Saturday, November 8, 2008

Maintaining profits and sales in this economy

Here's something interesting-
I actually added an entire new size of works to my portfolio in the past few months, here's why:

In the past my work was pretty much on the large to really really large sizes, I started doing some smaller works just so I could add a lower price line to my offerings. I did this at the request and under advice from three different gallery owners and managers. My concern was that I obviously have to charge some serious scratch for my big stuff. So I thought it may be a good idea to offer prints (giclee) to my offerings to offer a lower price point of entry for my work. All these folks told me considering that I am fairly prolific that at this stage in my career they felt adding prints may devalue my originals. They suggested I offer smaller works, so this is exactly what I have done.

Yesterday I did my first show with the smaller works. I was blown away by the interest and sales of these smaller works. I price by the square inch and by doing this I was able to get some pricing below $250 on the smaller stuff. I also did them as mini-series so folks can buy one and add as they collect other originals in the same series or just get one and still have it be a finished piece in and of it's self. In this economy and feel this will increase my sales and bottom line across my works platform. This creates a patron relationship and opens possible future purchases.

I actually spend about the same time, perhaps even slightly less per inch on the smaller stuff; this really could be great on every level.

By the way, I have decided never to do prints!

1 comment:

Prachee Agrawal, One Stroke Certified Instructor said...

You said you do your show..or to do small art show? Can you elaborate more as how can we run our own art show? Do we have to include galleries? i simply think galleries cost so much just to add them in our list of work..any suggestions..?