HOW TO PRICE YOUR ARTWORKS

Here are highlights of the fourth chapter of the book “How to Survive and Prosper as an Artist”.

(Take note that the author’s base is New York. We welcome inputs on the local situation.)

1. Recognize the value of your time and your talent. The goal is clear: to derive a decent income from doing what you like doing best. Fear-based thinking is responsible for the difficulties artists have in establishing prices for their work. It has everything to do with self confidence and a willingness to defend your prices and take some risks.

2. Many artists tend to undervalue their work, with the belief that their careers haven’t measured up to the criteria necessary to justify charging higher prices or a fear that by setting prices that compensate them fairly, their work will not sell. But when artists set low prices on their artwork, it is a public declaration of their insecurities and lack of confidence.

3. Some dealers believe the myth that the work of unknown artists has little value.

4. You need to consider and integrate three factors: pragmatic pricing, market value and confidence in the price you set. Pragmatic pricing includes the time you spend creating work, conceptualizing and developing to completion. It also includes cost of overhead and materials. Include studio rental, utilities, professional fees, transportations, documentation and materials. Assign an hourly or weekly value to your time. Include too sales commission.

5. Large out-of-pocket costs should be deducted before a dealer’s commission is calculated.

6. Find work that is allied to your own and also compare their career levels to your own.

7. Set a value well above the price you actually want. This way there is bargaining leverage for any discount.

8. A price list should state the name of the artwork, medium, size and retail price. A dealer’s commission is generally based on a percentage of the retail price. Large overhead expenses are separated out on the price list so that an art dealer is not paid a commission on your overhead.

9. Agree to a joint discount with dealer or gallery only if either the client has previously purchased your work and/or the client is simultaneously buying more than one piece of your work.

10. Set the same high standards for pricing works as you do for creating the work. Do not be afraid to negotiate.

HOW TO PRESENT YOUR ARTWORKS

1. Art statement. An art statement can focus on one or more topics, such as symbols and metaphors, materials and techniques, or themes or issues underlying or influencing your work. Although artists vehemently criticize the over-intellectualized style of writing used in art magazines, many believe that their work will not be taken seriously unless they imitate what they despise. Avoid weak phrases that reflect insecurities, or doubt instead should be coherent, direct and energetic.

2. Cover letter. It can provide a context to help people view your work. Parts of cover letter: Introductory paragraph, a brag paragraph, short art statement, concluding paragraph.

3. Visual presentations. Photographs (whether printed, cd or usb) should do your photos justice. If viewers are unimpressed with the work as it appears in photographs, it is unlikely that they will get to your studio or to gallery. All photos should be labeled with the works dimensions, the medium, the title, your name, a copyright notice and the year created.

4. Brochures or postcards. Postcards can have a response rate of 10 percent

5. Website. Make it easy for viewers to visit, make sure images are top notch. The artworks should be labeled with the title, dimensions and medium. Avoid designing a site that has the look of a mail order catalog with many images grouped together and prices underneath.

ART FAIRS ARE ABOUT MONEY, NOT ART

Here is a summary of a debate on abovementioned subject:

Art fairs, scoff the critics, have become shopping malls for the super-rich. They are giant marketplaces for the wealthy to buy, invest and speculate on the commodity of art. Galleries pressure artists to churn out 'safe', sellable works, which are not so much looked at as bought in bulk. But are art fairs in fact the perfect format for visitors to see art from all over the world which they wouldn't otherwise see? And by allowing artists to show their work to potential buyers en masse are these shows a crucial lifeline for artists today?

The panel debates the motion: Art fairs are about money not art. Chaired by Simon de Pury

Arguing for the motion are Louisa Buck, Jasper Joffe, and Matthew Collings.

Louisa Buck begins the defence with the claim that art fairs are commercial, rather than curatorial in nature. She believes that art fairs provide an opportunity to see how the art world operates and to see what it deems to be good art.

Jasper Joffe argues that collectors, rather than artists, hold the power at art fairs. This ultimately corrupts art and hinders both creativity and the emergence of a meritocracy in the art world.

Matthew Collings argues that art fairs are by definition consumerist. Art fairs are one of the worst ways to encounter art because art exists, and should exist, as an antidote to consumerism.

Arguing against the motion are Richard Wentworth, Matthew Slotover and Sir Norman Rosenthal.

Richard Wentworth argues that it is up to the individual to choose whether to visit an art fair and to make their own judgements about the art exhibited there. Art fairs exist as one component of the process of developing self-knowledge.

Matthew Slotover argues that the primary aim of art fairs is to buy and sell art, but also to provide visitors with an opportunity to encounter a wide and thought-provoking range of art.

Norman Rosenthal explains that art fairs are merely one way of encountering art. It would be hypocritical to suppose that art should not be about money when all those participating in the industry need it to support themselves.

Final Vote: A show of hands of the audience revealed that the numbers of those in favour of the motion and those against the motion were about the same, with a small minority undecided.

YOU DON’T NEED GREAT SKILL TO BE A GREAT ARTIST

Here is a summary of a debate on abovementioned topic:

Some of the most important voices on contemporary art tackle the contentious questions: Is craftsmanship still important in creating the great art of our times? Are conceptual artists taking us for fools? Is there more value in art “made” by an artist’s own hand? Is skill in art limited to the technical? Do auction results or museum endorsements create the great artist?

Speaking in favour of the motion 'You don't need great skill to be a great artist' are Anthony Gormley and Tim Marlow.

Anthony Gormley argues that artists today are presented with the unknown and that skill is less important than many other factors in the making of a great artist.

Tim Marlow argues that mimic and trickery are ever-present in the history of western art and that skill is but a small component part of a great artist.

Speaking against the motion are Sarah Thornton and Hans Ulrich Obrist.

Sarah Thornton expands on the definition of ‘skill’ in order to argue for the necessity of a vast number of skills for great artists and the manner in which they should be employed.

Hans Ulrich Obrist again expands on the idea and definition of skill in art. He argues for the fluidity in the nature and range of skills necessary for artists.

FInal Vote: 248 For, 157 Against, 6 Don't know

PRACTICAL CONSIDERATIONS FOR ARTISTS

Here are highlights of second chapter of the book "How to Survive and Prosper as an Artist:

1. Artists have the same need as other people to set goals and plan their careers.

2. Read note file and retrieve. Focus on real art news and career guides not just art reviews and critical essays. These resources contain info on the business of being an artist including directories, grants, exhibitions, legal and accounting, health hazards, laws, etc.. (Is there such a publication or website for Philippine artists?)

3. Set up files for various categories like grants programs curators, organizations, galleries, press contacts, websites, contracts

4. Create mailing lists for directors of galleries, curators, architects, art critics, editors, fans, collectors. Include specific names.

5. Consider a career advisor who will assist with all aspects of career planning and knowledgeable about the many facets, options and opportunities to artists.

6. Know the law, contracts, copyright, wills and estates, sales , income taxations. Artists should never feel intimidated helpless or victimized. Some artists are averse to the use of contracts because they naively believe that people who sell buy and exhibit are good kind and trustworthy. Or they erroneously believe that they have not achieved a level of recognition or success that permits them to ask for what they want or deserve. Requiring dealers to use contracts is not a sign of mistrust. Rather it shows that you take yourself and your work seriously.

7. Artists estates. You must take the initiative in planning for the survival of your work for your chosen beneficiaries. Estate planning for your works should be seen as an act of self respect.

8. Accounting. Know tax treatments and keep records to keep track of your artworks in terms of money.

9. Health insurance. Pension Plan. Create a nest egg for when you will be old and retire.

10. Health hazards. Various materials used by artists are directly responsible for serious health problems including cancer allergies etc

LAUNCHING AN ARTIST’S CAREER

First step: Overcoming Career Blocks/ Myths

Here are points I highlighted from first chapter of Caroll Michels’ book “How to survive and Prosper as an Artist”:

1. The myth of the artist.

The myth tells us that struggle, complexity and suffering are necessary components of creativity, and without these key elements an artist will stagnate. The myth tells us that the desire for comfortable lives and financial success will ultimately poison and distort art. Many of the basic problems of artists are created by their feelings of insecurity and helplessness. It suggests that artists are like herds of animals that used to be contained in an environment where their master can control their lives.

2. Denying “Fine Artist” as a valid profession.

The myth casts great doubts on whether being an artist is a valid profession. The implication is that an artist can seriously dabble in art but shouldn’t take it seriously as a profession.

3. Dual careers and low-income expectations.

Low expectations of artists’ earning power have given rise to the practice of dual careers. But anyone engaged in a dual career understands that it creates a life-style of frustration, confusion, stress and guilt.

4. Insufficient training of fine artists

Artists are set up for a difficult career by the omissions from art education of business management and competence in it.

5. Confronting money issues.

There are artists who attach stigmas to the concept of prosperity such that they undervalue their work. Money martyrs think it is morally superior to ignore their financial needs and often become the victims. The most common money related mistake artists make is a reluctance to invest in their own careers.

6. Intimidation of visual art.

We have come to believe that good art can only be determined by the judgments and decision of art dealers, critics, curators, academics. Unfortunately many people within the art world believe this myth, including artists.

7. Validation and artists’ insecurity.

Emphasis on gaining approval from the art world has become so commonplace that few artist question the negative implications of looking for validation from external sources

8. Awe of vanity galleries.

Some artists will do and sacrifice anything to have a show in a vanity gallery.

9. Adolescent career goals.

Some artists equate success with being featured on a publications front cover, having their works included in the right private collections. Whereas a successful artist can simply be one who earns a living doing what he loves doing best – creating fine art.

10. Denying art is also a legit business.

HOW TO SURVIVE AND PROSPER AS AN ARTIST

Last night we bought from BookSale a jewel of a book entitled as above authored by New York-based Caroll Michells. It is the classic handbook for artists who seek to control their careers.

Chapters include:

1.Launching Your career

2.Presentation Tools

3.Pricing your work

4.Public Relations

5.Exhibitions and Sales Opportunities

6.Dealing with dealers and galleries

7.The world of grants

8.Generating Income.

At Sigwada Gallery we adopt best practices and give the best advice and best treatment to artists and buyers/collectors.