Profit Before Ego
It’s Monday morning. Grab a coffee. Let’s talk money.
From what I understand, most art nude prints are sold to collectors, often regular folks like me who collect the art that they love. Over a lifetime I will probably build up quite a collection of paintings and photography, and of course I live in hope of finding I have a modern equivalent of a Carla Bruni print that is worth a fortune (don’t mind me, I’m only jealous) but in the meantime, whilst I lie back and wait for my equivalent collector’s financial miracle to occur, I’ll just keep on plodding along with my low-budget collecting of photos that tickle my fancy.
Now the key phrase in the last paragraph was “low-budget.” Of course like most ordinary everyday wannabe art collectors, I’m broke (this is the credit crunch after all.) There’s not much in my wallet apart from the odd moth or three. Carla Bruni and Lucian Freud collectors aside, most ordinary folks who collect art only have a few $$$ spare a month, and will only buy a piece occasionally for a present, or when they find an exceptional print that they really, really must have. Even then, in my case, if the photograph costs over about $50, it’s out of my league, and most folks I know are in the same boat.
So how does that help you, the poor starving artist who relies upon print sales as a bit of extra cash to fund his art?
Now some of you out there will think that me paying you $50 for a print is entirely reasonable (and that would be those of you who are still selling prints, I suspect) but some of you will be horrified, because you know your art is worth much more than that. Based on past print price sales, perhaps you won’t even consider getting out of bed for less than $300-$1000+ a print?
If this is the case, then congrats! You have just priced yourself out of the majority of the modern art collector’s market. O.K. Let me explain. We are entering a recession. You can only sell your art at the price which the market will bear. You need to drop your prices if you want to survive. There’s no use holding out for the wealthy collectors (unless you have Carla piccies of course) because they won’t be able to buy from you very soon. Remember, people want to collect something which is both affordable and desirable. They want a bargain.
My recommendation to you, as your trusty nekkid financial adviser, is to adjust your intended marketing strategy, depending on your goals. If you want to regularly supplement your income by selling prints, then consider dropping the price. Shop around for lower printing/packaging/shipping methods (without overly compromising on quality of course), offer limited editions , a “print of the month” (does this idea work? I’ve no idea), and schmooze your regular clients with entertaining email updates and access to private “exclusive” web site images (Stephen Haynes does this wonderfully and he doesn’t do too badly in print sales I suspect.) Plus please do consider selling smaller prints. Small canvas b+w photographic prints really sell well over here in the UK, because they are perceived as “fashionable art” (I’ve no idea if this is the “in-thing” in the States as well.)
If you think I’m talking out of my ass again, then I guess you have to ask yourself what your priorities are? Do you want the occasional high-value sale to a wealthy collector, and your name to remain relatively unknown, or do you want to opt for selling cheaper prints to ordinary everyday mortals (like me) and thus increasing your (marketing) exposure? Surely you are more likely to be more well-known in the long-term, if you pile 'em high and sell 'em cheap now?
If you sell lots of smaller, inexpensive prints to regular devoted fans who collect your art because they love it, just think about how many of your photographs will be “out there” after say, five years? How much more successful will you be?
What use is being posh, obscure and exclusive if no-one can afford to buy your work?
Ooh, I've been waiting for over a week to show these images of devoted couple Syd and A.J. from last week's steamy shoot. (A lot of fun, and really great piccies too - thanks guys!)
From what I understand, most art nude prints are sold to collectors, often regular folks like me who collect the art that they love. Over a lifetime I will probably build up quite a collection of paintings and photography, and of course I live in hope of finding I have a modern equivalent of a Carla Bruni print that is worth a fortune (don’t mind me, I’m only jealous) but in the meantime, whilst I lie back and wait for my equivalent collector’s financial miracle to occur, I’ll just keep on plodding along with my low-budget collecting of photos that tickle my fancy.
Now the key phrase in the last paragraph was “low-budget.” Of course like most ordinary everyday wannabe art collectors, I’m broke (this is the credit crunch after all.) There’s not much in my wallet apart from the odd moth or three. Carla Bruni and Lucian Freud collectors aside, most ordinary folks who collect art only have a few $$$ spare a month, and will only buy a piece occasionally for a present, or when they find an exceptional print that they really, really must have. Even then, in my case, if the photograph costs over about $50, it’s out of my league, and most folks I know are in the same boat.
So how does that help you, the poor starving artist who relies upon print sales as a bit of extra cash to fund his art?
Now some of you out there will think that me paying you $50 for a print is entirely reasonable (and that would be those of you who are still selling prints, I suspect) but some of you will be horrified, because you know your art is worth much more than that. Based on past print price sales, perhaps you won’t even consider getting out of bed for less than $300-$1000+ a print?
If this is the case, then congrats! You have just priced yourself out of the majority of the modern art collector’s market. O.K. Let me explain. We are entering a recession. You can only sell your art at the price which the market will bear. You need to drop your prices if you want to survive. There’s no use holding out for the wealthy collectors (unless you have Carla piccies of course) because they won’t be able to buy from you very soon. Remember, people want to collect something which is both affordable and desirable. They want a bargain.
My recommendation to you, as your trusty nekkid financial adviser, is to adjust your intended marketing strategy, depending on your goals. If you want to regularly supplement your income by selling prints, then consider dropping the price. Shop around for lower printing/packaging/shipping methods (without overly compromising on quality of course), offer limited editions , a “print of the month” (does this idea work? I’ve no idea), and schmooze your regular clients with entertaining email updates and access to private “exclusive” web site images (Stephen Haynes does this wonderfully and he doesn’t do too badly in print sales I suspect.) Plus please do consider selling smaller prints. Small canvas b+w photographic prints really sell well over here in the UK, because they are perceived as “fashionable art” (I’ve no idea if this is the “in-thing” in the States as well.)
If you think I’m talking out of my ass again, then I guess you have to ask yourself what your priorities are? Do you want the occasional high-value sale to a wealthy collector, and your name to remain relatively unknown, or do you want to opt for selling cheaper prints to ordinary everyday mortals (like me) and thus increasing your (marketing) exposure? Surely you are more likely to be more well-known in the long-term, if you pile 'em high and sell 'em cheap now?
If you sell lots of smaller, inexpensive prints to regular devoted fans who collect your art because they love it, just think about how many of your photographs will be “out there” after say, five years? How much more successful will you be?
What use is being posh, obscure and exclusive if no-one can afford to buy your work?
Ooh, I've been waiting for over a week to show these images of devoted couple Syd and A.J. from last week's steamy shoot. (A lot of fun, and really great piccies too - thanks guys!)
posted by Lin at 11:33 AM
3 Comments:
I don't sell prints so not going to comment. Would like to buy but don't have the funds right now.
I love What The Duck and this was up a few days ago. Tried to get the cartoon to copy but with my limited computer skills couldn't get it to happen. So here is the link.
http://web.mac.com/aaronandpatty/What_the_Duck/Comic_Strips/Entries/2008/4/11_WTD_453.html
D.L. Wood
For what its worth..I do both. I offer smaller versions (4x6, 5x7, 6x8 and 8x10s) all signed but not part of my LE series. These are very popular and affordable. I also have the high end collectibles...11x14 being my LE sizing...and ill also print 16x20 and larger if the price is right. These sizes are premium priced..as they should be.
Somthing for everyone...this has worked really well for me over the years. I try to ensure that the budget minded collector has the financial ability to purchase my work, even if they are the smaller pieces. But odly enough, the more serious collector as well has been buying these smaller pieces. I see it as a new trend perhaps in the photograph collectible market...the sub 8x10 sized photographs (ah..but what the fuck do I know eh?).
My own Photograph/Art collection has been bought mainly with the proceeds from my Photograph sales over the years. Yes..including the Bruni/Newton.
Reinvesting back into the Arts you could say.
bt
I've listed higher priced limited edition prints on my website along with smaller sized prints at more affordable prices, but as no one has bought anything (except for one fellow who bought half a dozen cheap prints of one particular model he liked), I have to call myself a failure at the whole marketing thing.
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