What pricing approach should I take for a basement sale?

Price the work to move. Let buyers know that no reasonable offer will be refused. The goal is to move inventory that’s been sitting in storage. If needed, you can go as low as the cost of the canvas. This is old work you’re clearing out, not your current pieces, so you can offer price points you would never offer on your newest work. The differentiation between old inventory and new work is clear when you frame it as a basement sale. Remember Picasso’s advice: don’t price too high—what matters is selling a large number of pieces and getting your work out into the world.

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Asked by general teaching point · Answered by Patrick Shanahan · art-marketing-podcast · 2021-02-20