Where to go? How to reach my potential clients?

[Michele Rushworth]

I know of someone who got a used version of Calvin Goodman's book through Amazon, though it was a 1985 edition so a lot of info is out of date. I don't know if it's available except directly from Calvin.

[Tom Edgerton]

Carol's right...publishing a price list, or at least an entry level price, keeps you from wavering when someone tries to negotiate a reduction. Some folks just always do. They're not mean, they're just made that way.

Remember too, that when you raise prices--which you should do at some kind of regular interval as your skill accrues--you will always leave a segment of the market behind. You can't be all things to all people, pricewise. You're running a business.

A plumber doesn't come to your house and ask you what you'll pay to fix your pipes.

[Karine Monaco]

Thank you Tom for the quick reply!

I am glad everybody starts to talk again in this thread. Looking forward to hearing fresh and new information about Sophie and you all.

Thanks again,

Karine

[Debra Jones]

The best idea is to raise them when you are JUST about busy enough for a rest.
In all things, it is a supply and demand situation. The best way to tell if your skill is increasing is to see how much the public is demanding you.
If you can keep up with your orders and you like the pace and income, you are just right. If you are a bit too busy, raise the pricing. One or two potential clients will not consider you but the rest will replace the income and when you get back to the same rate of production, your income will go way up.
It is not the BEST idea to arbitrarily keep raising prices without the equivalent demand.
It used to be hard for me to avoid the urge to keep discounting, but the client who sees what they want appreciates the simple and direct answer. I am much more comfortable with explaining my pricing is increased with added content... AND sticking with it!!

[Joan Breckwoldt]

Originally Posted by Debra Jones

It used to be hard for me to avoid the urge to keep discounting, but the client who sees what they want appreciates the simple and direct answer. I am much more comfortable with explaining my pricing is increased with added content... AND sticking with it!!

It is so hard for me not to offer to paint portraits at a discount for friends and acquaintances. My main purpose of painting people is because I enjoy painting people, and I am still building my portfolio. Yes, I do like being compensated for my work (otherwise I would be painting for free), but it's more important for me to paint portraits that people enjoy and get those portraits in people's homes so I will get more commissions.

Rereading my post makes me sound like the worst business person ever. Why not just lower my prices if I think they're too high? Well, I would probably want to discount that! I must somehow think it's the 'friendly' thing to do.

I think this gets back to the main problem of being an artist who has a hard time valuing my own work. Hmmmph. I can certainly see how it would be better to have ONE price list and stick to it, I can see how it would be too complicated to offer this person or that person a discount, but maybe NOT that person a discount. This doesn't sound professional at all. (Michele, I have learned so much from your professionalism, you're probably cringing right about now.)

So, are there any reasons to offer a discount to a first time customer?

Joan

[Tom Edgerton]

I appreciate all of these comments...

I do see a problem with the notion of charging a basement-level price with the expectation that it will "get one's foot in the door." A lot of artists start this way, and it's a trap. Unless you live in a very large town, word gets around that you work cheap, and that you're susceptible to discounting for no reason if asked. Thus, people realize your price isn't really your price.

I've been at this long enough to know that--except for the advertising I think I have to do because I'm afraid not to--a very large percentage of my commissions will be word-of-mouth referral or repeat business. If you've given the work away at the beginning, you will fight for the rest of your career to overcome the stigma of a chronically too-low price because believe me, word gets around. And it's hard to change people's perceptions of you later.

Better I think to assess, as objectively as possible, where on the portrait curve you fit by looking at the prices of comparable artists (you can start here at SOG), and averaging those and starting there. If you're going to be painting people anyway, why not get decent money for it from the beginning? Better to charge as much as you can and still look at yourself in the mirror than to hamstring yourself by starting out too low. One side effect is that you will work very hard (and get better faster) if you are trying to be worth what you're charging. I scared myself this way when I launched the business and it actually was a very good motivator.

Factor in the "perceived value" aspect, where folks assume if something costs more it must be better whether or not it actually is, and you begin to see how complex it gets.

In regard to discounts, a good rule of thumb is to never, or at least rarely, give an "unearned discount." For example, offer a discount if someone will give you an unveiling party at their house and invite thirty of their wealthy friends. But don't discount unless you get something back for it.

Artists can be their own worst enemies when putting a value on their work. It's difficult to be hard-nosed about this--it's a learned skill--but your creditors will appreciate it.

(I think Debra's advice about raising prices is right on the money. I'd just add that occasionally you need to check for inflation. Several years ago I hadn't raised prices in a while, and I suddenly realized that comparable artists had left me behind because I'd been distracted by other things, like trying to be a better painter.)

[Joan Breckwoldt]

Hi Tom
am so glad that you posted your wisdom on this thread. I have reread your words three times now and they make a lot of sense. The problem gets down to really putting a fair price on my work.

It is just hard for me to utter large sums, or even have them posted on my website, for some reason. I do feel my work is valuable, but on the other hand I am "just starting out" - though I'm really not sure how much that matters.

I am also afraid I'll price myself out of any potential business if my prices are too high. Though, as you so eloquently pointed out in your post, low prices can be a career-long trap.

And I think your comment on "perceived value" has a lot of merit in our society today. If something is priced too low, how can it be any good?

I am guessing many portrait artists have this dilema, thank you for your wise words. And I am now convinced that I should not be offering any discounts. (That was quick!)

Joan