Courtesy of Empty Easel.com
As a young art entrepreneur, I can remember being on a sales call where I was asked to estimate my final price without having designed the project yet.
I tried to explain to the interior designer that such a request was nearly impossible, since I hadn’t even sat down and sketched out possible designs. . . the best I could do was ballpark a range, and even at that, I would need to adjust for variables.
This answer was unsatisfactory for my client, and I had what I now refer to as a “retail awakening.” You see, the client was unwilling to pay for my design time if they couldn’t afford the final project.
In the world of traditional interior design, quoting a price based on square footage is a perfectly normal thing to do. In my world of murals, on the other hand, creating a fee out of the air, without even a basic design in hand, would be sheer folly.
Most artists, whether selling commissioned pieces or finished art, will invariably find themselves in similar sticky situations. To keep the client happy, get the sale, and maintain professional relationships, it helps to have a healthy amount of social finesse and verbal skill.
The following paragraphs will give you some “readymade answers” for a few tough situations that most artists—at some time or another—will likely find themselves in.
First, understand what the buyer really wants
Ever since my original “retail awakening” I have come to learn that the buyer, most of all, wants reassurance.
Like in any sales scenario, the buyer wants to know the product is worth the price. Knowing yourself and your own worth becomes a critical part of speaking with confidence and transmitting your professionalism.
When I was younger, I was afraid of two things:
First, that I would quote a price that would end up being too low for the work I would want to do, and second, that my price would be too high for an unknown idea in my customers mind.
For many artists, of course, previous sales will set the price for your work and the artwork already exists (hanging up in the gallery, most likely).
But if you do custom or commissioned work, every new idea has size variables, design variables, production variables, research time, and installation variables that will make quoting a “ballpark” price a disaster.
What’s the solution? Well, today, when I am asked, “What will this artwork cost me?” I have a short 1-paragraph response that I use over and over again. I say:
“Your final price will be determined by my time, the size, the complexity of design, the production of the actual work and whatever installation might be required. Since this work is custom, you decide all those requirements which means you’ll have a great deal of control over your costs.”
Then I begin the design idea process and show them what’s possible.
I have found that “price fears” have less to do with the actual amount, and more to do with what the client is getting for the money spent. In other words, if the client is excited about what you are suggesting, and can see the visual impact of what you can do, then price is not even an issue—price only becomes an issue when the client is worried they won’t get a good product.
By using the example paragraph above, I show confidence and knowledge of my process, which helps allay any fears my customer might have, before an idea is even in the wind.
What to do when the buyer starts negotiating
If you are ever in a situation where a “patron” wants to negotiate a price, you’ll probably find yourself uncomfortably wanting the sale, but not wanting to be taken advantage of or disrespected.
For example, if your price for an original is $1000, and the patron “lowballs” you, I recommend the following conversation that, at its heart, has a win-win attitude.
“Will you take $500 for it?” a potential buyer might ask. (Be warned, my next answer here will shock you. . . )
“I would love to take $500 for it.” (Disarm them by not being offended or defensive.) “When my art goes to a good home, I feel great. Unfortunately, all my other collectors would feel cheated because I would be immediately devaluing their artwork. I am sure you wouldn’t want me to do that. . .”
Then—and this is very important—ignore the question of price and immediately begin a conversation to discover why they liked your work.
Ask them what they see in it, and refrain from telling them what you see in it. When the customer has connected to a piece of art, it really is all about them at that moment. If you validate what they see, you may learn more about your own work than you thought possible—and they’re more likely to buy your art.
Here is another thing that might shock you. Had you accepted the lowball offer of $500, you would have immediately devalued the piece in the customers mind, and nine times out of ten they’d say, “Okay, well I’ll be back. . . I have to think about it.”
The reason for this is simple. If you don’t believe your art is really worth $1000, then maybe it isn’t worth $500 either. . . read more.