How should I position myself as an artist in a down economy?
When consumer confidence is down, so are art sales. Even people who aren’t that impacted by the soft economy are hesitant to spend because they aren’t sure what lurks in the future.
Facts are that selling artwork isn’t easy even in a healthy economy and at difficult times, it can seem downright impossible.
But confronting adversity is a fact of life, especially for artists and any artist who expects to be successful must continually adjust to prevailing conditions in order to survive.
One consideration for any artist riding out a slow market and selling less artwork is to get flexible fast, particularly with respect to prices.
Despite our gut reaction to our own work, art is a commodity just like any other. Prices fluctuate. If you too close equate prices with your “worth” as an artist you significantly compromise your ability to survive a bumpy ride.
Do not lower your prices so much as to upset previous buyers, but if you do find yourself needing to explain lower prices to the people who bought your work when it was more expensive, relate your fluctuation to the lower real estate prices, lower stock prices, or any other prices that have fallen as a result of the current economy.
Just because your artwork is more affordable today does not mean it won’t adjust accordingly in better times.
You are doing what you have to do to stay in the game and to keep your collectors in the game, too. This is a brief fluctuation in the continuum of your art career, and it won’t last forever.
There’s never been a better time to buy your artwork than right now. That’s the pitch!
