I can calculate the value of my huge ass pickle jar of change but how does one put a value on a piece of artwork? It's a struggle for most artists. We either overprice our work or more times than not we under price our work.
Today I made the decision to not under price my work. This isn't the easiest thing to do, especially when I could have had some quick cash from a gentleman who collects art and seems to dig my stuff. I was thrilled to be contacted by the gallery, informing me there was a buyer interested in one of my pieces. My first thought was, "Hot damn! A complete stranger likes my work!". My second thought was, "Woo-hoo! Money!".
The gallery put me in contact with the potential buyer to negotiate a purchase price. I knew I wasn't going to get the full amount but I was willing to offer a 10% to 15% discount. The collector and I spoke on the phone and had a lovely conversation. He then presented his offer...a 50% price reduction. That second thought I had earlier...you know..."Woo-hoo! Money!"...that disappeared. I politely explained to the man that I was prepared to offer a 15% discount and that I needed to profit a certain amount from the piece after the commission fee was paid to the gallery. As the words left my mouth I was wondering if I was going to regret declining his offer but you know what? It felt great and I have yet to feel bad about it. This is huge for me. I realize I value my art. Better yet, I value me and all the hard work I put into my work.
Our conversation ended with him wishing me a happy Mother's Day and me congratulating him on a new grand-baby. He proceeded to tell me he would be keeping an eye out for me and my art and plans on following my career.
Hot damn! A complete stranger likes my work! And hot damn! I like it too! That's more valuable than a huge ass pickle jar of change and a quick discount sale of art for the sake of saying I sold a piece.
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