What pricing structure should artists have to maximize sales across different economic conditions?

Set up pricing from $0 to over $1,000 in clear tiers: merchandise and small items under $100, mid-range prints and products $100-1,000, and originals or large limited editions over $1,000. Include non-wall art merchandise like photo books, calendars, phone cases, greeting cards, or other items in the under-$100 range. This complete range protects you during economic uncertainty because buyers use comparison to make decisions—they’ll anchor on your higher prices, then step down to what they can afford. If you only offer high-ticket originals and limited editions without lower price points, people see ‘too expensive’ and leave entirely.

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Asked by synthesized from teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2023-06-02