The Price is Right—Or is It? The Quandary of (Special) Discounts on Artwork (Portraiture Especially)

October 16, 2008

On October 16 (today), the Portrait Society of Canada has a studio day at Toronto Arts and Letters Club.  This will be a nice chance to reconnect through art-making, before its "The Miracle of the Portrait" Portrait Arts Festival and Competition (December 4 - 7, 09).  Recently, another of my "sharings" was included on the Artists Talk page of the Portait Society’s website. It is pasted below:

When I saw people for therapy, I had a sliding scale.  Different individuals had different needs (emotionally and financially). I tried to accommodate as far as possible, understanding circumstances and limitations.  Artwork, not surprisingly, seems to have sliding scales too.  That said, you can’t please all of the people (and yourself) all of the time. There is a point when too low is too low.  For instance, should a $2000 painting be reduced to $750 if it is a commission and you have a "soft spot" for the clients involved?  If you know they don’t have the means this is easier. (If they do have the means, it’s another matter.)  Then there’s those who like to spend more on the frame than the piece.  Again, a whole other story… Priorities, pressures, and obstacles are case specific, of course.  

What about the time, energy, and materials you have put in, as a professional (not for a hobby)? Are you worth a couple of cents an hour or more?  Is what you’ve created a "labor of love," or "slave labor"? Is a work of $2000 being sought for $750 as a bargain?  Or, should you create another piece that ’s more price-adjustable—a $750 work that really has a  $750 value?  Will it still be as pleasing and purchasable?  

Who and what really determines worth and appropriateness?  And, what about fairness, honesty, and trust?  Artwork has a sentimental, as well as investment/ commercial value. Also, instinct can blend with business savvy, or remain distinct.  We all (should) have our price points, as well as integrity and pride. And, of course, there’s experience too.  Capacities and expectations, however, may vary, for buyer as well as seller. And, cliché as it sounds, pride shouldn’t come before a fall.  Hardly surprising the term "starving artist" is so well known and a common reality.  Do others have hard and fast rules for how to deal with those who try to price adjust and bargain down? When does reasonable haggling become insulting?  When do you prefer to hold onto a piece rather than sell it at any price?

For more on related subject matter, please check out my "Candid Artistic Ramblings"  on the DocSusan website in the artist’s galleries section.

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