Hi there,
I have my first art festival event coming up this weekend and have pretty much got a handle on everything finally. But, I have a question regarding my pricing. I have some work in a local gallery and priced to include their percentage. Should I price my comparable work at the festival the same as the gallery price or adjust it down, removing their mark up? I was just wondering what a patron would think if they saw a piece in the gallery priced a certain figure and then saw something similar for a lower price at the festival?
I think I'm answering my own question as I type this. But would like to hear some opinions, please.
Thank you,
Todd
Replies
Hey Todd,
We have had work in galleries as well in the past. We actually sell our art work at a lower price because they are buying directly from the artist. Galleries always add their markup and we have had several customers contact us asking if we could offer a ;esser price than the gallery. It is also a great selling point when you can tell your customers that the galleries sell your work much higher than you do. Therefore they want to go ahead and purchase the work straight from the artist. Hope this helps. The reason why we keep our prices lower is because some galleries have sold our art with a 75% mark up.
Even though your art show patrons are buying from you direct, you are incurring the same kinds of expenses: ie advertising, booth fee, transportation, etc.
You should generally try to get the gallery to charge your suggested retail price. If they then can mark it up and sell it for more, that's great for them, but they are essentially screwing you. A 40/60 split should remain a 40/60 split, unless you are selling it to the gallery at wholesale and getting paid outright.
Price your work so that you are happy with the percentage you get from the gallery. If you need $200 for a piece, then price it at $400. Through the gallery, you will get the $200 and be happy. Through an art show, you will get the full $400 and be very happy (yet, you have expenses) Always know what your bottom line is.
At an art show, if you price that piece at $400, you will have room to negotiate on free shipping, cash discount etc. But if you price it at $200, then you have no room to work when someone tries to deal with you.
Plus, the last thing you want to do is upset any collectors who may see your work online, at shows or in galleries.
You shouldn't undercut the gallery - if the work is similar, the pricing should be similar. A patron would think why would I buy from the gallery. The gallery wouldn't be happy.
One option is to not offer similar pieces in the gallery as you do elsewhere. Somehow distinguish the work (framed differently, bigger pieces, dyptics, etc) which would justify a different pricing structure.
The gallery is getting their percentage because of work they are doing for you - you can't expect to get the same profit from a gallery sold piece as you do from a piece you bring to the festival. You should get more profit for the festival piece because you have to do all the work selling it and have to cover your booth fee. On the flip side, the patron doesn't care about all that - a similar piece should cost them the same regardless of where they bought it.
Thanks, Michael
That was along the lines I was thinking.
I try to have a mix of subject matter and sizes in the gallery and was doing the same for the show. But you have raised a thought about trying something different, though.
Todd