Are Art Prices Negotiable? (A Guide to Buying Art) | ArtistryFound.com (2024)

FAQs

Is it OK to negotiate art prices? ›

Then, Start Negotiating

Consider approaching the subject by asking: “Is there a collector discount?” or “Is the price negotiable?” Galleries expect buyers to push back on price, so do not hesitate to ask. The standard discount is between 5% and 15%, depending on the overall price of the work and the gallery policy.

Multiply the painting's width by its length to arrive at the total size, in square inches. Then multiply that number by a set dollar amount that's appropriate for your reputation. I currently use $6 per square inch for oil paintings. Then calculate your cost of canvas and framing, and then double that number.

For commissions, reduce the amount of detail, or size. Negotiate time or timing. For plein air pieces purchased in situ, offer pieces done more quickly. In the case of a commission, extend the time period for completion so that you can accept other commissions in that time frame as well.

In general, an artist's career stage will hint at how much an art piece will cost. The cost of a piece of art for emerging artists ranges between $200 and $800. Works from mid-career artists are priced around $1000 to $5000. Work from established and deceased artisans cost over $10,000.

Art dealers make money from the sell of artworks. Usually art dealers get a commission of the sell. The commission can range from 30 to 60% in the primary market. The secondary market is rather different, usually commissions here start at 5% for artworks over a million and can scale to 20% for art works under $100,000.

Most artists charge a fixed price per square inch on the canvas and multiply that dollar amount by the size of the canvas. For example, an average price point is $1 per square inch. If you request a 16" x 20" art piece, that is an area of 320 inches. 320 x $1 per square inch is $320.

Galleries often add on anywhere between 33% and 100% to your price as their commission. Commission on work sold through boutique shops or specialist stores may reach as much as 250%, or more.

Let the artist know why specifically you would like them to make the piece. What is it about their work that intrigued you? Prepare yourself to answer these questions artists might be ready to ask you when considering accepting your project. DON'T assume that every artist will want to accept your request.

What Does It Mean to Commission Art? Commissioning art is when a client hires an artist to create an artwork based on their request. The history of art on commission is wide-ranging. Rulers and government bodies have commissioned portraits and statues to demonstrate their power, privilege and wealth for centuries.

How do you politely decline an art commission? ›

Tell them about the work you normally create, and let them know this is something different – and you probably wouldn't be able to do the commission to their satisfaction. Only accept the commission if they say they want it anyway, regardless of the outcome. (This is the best type of client!)

If you have the money, investing in art can not only add beautiful aesthetics to your home but can be a good investment if done right. Focusing on original pieces and items that are rare can boost up the value, and making sure you don't sell in times of recession can ensure you're getting the most for your investment.

Instead of asking what a specific piece costs, you can simple ask something along the lines of: I like your work, but am limited in the funds-department. Is there something for me to consider in the price range of $x? Don't worry, I'm prepared for a "No sorry, that's not enough" answer!

Aaron Cezar: Price is what you pay for something. Value is what you give it. Adel Abidin: Value is the quality of the artworks in terms of concept and the depth of the idea behind the work plus the execution of the work.

Not having established trust is almost always the reason a person won't buy from you. It isn't that you are too expensive - its that you haven't convinced them of your value. As an artist, this means something a little bit different than being a service or necessary product provider.

Look for quality – When purchasing art from a new or little-known artist, it's important to make sure the piece is made using quality materials. Poor materials will not age well and can lead to deterioration and depreciation. Look for originality – Perhaps most importantly, make sure their style is their own.

Scarcity and renown go hand in hand. The more renowned an artist is, the more their work will be in demand by collectors and institutions. Subsequently, the price of the work increases to reflect demand. Renown also increases the perceived value of a piece of art.

Initiate bargaining by asking something like, "Is that your best price?" Take a polite, positive approach. Body language and facial expressions play a big part. Look interested, but not so eager they'll feel confident you'll buy regardless. Smile and be friendly, but be prepared to walk away if necessary.

You can increase your asking price by enough to still get as high as your list price after paying the buyer's closing costs. If your list price is $200,000, and the buyer offers $190,000 with $6,000 toward closing, you would counter with something between $196,000 and $206,000, with $6,000 for closing costs.

Popular Art Print Sizes

The top three print sizes, in order of popularity, are 10” x 8”, 10” x 14”, and 12” x 12”.

How do I know if my art is worth selling? ›

Consider finding an appraiser to determine the value of your artwork. Appraisers are trained specialists who work for a fee. They evaluate your piece and give you a written statement of its value. Although the following organizations do not provide appraisals themselves, they each publish a directory of their members.

Park West Gallery is the world's largest art dealer, bringing the experience of collecting fine art to more than 3 million customers since 1969.

Many commissioning artists require a deposit up-front for projects. This deposit may be a percentage of the overall quote of the commission. A 50:50 payment option is typical for many artists, with 50% paid up-front for the work and the other 50% paid upon approval and delivery.

Again, it is not required. A tip should come out of your desire to give a little something extra to show that you had a great time. Of course if you didn't have a great time, feel free to leave us the other kind of tip which are suggestions on how we can improve your experience.

The art used for (physical or digital) products is usually a subject of the artist's choosing. Because more than one person can buy a copy, the price of these items can be fairly low. Conversely, commissioned artwork is a custom piece made for one specific buyer, and the typically higher price reflects that.

The pleasure of owning it

that it is a famous piece of work. Moreover, this art enriches their immediate environment, their homes, offices, or somewhere in between. They want places where they spend the most time to be aesthetically pleasing. Art hanging down the walls of an office gets the creative juice flowing.

Misconception: Artists have to pay to show their art at galleries. Reality: Not true. Some galleries might like you to believe that, but the artist/gallery relationship is like a partnership of sorts. Galleries provide their artists with space to exhibit their art and the artists provide the galleries with art.

Commercial galleries look for art that will sell well. Since that fact is rather hard to determine, they will consider things such as whether or not you have an established track record of sales. If you don't have a sales history, they will judge the work by their own reaction to it.

The average profit margin for an art gallery can vary widely depending on several factors such as location, expenses, and sales volume. In general, the profit margin for an art gallery can range from 10% to 40% of the sales revenue.

Title to the artwork passes to the client or commissioning agency/organization upon their written acceptance of and payment for the work, but copyright belongs to and remains with the artist.

Should I do art commissions for free? ›

When to do Free Commissions. Free commissions are a great way to get some practice, especially with subjects you might not pick yourself. One of the worst things you can do as an artist is find one thing you're good at and never expand past that.

There are many reasons why a buyer wants a commissioned art piece, for example, it could be they could not afford existing artwork. Businesses also commission work they can incorporate into their branding or use for a particular project.

There is nothing wrong with signing the front and many, many highly regarded artists embrace this tradition. One thing I know for sure: Sign it somewhere! Like the gallery director mentioned–signing on the back (verso) is an option. You'll drive future curators and historians crazy without the signature and date.

An artwork's provenance, the documented history of who it has belonged to, is a huge determining factor in its value. For example, if a painting was once owned by a celebrity, a prominent collector, or perhaps a respected gallery, it will certainly attract higher offers when put on sale.

Works by contemporary artists are the best-performing segment in the market, but an acclaimed original painting by a legacy modern artist is more certain to appreciate in value . Even lesser-known pieces could go up in value if they're attached to a famous name like Picasso or Dali.

In the art world, negotiating prices is generally viewed as part of the buying process. That's just the way it is. Ask any gallery owner; they have to negotiate prices all the time. Always keep in mind that anyone who is willing to make an offer already likes your art enough to want to own it, and that's saying plenty.

Unexperienced art buyers are often reluctant to inquire about a discount. However, if you are unable to afford a full price, you shouldn't be afraid to ask for a small reduction. Many galleries even expect a bit of negotiating. After all, it's better to sell an art piece with a discount than not to sell it at all.

Polite way of asking the price Please let me know a variety of phrases with which I would ask the prices to my friend, "Do you mind telling me how much it cost?" Is that correct? "How much does this cost?" "How much is this?" "What does this cost?" Replace 'this' with 'it' if you're already talking about the item.

What color paintings sell best? ›

Blue, red, green, yellow, purple, and orange are the colors that tend to sell best in the art market. Each of these colors has its unique qualities that appeal to different art collectors and interior designers.

As mentioned, the market value is mainly determined by the galleries and auction houses. The consensuses that are born in this context are accountable for establishing a history of pricing for an artwork or an artist, which helps new works or works resold on the market to be priced.

As an artist, it's very, very personal. We're creating and expressing how we feel and what we see and when it comes to selling a piece of art, it's hard as it becomes a part of you. Selling something for someone else is easy as you don't have that personal, emotional connection that you have with your own art.

The Art Market Follows Rules of Its Own

One major perk of art as an asset is that its value doesn't rise or decline with the stock market. Even if your stocks aren't performing well, your art investment may be doing great — good news for the savvy investor who wants to diversify a portfolio and minimize risk.

This makes the art market bigger than the recorded music industry, a fact few would expect! in sales in the USA and Europe combined and growing at around 12% each year with the online segment growing at 19% each year. Again huge, and growing fast.

Art is good when it masters the artistic elements and principles. A Formalist artist focuses on an artwork's form—the way it's made and what it looks like. In a successful piece of art, the visual features are most important: line quality, color, composition, and other artistic elements and principles.

The list of top-selling art mediums includes limited-edition offset-litho prints, limited-edition giclée prints, open-edition offset-litho prints, oil and acrylic paintings, watercolors, artists' original prints, and open-edition giclée prints.

For example, many of the greatest works of art ever created are considered priceless. That means that an item is invaluable. These items are rare or of great quality. Their values are so great that they can't be calculated in terms of money.

Can you barter for artwork? ›

Some artists stick with simple pricing formulas while others might negotiate by the piece of art. But what some artists might not consider is the option of bartering—trading their artwork for other goods or services without the exchange of money.

Let Them Walk Away. When a customer pulls the “your art is too expensive” card, sometimes the best course of action can be to let the sale go. If you can tell they are more focused on shaming you into a lower price than understanding the true value, then they probably aren't worth your time or explanation.

Don't be afraid to put your negotiation skills into use whenever you and your painter are deciding on the final price of the paint job. Tell them what you want to pay and ask if they can swing it; you might just get lucky and pay less than their initial asking price.

How much money do Art Dealers make? As you'd expect, it depends on the type of art and the volume of sales. It's generally commission based, and tends to range anywhere from 5% to 50%. The majority of our sales are in the $200 to $4000 range, and commissions are usually between 10% and 40%.

Consider finding an appraiser to determine the value of your artwork. Appraisers are trained specialists who work for a fee. They evaluate your piece and give you a written statement of its value.

That is why prices are often not so public.” There are of course other motivations for keeping prices secret. As the director of a prominent London gallery told artnet News, “We don't like to speak about prices to prevent our clients' spouses or the tax authorities from finding out about their purchases.”

The pleasure of owning it

that it is a famous piece of work. Moreover, this art enriches their immediate environment, their homes, offices, or somewhere in between. They want places where they spend the most time to be aesthetically pleasing. Art hanging down the walls of an office gets the creative juice flowing.

Prestige – Some people want to own art strictly because it makes them look a certain way. This is a psychological need as well. Wanting to look good for others or have people who are higher in social standing than you like something you have is a huge accomplishment.

Thank you so much!” That's right, the client is going to thank you. At this point it is perfectly appropriate for you to say “Thank you – enjoy!” Keep a smile on your face during the whole exchange.

Values are best understood when visualized as a scale or gradient, from dark to light. The more tonal variants in an image, the lower the contrast. When shades of similar value are used together, they also create a low contrast image.

In what way is negotiation an art? ›

The act of negotiation does not always bring about a definite or predictable result. Therefore, negotiation appears to be an art, not a science.

One valuable way to generate a level of predictable income is through commissioned works of art. Standard commission terms call for 50% payment upon signing, and 50% upon completion. If an artist is able to secure six commissions over the course of a year, they can expect twelve incoming payments.

While ZipRecruiter is seeing salaries as high as $131,837 and as low as $16,283, the majority of Art Dealer salaries currently range between $34,140 (25th percentile) to $68,281 (75th percentile) with top earners (90th percentile) making $104,523 annually in Los Angeles.

Reach out to the artist to see if they are taking commissions and will accept the type of work you would like done. Many artists can be contacted by email or a gallery can help make the connection for you. You never get a second chance to make a first impression. So, make the initial contact a pleasant one.