What are the two fundamental building blocks of a successful art sale?

A successful art sale fundamentally requires two things: incentive and scarcity. The incentive is the deal itself—whatever you’re offering to motivate people to take action and buy. Scarcity means the sale operates on a finite timeline—it expires in 24 hours, 48 hours, or by the end of a specific event like Black Friday. Both elements are essential, but scarcity is absolutely critical. Never underestimate the power of scarcity—it’s like the force that carved Yosemite Valley over millions of years. Without a clear deadline, sales become dramatically less effective.

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Asked by general teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2020-08-21