Pricing your art and maintaining consistent relationships with galleries can be challenging. It’s crucial to find a balance that respects your work’s value while accommodating gallery preferences.
One common situation is when a gallery requests a price reduction to try to increase sales. While it’s tempting to comply to maintain the relationship, consider the long-term implications. Lowering your prices too much can undervalue your work and set a precedent that’s hard to break. Minor adjustments to pricing rarely make a significant difference in sales. More often, the issue is that the gallery isn’t attracting the right buyers for your work.
It’s better to seek new gallery relationships that appreciate and can sustain your desired price point. While it might feel safer to stick with a gallery that offers representation, even at a reduced rate, diversifying your gallery portfolio is often a more strategic move. Look for venues that understand and value your work’s worth.
In cases where a gallery wants to experiment with pricing, consider allowing them to do so while simultaneously exploring other galleries. This dual approach can protect your overall pricing strategy and ensure you aren’t overly reliant on one gallery’s sales.
Remember, it’s essential to maintain a network of galleries that support your pricing and value your work appropriately. Consistency in pricing across all galleries is key to establishing and maintaining your reputation as an artist.
I’d love to hear about your experiences with pricing and gallery relationships. Have you faced similar challenges? How did you handle them? Please share your stories and questions in the comments below.