUAL COSTS PRICING

I often recommend that artists, at least once in their careers, work through this crazy pricing formula called “actual costs pricing.” (Download the bonus handout from our site and look it over before continuing.)

I referred to it originally as a never-fail pricing formula, but I think that’s wrong because it fails on a number of levels. First, it’s just crazy to do; second, it doesn’t account for the varied production cycles of many artists; and third, it doesn’t consider the market.

You may have really high overhead costs but only produce a couple of works a year. You cannot assign all of your overhead costs to two works of art. They would be priced out of the market.

A quick look at this handout shows the formula in Step 3. It’s the cost of overhead per work plus labor, profit margin, commission and framing equals sales price. That’s simple, right?

Keeping track of overhead costs is Step 1. The materials are in that. Then you’re figuring out the overhead cost per work, so the number of works that you make is Step 2.

What I want you to get from this is, first of all, that I don’t expect anyone to ever do this. What I do expect is that you know Step 1, which is what your overhead costs are. If you’re trying to make a living, you need to know the costs of everything that contribute to your business.

Figuring out your expenses for a year makes it easy to understand what your monthly overhead costs are. You just divide it by 12. Then you can take that number and consider it during the pricing process. Just keep it in mind.

There are saner ways to price your art.

2. MARKET PRICING

This is the most important method because you learn where you fit in the art sales market.

To begin your market pricing strategy, conduct research to find comparables to your work. You want to look for artists who do similar work, use similar material, and are at a similar spot in their careers. Be sensitive to how your work is different from someone else’s you come across and why you should price yours differently.

�2©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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You can find a lot of prices online, but galleries don’t generally put their prices online. You will have to visit galleries to research those prices.

Your focus: “Where in this market do my work and I fit in?”   During your research, notice those red dots and SOLD labels. Prices don’t mean much unless the work is actually selling.

Pay attention to Facebook because artists often brag about selling their work - especially on the Brag Saturday posts every other week at Facebook.com/ArtBizCoach.

While market research is the best place to begin, it still isn’t easy. You will continue to question your prices. This is just part of being an artist. You need to be okay with this uncertainty. I hereby give you permission to be okay with not being okay with your prices.

It’s easier to start low and raise your prices than it is to lower your prices later. You don’t want to find out that you’re overpriced in the market.

Next year you may kick yourself that you sold this work so cheaply, but you sold it. You got it out there and tested it. You need to move on.

At the same time, don’t undervalue your work. Selling your work too cheaply means that you’re probably not getting paid what it’s worth. There may be times when you want to offer deals or have a sale, but keep in mind that you don’t want the reputation of, “He’s the cheaper artist.” You can’t do that in the art community.

It’s not good to have the reputation as the cheaper or “more affordable” artist. It may sound good that your prices are lower than his, but sometimes that’s what art buyers avoid. They think there’s a reason that it’s cheaper. And it’s not a positive reason.

Don’t undercut the people in your market as a business strategy. You have to think about other artists who are trying to make a living with their art. You are a part of their community and low prices don’t serve anyone in the community. You’re just going to make artists angry with you because when buyers see that your work is cheap, they start questioning the higher (more reasonable) prices of other artists.

3. SQUARE-INCH PRICING

Square-inch pricing is a popular way for two-dimensional artists to figure out their prices and is based on the other two methods mentioned. And it can save you a lot of headaches.

�3©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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You have to figure out the surface area. For example, a 16-by-20-inch work is 320 square inches. If you charge $2 a square inch, you know that piece is going to be $640 (320 x $2).   Even though that dollar amount, ultimately, is easy to come by, it has to be based on something. You can’t just pull the square-inch number out of the blue. It comes from your market research, your pricing formula, and your overhead.

You can’t just say, “I think $2 a square inch is fair,” and not know where it came from. It must be grounded in reality.

I caution you not to tell people that your work is $2 a square inch. I would use the number as a calculation behind the scenes because per-square-inch sounds like you’re selling flooring or tile. It doesn’t sound like fine art pricing. Keep it to yourself.

Don’t blast it on your website that your work is sold by the square inch, unless that’s your shtick, like, “I sell art by the square inch.” That could be someone’s shtick. You can steal it from me right now. I’m okay with that.

Square-inch pricing is a good starting point, and it’s only a guideline. You might use it on a sliding scale. For example if you make a variety of sizes, your small work might be $2/inch while large work could go down to $1.50 or even $1 per square inch.

Pricing Factors Let’s look at eight factors you might consider when pricing your art.

PRODUCTION CYCLES

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Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

OVERHEAD COSTS ASSIGNMENT

Figure out your overhead costs per month or per year.

There is a place to leave your findings on this week’s self-evaluation.

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A production cycle is the length of time it takes you to complete your work.

If you work faster and are very prolific, your prices might be lower than an artist whose work takes months to complete.

If your work is very intricate or, for whatever reason, takes weeks or months to complete, then you are at a competitive disadvantage. I urge you to try and find some way to reduce the production time that you spend on your work.

Artists whose work takes months to finish usually expect to be paid for all that time, but that’s not how it works. The market will not bear that. The market will not pay you an hourly wage for six months, especially if you’re just starting out. Find a way to shorten the production time for your art.

SIZE

Another factor to consider in pricing is that larger works are usually more expensive than smaller works.

This may be self-evident but you have to think about this when you think of the cost of the artwork you’re creating. Those larger works, obviously, are using more materials, so your cost is greater to recoup.

MEDIUM

A third pricing factor is the medium. Getting straight to the point: Works made from higher-priced materials have a bigger price tag on them. Duh, right?

Let’s look at two-dimensional works. Works on canvas or panel almost always command more than works on paper, but then there’s that whole framing thing which throws everything off. You have to frame works on paper, which adds a lot to the price.

How do you account for that in your prices so that works on canvas are still priced higher, even though the framing is such a big expense? This is a struggle for a lot of my clients, and I have actually come to the point, at times, when I’ve said, “Focus on the canvas.” Works on paper are just too hard to price and to recoup your expenses. The materials price is so much more.

If you have works on canvas and works on paper and are trying to price both of them per square inch, you probably need a lower price per square inch on the works on paper just because you still want the canvases to be a higher price. The market expects this.

�5©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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Now on to three-dimensional works. Bronze sculptures have higher prices than carved wood because the production and bronze are more expensive than the wood.

Daniel Grant, who has written a number of art business books, has said that the bronze sculptures are generally priced three times the foundry price, so I’m just going to go with what he says because I trust him. I don’t know how bronze artists can have anything cast without a financial backer or pre-sales because it’s so expensive.

When pricing your art, look at the materials that you’re using - the cost and the perception of the materials.   PRODUCTION WORK (INCLUDING PRINTS)

Many artists have production work or a production line that is different from their one-of-a-kind pieces. Potters have molds they use repeatedly to make the same form. Jewelers have elements that they hire studio assistants to duplicate over and over. Painters have digital print reproductions, now known as giclées.

Note: These giclées are different than art that was created in the form of multiples. For example, bronze sculpture and fine-art prints are conceived as multiples. They are made in limited editions and then the casts or plates are destroyed.

Production work is always less expensive than one-of-a-kind pieces.

Let’s talk more about giclées since these are such a popular option for artists. What I’m going to share with you now is from Barney Davey’s e-book, How to Price Digital Fine Art Prints, which you can find at BarneyDavey.com. I found Barney’s e-book to contain sound advice from a number of people in the digital print business. I want to share with you some interesting insights that I discovered.

A reminder that this discussion is not about fine art prints like etchings, engravings, woodcuts, or monotypes.

One person in Barney’s book suggested that digital fine art prints should be priced at a percentage of the original piece. Let’s say your original is on the market for $1,000. Then maybe your prints are 10% or 20% of the original price, so you would sell your prints, say, in the $100-200 range.

Another way to price your digital prints might be the production costs. If the print company charges you $25 for this print you might multiply that by four or five and sell it for $100 or $125.

Of course, your print prices would be grounded in all of the other research you have done so that you’re not pulling a number out of the hat.

�6©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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Remember that when you sell digital prints and photographs, you need to have a market for them. There has to be a market for the original before you make prints of it. People have to like the work before you invest in reproducing it.

You have to be able to sell one work multiple times, so it has to be a very popular image. You don’t just make prints because you think you can make a lot of money at it. You have to be able to sell the original many times over.

The other thing to consider in pricing digital multiples is open versus limited editions. Most artists who make digital prints do open editions, which is fine. Some in the industry refer to them as “poster prints.”

If you decide to do an edition, the smaller editions are priced higher than larger editions. By smaller, I mean fewer in number: 10 or 20, not 500. And remember, they’re only priced higher if there’s a higher market value for them - if you have the people who are willing to pay the higher prices.

Let’s say you’re doing really well and you sell your digital prints for $1,000, and then you decide to do a new edition and limit it to five prints. You could, perhaps, price them at $2,000. It doesn’t usually work this way when you’re selling your prints for $125, so limited editions for lower-priced reproductions don’t make sense.

Also, remember that, in multiples, all works in an edition are priced the same and each size has its own edition. That’s how prints work. Then each substrate has its own edition. You might do printing on canvas and paper: printing on canvas in these three sizes and on paper in these four sizes. Each one of those is its own edition, with its own pricing structure.

CONSIGNED WORK

When you show art at a gallery, you consign the work to them for sale. It’s standard that galleries take 40% to 50% commission on the sales of your work.

If you haven’t added a 50% commission into your pricing, now is a good time to start. You must build this 50% commission into your pricing from the very start in order to avoid increasing prices dramatically in the future. If you sell the work, you have earned the commission for yourself. Likewise, if a gallery or other agent sells the piece, the 50% they earn won’t be as painful for you because you priced the work correctly.

�7©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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You should never sell your work for one price out of your studio then ADD a commission if it is sold elsewhere. Gallerists look unfavorably upon this practice and will drop you like a hot potato.

You have one price and one price only for any work of art.

You have one price and one price only for that work of art. If you sell that work of art for $1,000 from your studio, then you’d better be ready to agree to a $1,000 price tag on it at the gallery. I absolutely cannot stress this enough. You have one price for that piece of work.

Another thing I wanted to say about galleries is that a high-end or more prestigious gallery might be able to give you pricing guidance.

You should always have control over pricing because you should always have control over your venues. If gallery representation is a goal, you should have more than one gallery and their prices must be in sync with each other. The galleries know their market and what people will buy, so do have the pricing conversation with your galleries when the time comes. COMMISSIONED ART

A commissioned artwork is a work of art that you agree to execute according to the wishes of the buyer.

Commissions are common for those who paint people, house or pet portraits, as well as artists who do large-scale outdoor sculpture and monuments. But artists of all types will find themselves being offered a commission at one point or another.

Commissions can originate from an individual, a company, a gallery, an art consultant, or a municipality or other government agency.

You would think an artist might be offered a commission because the buyer liked other work by the artist. And one would assume that the buyer wanted something similar. However, sometimes buyers ask for a commission because you’re the only artist they know, and they might not want their piece to look anything like the current work you’re doing. They have an idea of what they want and it’s not anything like your current work.

Beware of these commissions! They’ll have you working outside of your pleasure and comfort zones and tearing you away from the art you want most to make.

�8©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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Commissions can work well when a very professional relationship is established between artist and buyer and each party understands that it’s a collaborative process. This means a contract spells out the details and the buyer approves of a sketch or maquette.

Commissioned artwork should command higher prices - as much as 50% more - than art you make for yourself. After all, you have to make sure it pleases someone else.

Note: The word “commission” can also refer to an agent’s fee (usually a percentage) for helping you sell your work. See Consignment above.   GEOGRAPHY Artists who sell in smaller or more economically depressed communities have often found it difficult to ask for prices similar to artists in larger cities.

I argue that if you’re trying to sell online, you don’t just have that small-town audience anymore. You have a larger market. It’s a world market at that point.

You don’t have different price points for different geographical locations. CAREER

The last pricing factor might be the most important: your career. This is simple. The longer you’ve been in business and the more art you’ve sold, the higher your prices can go. The more solo exhibitions and museum shows that you’ve had, the higher your prices can be. This is why the exhibitions are important and why gallery representation can help raise your prices.

Even with all that fancy stuff on your resume, your prices can never exceed market value, which is, again, what someone is willing to pay for it.

Artists that have gallery representation usually have higher-priced work because of the efforts the galleries make on their behalf and connections that galleries have.

Golden Rules for Pricing

You have 1 price and 1 price only for your art - regardless of where you show it.

(Related) Never undersell your galleries!

Start low and raise your prices as circumstances warrant.

�9©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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Raising and Lowering Prices WHEN & HOW TO RAISE YOUR PRICES

It’s time to raise your prices when your work is selling at a decent rate and some time has passed. What that time is depends on the rate at which your work is selling and other factors. You can’t start selling and immediately raise your prices next month. You need some time to pass. There needs to be a record of consistent sales.

It’s also time to raise your prices when you can’t keep work in inventory. If you sell it as fast as you make it, it’s probably time to raise your prices.

This sounds like a good problem to have, but it’s still a problem.

The third reason for raising your prices is if your materials price goes up. See “The Rising Cost of Silver” on the next page. This is from Wendy Edsall-Kerwin’s newsletter. In it, she’s explaining why she had to raise the prices of her jewelry following a steep increase in the cost of silver.

I love this because there’s a graphic image. You can see that in December 2002, the price of silver was $4.50 an ounce. Then it starts going up in 2003 and 2004. By December 2010, which was right before Wendy did this newsletter in January 2011, it was $30 an ounce. Anyone can understand this, seeing it like this.

It’s much easier than even putting it in writing and saying “4.50 an ounce to $30 an ounce” or “The price of silver has gone so high.” This actually shows graphically, from a trusted source, that the price of silver has gone up.

By the way, Wendy didn’t just say, “I am raising my prices. Too bad for you.” She offered a discount and window for her subscribers.

This is HOW to raise your prices. You tell your subscribers and collectors first because they are your VIPs - the people you care most about keeping happy. Write something like this:

Things have been going very well for me, which means I’m about to raise my prices. Because you’ve been such a valuable supporter, I want to offer my work to you at current pricing for the next 45 days.

This rewards your collectors and makes them feel special. They also understand it. They should feel very good about investing in your art early on in your career. They’ll be delighted to know that you’re successful enough to raise your prices.

�10©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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DISCOUNTING YOUR ART

In general, try not to discount your art. If you do this often, you’ll look wishy-washy, which doesn’t evoke confidence from potential buyers. However, there are circumstances in which you would wish to unload inventory or earlier work.

If you’re selling on your own and outside of the gallery system, you have the freedom to offer discounts. You could give a discount for a cash payment, rather than the buyer putting it on a credit card. You have the ability to get as creative as you want with giving sales and discounts to your clients. As long as you don’t have gallery representation. Any discounts would need to be discussed with your gallerist.

I always think it’s a good idea to take care of your collectors and offer them any sales and discounts first, just as you would if you raised your prices.

The reason you do this with your collectors is because they bought at the higher price. Still, they understand sales. Everyone understands sales and discounts. No one’s going to be upset with you if you tell them first.

The secrets for getting the price you want for your art are to 1) be enormously confident in the value and 2) project to the world that it has the value you have decided on.

Dealing with Donation Requests

Sometimes a community supports a lot of charitable art auctions. This isn’t a good thing. First, it means that many people in the community wait for the auctions to buy art at a reduced rate. It also

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impedes on the health of the local gallery system, and a healthy gallery system is a pretty good sign of a healthy art community. Art auctions, at which art is often sold for a fraction of its retail price, disrupt the artists’ abilities to control their pricing structure.

Tax Ramifications for Donating Your Art

Under current U.S. tax laws, artists are unable to deduct the full retail value of artwork donated to charities. You can only deduct the cost of your materials, which means that when you donate, you are doing so out of the goodness of your heart.

Not everyone who asks you to donate your art will be aware of the tax ramifications. It’s your job to educate them. (More on this in the sample response letters below.)

There is no end to requests for donations of your artwork, so you need to decide how to handle them. I suggest setting limits – now!

This advice isn’t for artists who are joyfully supporting multiple causes with gifts of their art. It’s for artists who are searching for a response to relentless donation requests – often for charitable auctions. Here are 6 boundaries to create around requests for donations. You can choose one of them or use them in combination.

ORGANIZATION LIMITS

You cannot possibly donate to every organization in need, so select one or two charities that speak to your heart.

Donate as deeply as you can to those organizations rather than spreading out your gifts.

Incidentally, I believe that every organization that purports to support art and artists should 1) have minimum bids and 2) give artists 50% of the sales. You can choose to donate 100%, but arts organizations should be an example and support their artists.

MONETARY LIMITS

How much can you afford to give? Many artists support worthy causes at the risk of their own financial well-being.

Decide on an annual donation limit and say No to everything after you’ve reached that limit.

�12©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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ART LIMITS

Many artists donate gift certificates and art reproductions in lieu of original artwork. This usually means a lower auction value, but results in peace of mind for the artist.

Other artists donate only to art-specific auctions because the art is the focus and the organizers are well aware of the art’s value.

INVITATION LIMITS

If you are donating something of significant value, you should expect to receive a complimentary invitation to the event.

If the organizers are savvy about marketing, they will see that you meet potential bidders to discuss your work. This can only enhance the perception of the work (as long as you don’t have one too many cocktails at the event).

PUBLICITY & DISPLAY LIMITS

Consider auctions and events that give you responsible publicity.

Will a catalog be printed with your art in color and include your contact info? This is rare, but it sure would be nice.

Will you be able to display business cards, flyers, or brochures next to the donated art?

Will your work be shown in an appropriate setting or lumped together with a bunch of crap on an ugly tablecloth? Hey, I’ve seen it!

If the auction is live, with the auctioneer treat the work with respect? I’ve heard about bad experiences with auctioneers.

BID LIMITS

Auctions justifiably get a bad rap because artwork is often purchased for a fraction of its value. Ensure that you’re allowed to set a minimum bid.

However you decide to limit your art donations, do it now.

�13©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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It’s easier to articulate your boundaries when you’ve thought about them. It’s harder to do so when you’re put on the spot. Have your response ready to go for when these inevitable requests come your way.

There are a couple of sample letters on the Art Biz Blog for responding to donation requests. You can model your response based on these shared by generous artists: http://www.artbizblog.com/fiona-purdy http://artbizblog.com/donationresponse

Setting boundaries around donations is one way to demonstrate that your art has value. Here are 16 additional ways.

16 (MORE) WAYS TO DEMONSTRATE YOUR ART HAS VALUE

Sometimes we get sloppy and forget that everything we do and say around our work affects how others perceive it.

You teach people how to treat you and your art. This means that you must treat it with the respect you wish it to garner. Make sure you’re sending the right signals.

Here are 16 things to consider.

Making and Preparing Art

1. Use the highest quality materials you can afford. It would be humiliating for your art to start falling apart after it’s purchased.

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DONATING ART ASSIGNMENTS

1. What limits will you set for donations of your art?

2. Write a sample response to an imaginary request of your artwork for a non-art-related charity.

If you can’t even imagine being asked for donations of your art, try! It’s going to happen.

Respond to these and other assignments on the self-evaluation worksheet included with today’s lesson.

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2. Select frames that complement your work and are well made. The frame shouldn’t compete with the work. Simple is best.

3. See that your mats are cut meticulously. Nothing ruins a good image like a poorly cut mat. Ditto for 3-D art that is sloppily put together or finished.

4. Ensure that all 2-D art rests flat against the wall. It shouldn’t bow, droop, or buckle.

5. Sign your art. It doesn’t matter how you sign it or where, but sign it. Signing art says, “This is complete, and I made it.”

Handling Art

6. Don’t schlep your art around in supermarket bags. Use portfolios and beautiful boxes.

7. Use the right amount of packing material to ensure that the work will arrive safely. See http://greyhoundsculptor.com/2012/09/23/i-love-packing-peanuts/

8. Insure your work and studio appropriately. Home insurance rarely covers business mishaps.

Exhibiting Art

9. Let people see the art! Your work should be well lit wherever it is on exhibit. Look out for hot spots, glare, and shadows.

10. Create uniform wall labels that are carefully cut and stay snugly on the wall. Wonky labels that appear to be an afterthought can ruin an otherwise solid installation.

11. Use museum-quality hanging and installation devices.

Documenting Art

12. Document all of your art with high-quality photographs. They should be as good or better than the art itself because they represent the work and if you do your marketing right, you will sell art from JPEGs.

13. Keep your inventory database up to date, noting details such as size, specific materials, and the exhibition record of each piece.

14. Maintain a price list. It’s unprofessional to make up prices on the fly. However, if you don’t know the price when someone asks outside of a normal exhibition space, simply say, “Let me look that up and I’ll get back to you.” You aren’t under any pressure to respond to an immediate request.

�15©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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Interpreting Art

15. Talk about your work with respect. Develop the language to speak intelligently and confidently about it.

16. Don’t ever apologize for your art or leave anyone to believe that you are less than an artist.

Of course there are many other ways to show that your art has value. Now that you are aware of this list, you will start to notice new opportunities for doing so.

Mindset: Are You Too Frugal? Speaking of valuing your art, how about valuing yourself? I am tired of watching artists and arts organizations live on leftover scraps.

In my more than two decades of working with fine art, I have witnessed repeatedly how frugal the arts are. Not to the patrons with the big bank accounts, but to the artists, without whom their passionate interest would not exist.

Frugal isn’t bad by itself. In fact, frugal can be good. But frugal becomes detrimental when it feeds the idea that we are not worthy of more.

Many of my clients develop this feeling of unworthiness.

For years I have been writing, as I did above, about how artists can show that their work has value. But I continued to allow artists at my workshops to be treated “on the cheap” by the organizers, and I admit that I was doing the same.

Then I started attending “nice” conferences for marketing, mindset, and software. Conferences with tablecloths, fresh flowers, music, and bright spaces.

I realized that the people and companies that were producing these conferences would have never treated their guests as cheaply as artists are treated. So I modeled what they did for my events.

If artists are to embrace an abundant mindset, they need to be treated like they already have one – and that they deserve it. Furthermore, you must treat yourself as if you deserve it.

Let me share an example of how a frugal mindset can harm your business.

I know someone who makes beautiful, one-of-a-kind furniture. It’s pricey and worth it. But he has a difficult time marketing the work, and I think I know why.

�16©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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One night we were talking in a social situation when he began harping about how he couldn’t believe his daughter would spend $25 for a toilet-paper holder when there are much cheaper versions. He just couldn’t let it go.

This was an Aha! moment.

My friend will continue to have problems marketing his work since the very people he wants as collectors would pay much more than $25 for a toilet-paper holder.

People who look for quality in art tend to look for it in every aspect of their lives.

You can’t advocate cheap materials, products, and design out of one side of your mouth and ask for high-dollar sales from the other side. These are conflicting messages to the Universe.

IF YOU ARE ESPECIALLY FRUGAL

If you come from a less-than-abundant place, you, like my friend, must work on your money mindset.

Consider how your frugality might come across to potential buyers.

�17©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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How are you being too frugal? How are you showing potential buyers that you are unworthy of your prices? How are you treating yourself? How is your frugality detrimental to your business and personal growth?

Let’s start treating each other like we are as worthy of abundance as our patrons. You with me?

EMBRACE THE ABUNDANT MINDSET

Now let's look at some ways that you can start feeling more abundant, which will help you break out of the frugal mindset.

Artist Jill Christian says she feels so much more professionalgoing to meetings after investing in a new bag.

How do others treat you?

What is the room like at your artists’ meetings? Is it dark, gray, and lifeless? I've been to plenty of artist meetings in rooms that left me cold. Do something to change the drudgery!

Encourage more abundance from members. Ask them to bring nibbles on beautiful trays (preferably handmade by an artist) instead of paper plates.

We teach people how to treat us by our actions and responses. These are things we

have control over.

Assign alternating people to arrive early at each meeting to clean the room and serve as welcoming hosts.

You can be the catalyst for change in your artist community.

How do you treat yourself?

Are you skimping on details that could lead to an increase in sales?

�18©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.

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5: Pricing

Hire someone to do your framing rather than showing your work in poorly cut mats. Hire a photographer to take professional images of your art. Your online and long-distance promotion depends on excellent photography.

There are plenty of free things you can do to feel more abundant in your daily life.

Use cloth napkins at home instead of paper napkins or grab a glass instead of a plastic cup. And, every so often, bring out the “good china” and silver for a meal.

How do you treat others?

I can’t ask artists to develop a more abundant mindset if I’m not treating them like they deserve it. Likewise, you must value other people's skills, knowledge, and talents.

Be generous.

Of course you can give physical gifts, but there are equally precious gifts of time, knowledge, and gratitude.

• Offer to call someone to help her solve a dilemma.

• Tell other artists about your latest find at the art-supply store.

• Send notes of thanks to people who make a difference in your life.

The more you give of yourself, the more you will receive in return. Abundance!

This is why I asked you to write daily gratitudes at the beginning of class. You are still doing this, yes?

I want you to be aware of how you are surrounded by abundance in your daily life and environment. It’s too easy to think about what you don’t have, and gratitudes are one way to focus on all what you already have. The Universe won’t give you more until you appreciate what you already have. 

Until Next Week All of this week’s assignments can be completed on the self-evaluation worksheet, which you can download in the same spot you picked up this lesson.

�19©Alyson B. Stanfield, ArtBizCoach.com

Intended for private use of Art Biz Coach Students. May not be copied or shared without permission.


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