How should I price my artwork to maximize sales?

You need a pricing range across multiple tiers because human beings make purchasing decisions based on comparison. Have items in the $0-100 range, the $100-1,000 range, and over $1,000. Even if you don’t intend to sell your highest-priced items right away, having them visible makes mid-range items feel more accessible. It’s like a car dealership showing an expensive model in the showroom - psychologically, it makes the mid-priced option feel more reasonable. This ‘Goldilocks effect’ lets customers find what’s ‘just right’ for them while the high-end pieces add perceived value to everything else.

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Asked by a college-age artist selling mostly low-priced prints · Answered by Patrick Shanahan · art-marketing-podcast · 2024-10-15