Do pricing rules about never lowering prices apply to me?
No, those rules only apply to the top 0.01% of artists—the ones selling at Sotheby’s or represented exclusively by high-end galleries. Art follows the power law, meaning a tiny fraction controls the majority of the art market. The conventional wisdom that prices must start high and only increase, never decrease, literally only works for artists at the very top. For the vast majority of artists selling direct to customers, these rules don’t apply. You can raise or lower your prices at any point. The reality is that most art doesn’t appreciate in value over time—that’s another myth. Think of it like sports: how many people play a sport recreationally versus how many are professional athletes? That ratio is similar to the art world. There are the ‘professional athletes’ at the very top of the market, and then there’s everyone else trying to make it. Don’t let rules designed for the elite tier paralyze you. Set prices that make sense for your business, adjust them as needed, and focus on building your customer base and marketing consistently.
Asked by an artist worried about pricing rules · Answered by Patrick · Art Business Webinar · 2026-06-22