How to Add Value to Your Art So You Can Raise Your Prices

07/09/2020

Throughout your art career you'll want to engage in activities that will add value to your art so you can forecast the best time to raise your prices. Every career choice you make is either going in an upward direction or causing your art to decline in value. There are several key benchmarks that define how the value of art is determined. The more valuable your art becomes the more justification you'll have for charging more for it. This article shows you how to add value to your art and what steps to avoid.

Strive to Achieve

An increase in sales each year for several years. Experts say when you're selling at least half of everything you produce within a six-month time period you can increase prices 10-25% each year.

One-person exhibitions in respected galleries, museums and alternative spaces

Highest quality art materials and printmaking methods

A strong networking support system

Annual one-person and group exhibitions without time lapses

Exhibitions on different continents

Positive reviews in leading art magazines and other forms of publicity

Identifiable branding (also known as "wall power")

Sales to well-known collectors and celebrities

Sales to museums, other public collections and major corporations

Public art commissions

Sales in auction houses

Awards, grants and fellowships

Published review by a recognized arts writer/critic

Scale and complexity of the art and media

Artistic originality and innovation with a clear signature style and vision

Strive to Avoid

Shows in vanity galleries

An outdated website

Inconsistency in artistic styles

Art that is derivative

Lack of confidence

Apprehension of advances in technology

Participating in amateur exhibitions and websites

Lack of knowledge about the art world and business of art

Projecting an impoverished ("poor starving artist") attitude

Having relationships with unscrupulous dealers

Lack of or disorganized business records

Being a loner

Creating art to "fit the market"

Lack of creative progression

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