I’ve been corresponding with an artist on the other coast, and s/he asked an interesting question:
“What's everybody doing about pricing these days?"
“What's everybody doing about pricing these days?"
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This artist continued, "I can't figure out if I need to adjust my prices before sending the work [to the dealer] or wait until after the work gets there to have that talk. I'm feeling very insecure about that at the moment."
Welcome to the club. A dealer I work with asked me recently, “What are your other dealers doing about pricing?” This dealer had already discussed the topic with her/his colleagues and wanted to know how galleries in other parts of the country were handling the issue.
Welcome to the club. A dealer I work with asked me recently, “What are your other dealers doing about pricing?” This dealer had already discussed the topic with her/his colleagues and wanted to know how galleries in other parts of the country were handling the issue.
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Price is being discussed between artists, between dealers, and of course between artists and their dealers. Given the downturn, I think everyone’s willing to accommodate this way or that, up to a point.
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In Miami I marshalled my chutzpah and asked a dealer I don't know well, "Have you lowered your prices?" S/he said, "We'll negotiate a discount, but we're not posting lower prices. Because when the economy rebounds, we'd have to start all over at the lower price." But another, violating the prices-can-go-up-but-they-can't-go-down rule, said, "I'm at the point where I'm going to call [collectors] and say, 'Make me an offer.' I need to pay my rent."
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Usually I bump up my prices at the start of each year, and I accept that a 10 percent “courtesy” will be given to collectors who request it if they’re purchasing my small paintings in multiple, or if they’re acquiring a larger work. I didn’t raise prices for 2009. And I’ve given my dealers the leeway they need with regard to discounts to complete a sale. We’re not giving it away, mind you, but we want my collectors to continue to acquire work. It's good business all around. Galleries need to stay in business. Me, too.
Usually I bump up my prices at the start of each year, and I accept that a 10 percent “courtesy” will be given to collectors who request it if they’re purchasing my small paintings in multiple, or if they’re acquiring a larger work. I didn’t raise prices for 2009. And I’ve given my dealers the leeway they need with regard to discounts to complete a sale. We’re not giving it away, mind you, but we want my collectors to continue to acquire work. It's good business all around. Galleries need to stay in business. Me, too.
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So let me ask the artists, dealers and collectors who are reading this post: What are you doing about pricing these days?
So let me ask the artists, dealers and collectors who are reading this post: What are you doing about pricing these days?
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(Go ahead, post anonymously. You notice that I've been as vague as possible in this post as well.)
