How do I price my work? This is one of the most commonly asked questions in the art world. It’s the business of art … and the art of business. I’m not an accountant and this isn’t legal advice, so please don’t sue.
You’ll notice I didn’t say “it depends on how good you are.” Salvador Dali was one of the first wildly successful self-promoters in the Western art world, and the early work that he sold wasn’t the best out there – and it didn’t have to be. He was good at sales, and he sold his brand. One notable local artist who excels at promotion through his line of clothing and website is Tad Smith, who won first place last year at the Durango Autumn Arts Festival. His brand extends to the palette of colors in his paintings and once you meet him you want to own his work, for he is as kind as he is talented.
People often buy you, the artist, and then they buy your product. If they like you, they are more likely to invest in your business. A strong digital portfolio and online presence helps tell your story and gives a relatable platform to your future patrons. Your patrons are investors. They are hoping to enjoy your work for years to come, but are also hanging their hat on the possibility that your work will increase in value. More people are investing now than ever before because art is accessible, and the global online marketplace has opened up a new world to creatives and buyers. According to the Statista Research Department, Americans spent $1 trillion shopping online in 2022. Worldwide, shoppers spent nearly $6 trillion. As an artist, you could enjoy a piece of that pie, but how much of it is up to you.
Business plans can help. Visit the library and spend time in the business section. I especially like “The Lean Startup,” by Eric Ries. Creatives make excellent business people because they’re passionate and also great at problem-solving.
We all have a vested interest in seeing to it that Durango keeps its creative forces strong and successful. When you’re ready to show your work, call me – I know of just the place to help you get started.
For more information, visit DurangoArts.org or https://linktr.ee/durangoartscenter.
Brenda Macon has been executive director of Durango Arts Center since 2018.