If you’ve already built up a little audience of people who like your art but you aren’t seeing sales, it’s usually at least partially because of the market you’re reaching.
If the right market is seeing your work, they should be buying it pretty regularly.
So what do you do if you’ve got a good number of people seeing your art and showing that they like it (by signing up for your email list, following you on social media, or just telling you they like it) but little to no sales? You start rethinking your target market, of course.
But first, you establish a multi-tiered pricing structure.
Changing up your target market or fixing the things your current target market doesn’t like about your business is a really involved process. So while you’re working on it, it’s good to go ahead and implement the simpler fix of hitting several different price points.
On the lower end, this helps you bring in all the people interested in your work, regardless of their budget for art.
On the higher end, it subconsciously tells all your customers that you’re a good artist and simultaneously caters to highbrow art buyers who only want to buy expensive art.
Having a wide range of price points is predicated on being able to produce different sizes and quality of work.
I recommend having prints available both in the full size of the original work and as “small” versions around 8×10 in size. Some artists do well offering both luxury prints printed on fine, textured papers with professional archival inks as well as prints on cheaper, often coated paper.
In addition to prints, you should start working at multiple size levels to make this multi-tiered pricing structure work. You can use your materials to help adjust the cost, the time you spent creating the piece, or the size of the piece. Having miniature pieces in addition to the normal sizes you work inis usually the easiest way to add another level of pricing to your repertoire.
It depends a lot on your branding, but I’ll give you a general gauge for where your prices might hit. For most painters I recommend their lowest priced piece around $20 and their highest can soar as high as they want it to, but at least as high as $250. More established painters shouldn’t charge lower than $75 for anything. So do expect that your prices will increase as your renown does, including the lower prices you’re using to catch other buyers.
Why does this pricing structure work again?
Because it draws attention to your work from those people who wouldn’t normally buy from you. You’re putting a “no brainer” piece in front of them – not only do they love it, but the price is right too! Your marketing efforts aren’t wasted even when you bring in people outside your target market because you can still attract those outliers to purchase your work.