Creatives are typically people who earn a living based on their talents. They, much like any other business, need insurance to protect their work. It goes without saying there’s no fixed price on a creative person’s work. This is because no two projects are the same. This article sheds light on how creatives can ensure they are adequately protected from issues ranging from copyright infringements and misrepresentation.
How to Ensure a Good Settlement Offer
Since no two creative jobs are alike, you will need an insurance policy that will reflect this principle. This will be a cushion just in case something happens to your craft and you find yourself needing to respond to the insurer’s settlement offer. Therefore, you need to ensure your pricing speaks for you. Find out how you can get more value for your work below.
1. Examine Similar Works of Art
Thanks to the internet, we now have access to tons of data that helps us set our prices.
Put on your internet hat and research on artists who produce similar work. This endeavour will help you determine what you can and should charge. Make sure you evaluate your work honestly and compare it to artists with similar styles, working in similar mediums, and selling in similar geographical areas.
2. Set a Price and Stick to It
It is commonplace that galleries often have a markup on creative people’s work. If you don’t have a gallery, strive to compare your work to artwork sold directly by other artists in similar positions.
If a gallery represents you, but you still plan to sell work from your studio at a lower price than it, it would be best to reconsider. Always make sure your studio and gallery prices are consistent with each other. Because when it boils down to it, and people buy your work from your studio or gallery, you can be able to maintain a good working relationship with the gallery.
3. Separate Feelings From Facts
This is tough. But it’s not easy to justify your prices to a potential buyer. Consider keeping a piece you really like, or one that has sentimental value to you, to yourself.
It’s easy to get attached to your work because you put so much into it. After finishing a piece, take a break to gain perspective. Then price it like any other product using a sizing formula. Where your work’s value should be based on its physical attributes and not your personal worth.
4. Have Different Priced Work
High-priced art may turn off some customers. Therefore, affordability is a plus for buyers who cannot purchase more expensive works. Additionally, prints are an excellent way for buyers to feel like they own your art. A print, though not the original, can be pretty large. And they are cheaper. Furthermore, it allows hesitant buyers to test the waters, and they can always upgrade when they are more comfortable.
5. Have Transparency in Your Pricing
Being forced to inquire about the price of a piece of art certainly raises a collector’s suspicion. Besides, it often gives the impression you may be changing prices based on who asks, their perceived level of interest, and wealth.
Having your prices available upfront and on your sales platforms shows your honesty. It also helps you avoid many potentially awkward conversations, especially if you hate talking about money. Providing that information upfront puts the onus on the buyer. It gives them time to decide which piece fits their budget before approaching you for a quick transaction.
Always be confident and stand up for yourself and your work, whether you sell frequently or not. Be prepared for the inevitable question of why a piece is so expensive and always be ready with an answer. Believe that your work is valued and your pricing is methodical and fact-based. Also, be sure to pinpoint other people who have made similar purchases. Confidence works wonders and will help you get paid in the end.