Feel the fear and sell your art anyway

Add the price, I dare you.

Did you know your art is 4x likely to sell on social media if you include a price?

That’s according to art world economist Magnus Resch.

Magnus earned his Ph.D. in economics from prestigious institutions including Harvard, the London School of Economics, and the University of St. Gallen. He knows his stuff about the art market. I stumbled across him recently on Jerry Gogosian’s Podcast, Artsmack. Save it for later if you like…

Artists can often be strange characters, can’t they? Too afraid to discuss prices, attempt to sell their art or share it with others. I was one of those artists, I once struggled to sell drawings for $5 on Fiverr.com. I’m not completely over it either, but I’m getting more comfortable. Listening to Magnus’ insights has enabled me to relax over selling my art, not that I want to sell it less, in reality, I want to sell it more, as I know there will be at least 100 people in the world who truly love my art. (Out of 7 billion people on this earth, that’s 0.0000014286%)

Making these small changes such as sharing our art with prices in front of people, will enable people to buy it. Our emotions get in the way of displaying the price or even sharing work as we don’t think we’re good enough.

Another thing that Magnus shared is that most artists won’t make the secondary market. In layman’s terms; buyers who buy an artist’s work, may never be able to re-sell it. The top end of the art market is full of high-net-worth collectors who use art as a financial instrument, so why should someone buy your art if it never resells? Let me ask you, do you buy a pair of trainers hoping to resell them? Probably not.

You buy them because you like them and they’re comfortable.

Many people buy art because they love it.

Artists, you may wish to read those words in bold, again…

Why would you be so selfish as to keep your art to yourself? There’s someone out there in the world, going about their business who needs your art.

Back to Marcus Resch, states reasons to buy art:

Emotional and Aesthetic Pleasure: Art can provide immense personal satisfaction and joy. It enhances the aesthetic appeal of living and working spaces, contributing to a more stimulating and inspiring environment.

2. Cultural and Intellectual Enrichment: Art allows individuals to engage with diverse cultures, ideas, and histories. It can spark intellectual curiosity and provide a deeper understanding of various societal and cultural issues.

3. Support for Artists and the Art Community: Purchasing art directly supports artists and the broader art ecosystem, including galleries, curators, and other professionals. This patronage is essential for the sustainability and growth of the art world.

4. Investment Potential: Art can be a valuable financial investment. While it is not guaranteed, well-chosen artworks can appreciate significantly over time. Collecting art can diversify an investment portfolio.

5. Social Status and Prestige: Owning art can confer social status and prestige. It is often associated with a certain level of sophistication and cultural awareness. Art collections can also be a way to build a personal legacy.

6. Philanthropy and Legacy: Collecting art can be a way to contribute to cultural heritage. Donating pieces to museums or cultural institutions can preserve them for future generations and enhance one’s philanthropic impact.

7. Personal Connection: Many people buy art because they feel a personal connection to a particular piece, artist, or artistic movement. This personal resonance can be deeply fulfilling.

Resch emphasises that while the investment aspect is appealing, the primary motivation for buying art should ideally be the love and appreciation for the artwork itself.

With that in mind, I’d like to present to you for sale:

Memento Vivere

Acrylic on Canvas (2023) 96.52 x 121.92 cm

Price: £700 inc. FREE Postage and Packing to EU, USA and Canada

(Please message me if you are outside of those countries).