How should I approach negotiation on my artwork?

Negotiation is normal and happens throughout the art world, especially at the mid-to-high end of your price range. The key principle is: never negotiate down without getting something in return. For example, if someone wants to pay $300 instead of $350, respond with “If you take it today, I’ll drop the price to $300.” You’ve created a condition (immediate purchase) that makes you feel good about the concession. Mark up your mid-range prints by at least 250% (a $100 print becomes $350) to give yourself room to negotiate. This strategic markup allows you to make sales you wouldn’t otherwise make while protecting your psychology and maintaining the value of your work.

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Asked by an artist unsure about negotiating · Answered by Patrick Shanahan · art-marketing-podcast · 2022-06-06