£2,000 for that cafe painting? £20 sketch for a friend? This workshop will provide insight on pricing art with variables such as giving away commission, considering costs, selling in different locations and more. The aim is to help you arrive at the happy valley that’s both reasonable (= make sales) and profitable (= make money). We’ll also walk through handling complications like editions and commissions to help you price like a pro.
Art Pricing FAQs to be answered - a selection:
· What is meant by ‘market price’, why is this important and how is it established?
· If an artist and dealer are working together, who determines the price?
· What are the impacts of setting prices too low or too high?
· How do you know if prices are right - or not?
· How are prices increased over months and years?
· What is the ‘value’ of a work of art? Is it the wall price or selling price?
· How are prices established in different markets (in several countries for example)?
· What are best practices for setting commission arrangements between artist and dealer?
· How can the cost of frames be fairly incorporated into the commission structure?
· What are acceptable discounts to give when selling art and how can you still get enough profit?
· What pricing strategies should be considered from day one, when making work in editions?
You'll leave this interactive workshop with an improved understanding of how to price art… profitably.
About the Trainer:
SUSAN J MUMFORD is a game-changer in the 21st Century art world. She’s an entrepreneur, mentor, speaker, moderator and author. While running her gallery in Soho, London, she founded the Association of Women Art Dealers (AWAD), an international non-profit membership network that facilitates business and collaborations with members operating to high professional standards. This was followed by the creation of Be Smart About Art, an online-accessible professional development platform based out of London that helps creative professionals thrive in a changing world. In late 2015, her first book was published: Art is your life. Make it your living.
Based in Lewes, East Sussex, Susan works locally, in London, around the UK, the USA, Continental Europe and online, running workshops, lectures and courses, delivering 1-2-1 sessions, facilitating panel discussions, judging prizes and more.
Follow her on social media @susanjmumford