Why visible pricing improves art sales

Have you wondered whether to share your pricing, or keep it confidential so you have space to negotiate? In this article, I'll talk through why having clear pricing helps sell more art, and under what situations clear pricing might not be useful.

The case for clear art pricing

The benefits of clear pricing outweighs the risks. For artists, it promotes transparency, builds trust, showcases professionalism, and gives you an edge in a competitive market over people that aren’t prepared to show their pricing. In the Artsy Art Collector Report 2023, 58% of art collectors said that the biggest barrier to them buying art online was no visible price.

From the Artsy Art Collector Insights Report 2023

58% of art collectors said the biggest barrier to them buying art online was no visible price.

If this doesn’t convince you that showing clear pricing is important, here are some other considerations:

Transparency: Clear pricing demonstrates transparency and honesty in your business practices. When customers know exactly how much your art or services cost, they are more likely to trust you and feel confident in their purchasing decisions. This transparency can help build a positive reputation for your brand.

Avoids the need to negotiate: Unless you are the type of person who thrives on haggling, having to negotiate each art sale can be emotionally exhausting and can put the final sale at risk.

Avoids misunderstandings: Ambiguity in pricing can lead to misunderstandings and disputes with customers. When you have clear and straightforward pricing, there's less room for miscommunication or disagreements over the cost of your work.

Professionalism: Clear pricing conveys professionalism. It also helps potential clients or buyers take you seriously as an artist.

Time-saving: Clearly defined prices save both you and your customers time. Instead of having to inquire about pricing or negotiate, customers can quickly determine whether your art fits their budget.

Sets expectations: Clear pricing sets clear expectations for your customers. They know what they will receive for their money, which can help manage their expectations and reduce the likelihood of dissatisfaction.

Builds trust: Trust is crucial in the art world. When customers see that you are upfront about your pricing and don't engage in hidden fees or unexpected charges, they are more likely to trust you with their art purchases.

Customer satisfaction: Customers appreciate simplicity and clarity. Clear pricing can lead to higher customer satisfaction because it removes the uncertainty and anxiety that can come with unclear or hidden costs.

Value signal: In a competitive market, having clear pricing can make the value of your art more respected and you may attract more business. If you are curious to learn more, check out this Harvard paper on value based pricing.

This is a page from my online shop www.sarahdaly.art.

When clear pricing may not be useful

As with any insight about our art businesses, there are always cases where the opposite could be true. If you are doing work where you are targeting different types of clients, and you know they have different capacities to pay for the same thing, then not sharing pricing publicly would be clever. Also, if your art can be auctioned in the market and there is a chance of getting a price that is higher than a reserve price (think of real estate auctions and reserve pricing) then you are better not to give a definite price. These situations are probably rare for most online artists though. It is of course your judgement and overall sales strategy that will dictate how you price your work.

Here is a recent post where I talk through the pros and cons of transparent art pricing.

Read the full Artsy Collector Insights Report 2023

Don’t just take it from me. Head over to Artsy’s site, read the editorial and download the report. It includes art trends, collector tastes and online purchasing behaviour. I make lots of my decisions about my art business based on research, and large organisations with the capability to survey 1,200 of their collectors, well, for me, that’s gold!

About Artsy

Artsy isn’t the same as art marketplaces like Saatchi and Bluethumb. They don’t work directly with artists. It is more for galleries and auction houses, and for collectors to resell works. Are you an artist and would like to access Artsy’s collectors? You can find out more here.

Want to know more about pricing your art?

We do a deep dive into art pricing in the online course The Full Time Artist Formula.

In Step 5, we walk you through an easy way to price your art, that includes benchmarking yourself against other artists selling in your market. After this module, you will know how to account for the real costs of creating and selling your art, and price the right way for your art practice. Getting your pricing right is important to making a reliable income and feeling confident in going full-time as an artist.