Friday, June 7, 2019

No longer a mystery: Art and Money


Between memory and story
Mixed media on canvas
100x120cm
© 2018 Megan Chapman
£2,200
“When bankers get together for dinner, they discuss Art. When artists get together for dinner, they discuss Money” ― Oscar Wilde

This week I sent art to two patrons through the post and met one patron for a long lunch and to hand deliver his piece from my online studio sale. I am also waiting to send a patron her piece when it is best for her schedule. I am delighted with these recent sales and thankful as always for my patrons. 

On Tuesday, I recorded my Tuesday Studio Video Visit and talked a wee bit about money and the value of art. You can see it again here. 


This lead me to think more about the art market, and what we have been trained or coached to do as we promote our work and why. One of the big rules used to be (and still is) don't put your prices on your website. Your website should stand as a priceless portfolio. The galleries will decide your prices.

There is so much conflicting advice given when it comes to marketing our art. The value and price of art feels mysterious, and I think perhaps it's meant to be (in an if you know, you know sort of way). If you know me, you know I like to demystify the art process and bring it down to earth (well, the parts that can be brought down - not the mystical bits). 

If I go to a yard/rummage/car boot sale/flea market/department store or any other retailer and the seller has their things set out but with no prices, I might see something I love but I will probably walk on by. I might not feel inquisitive that day - I might think that their items are way out of my price range, and I don't want to feel embarrassed, so I won't ask. I might also think their prices are variable and may change depending on the person asking. I will operate from my assumptions, fears, and limited information and go on my merry way. 

So why were artists coached to keep prices off our websites? The old dangling carrot, if you wanted gallery representation, or to be taken seriously, you just don't do it. So we did what we were told. 

Yesterday, I finally put my prices on my website (after twenty years). At first, it felt like I was doing something wrong or tacky. It was a strange mixture of rebellion and empowerment but more importantly, it felt transparent and honest. I was relieved. 

I also added a payment plan section. It's lovely when a patron knows what they want and knows they can pay for it outright and I am always thankful. I also love working with people who need more time to pay off their art purchases. Now, I state how this works clearly on my website in the contact section. Depending on the price of the piece, you can take up to 3, 6, 12, or 14 months to pay off your painting. 

We budget for clothes, cars, rent, mortgages, utilities, holidays, university costs, and charity. Why not budget for art? Making art a priority in your life and committing to building a collection one payment at a time feels good and knowing that you are supporting a living artist is icing on the cake!

Art doesn't need to be treated like a luxury because I don't think it has to be one. I think art can be a necessity and my desire is to get it to you any way I can. Whether it's a £20 paper piece or sketch from my online studio sale on social media to a £2,200 large work on canvas from my studio, website, or a gallery that represents me, I have you covered.

Thank you. Be well and keep fighting. 

PS. Are you looking for an art mentor? Work with me!

2 comments:

  1. This is FAB. In convos I've had with other artists it seems that most struggle with money but it is the art world's guilty little secret. I have spent ages beating myself up about this - but as you say "We budget for clothes, cars, rent, mortgages, utilities, holidays, university costs, and charity. Why not budget for art?". We shouldn't be squeamish or feel it will spoil the 'magic'. You've kicked me up the arse to open a shop on my website again once I'm back from travelling about. Thank you Megan xx

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    1. Thank you, Elaine! What an affirming comment. Always happy to give a kick, especially as I'm kicking myself. Let's take care of business! xox

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