Discounting Your Artwork is Losing You Money: Here's Why

Every artist has experienced the sense of panic when you haven’t sold any art in a while, you’re running out of space in your studio, and you’re in need of some extra cash. When you find yourself in these situations, discounting your art might sound like a good idea so you can get some movement happening in the studio. We’re here to tell you that’s NOT the best solution for you!

Even though it seems like a win-win, discounting your original artwork actually won’t help you make dependable income in the long run (and it will probably lose you money, too). In order to create a sustainable, profitable art business, you need to identify your ideal collectors and sell to the people who are willing and eager to pay full price for your art- because they see the value in it!

Here are our top 3 reasons you shouldn’t discount your artwork: 

1. Discounts undervalue your work. 

Right off the top let’s agree that your art is valuable and it deserves to be priced appropriately! When you discount your work, you’re telling yourself AND your collectors that you don’t think it’s worth the price you set it at. That’s not the message you want to be sharing with the world!

2. Your collectors will become accustomed to discount prices. 

So because you’re constantly running a sale, your collectors will begin to expect that from you. They won’t pay full price for your art and will wait until you lower the price before they purchase. This is where you’ll end up losing money in the long run. Even if a collector would pay full price for a piece, you’ve trained them to expect a sale at some point, therefore they’ll wait to purchase. 

3. You could be attracting the wrong type of buyers.

Now that you’re in a cycle of releasing and then discounting your original art, you end up attracting the wrong type of buyers for your artwork. These are the people who don’t value original art and won’t pay full price for it. Instead you want to be attracting your ideal collectors, those who appreciate artwork and are willing to pay full-price for it!

So while it may sound good in the short-run, it’s better for the long-term growth of your business if you don’t run sales or discount your artwork. If you’re looking for a better way to sell your artwork online, check out our free Masterclass, The 4 Steps to Reaching Your Ideal Collectors Online!