The Psychology Behind Why Artists Struggle with Pricing Art

art art business art career art market art sales art world community pricing Jun 02, 2023

By Sergio Gomez

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Today we're diving deep into the psychological challenges we face when pricing our art. I can tell you, from my own experience, that pricing artwork can be a challenging and often uncomfortable task for many artists.

Emotional Attachment to Our Work

First and foremost, it's essential to understand that our artworks are not just products; they're deeply personal expressions of ourselves. Each piece is a part of us, infused with our ideas, emotions, and hours of hard work. This emotional connection makes it challenging to assign a monetary value to our creations.
Take one of my abstract figurative paintings, for instance. It's not just paint on canvas to me. It's an exploration of life cycles and personal experiences. How do you put a price on something so intimate? This is a struggle many artists face.

Fear of Rejection or Devaluation

Another factor at play is our fear of rejection or devaluation. We fear that if we price our work too high, we might alienate potential buyers. Conversely, if we price too low, we risk devaluing our work or our worth as artists.

I've walked through numerous art fairs and exhibitions, noticing an artist's discomfort when asked about the price of their work. This fear and discomfort, I believe, stem from a deep-seated fear of judgment or rejection.

Lack of Confidence and Experience

For many artists, especially those starting, there's a lack of confidence and experience in pricing their work. Without a clear understanding of the art market and the factors that influence art prices, artists can feel overwhelmed.

I remember when I sold my first painting to a stranger. I felt a similar sense of being overwhelmed as I told the collector the price of my work. I was nervous and totally unsure about how to properly price my work. As a result, I charged him way too low the value of the work. Overcoming that initial hurdle took time and a lot of learning. Pricing your artwork is a skill that requires time, understanding, and practice to master.

Difficulty Quantifying Artistic Value

Lastly, it's hard to quantify the value of art. Art is subjective, and its value can vary significantly from one person to another. This subjectivity adds another layer of complexity when it comes to pricing our work.

Confronting the Pricing Challenge

So, how do we confront these psychological hurdles? That's what the Art Pricing Mastery Challenge is all about. Running from June 12 to 30, this challenge aims to help artists like you understand the principles of art pricing, build confidence, and learn how to price our work effectively.

Through this challenge, inside the Art NXT Level program, you'll learn from experienced professionals, ask questions, and share experiences with a community of like-minded artists. And the best part? You don't have to do it alone.

I believe in the power of community and collaboration, which is why I'm inviting you to join us for this transformative journey. Let's conquer the art pricing puzzle together, one step at a time. Click on the link provided below to sign up for the Art Pricing Mastery Challenge. I look forward to seeing you there.

JOIN THE ART PRICING MASTERY CHALLENGE