Price vs. buyers.
Sure, it is true that if your price is high it is most likely that only the most affluent can afford it. But $2000 is not what I consider a high price. People of average income buy $2000 computers and $2000 entertainment centers with big screen TVs. People of average income will pay $2000 for solid surface countertops in their kitchen or $2000 for a spa out on their deck. Or pay over $2000 to buy the loaded option package on their new car over the base price model. Why? Because they are convinced that what they spend this $2000 on will give them enjoyment., or because the marketing of these consumer products has convinced them that they are worth the price.
It is not about the price. It is about educating them that a quality portrait is worth their hard earned money and that they are spending it on something that will give them and their descendents years of enjoyment. These things that I mentioned above are consumer items that no one needs and many need to be replaced in less than 10 years or in the case of the countertops will stay only until the next owner of the house wants to remodel. A portrait will be around for 100 years or more.
If your prices are in the $20,000-$30,000 range then, yes, the average income person is not likely to hire you. But at the same time you are not an average artist if your paintings sell at that price.
In my opinion, $2000 is a bargain if your work is of professional quality but you are just starting out. Buyers are getting a great deal buying your work at that price. If you truly are good your prices will not stay that low for long. Nothing gets people to buy today like a good deal that may not be available tomorrow. That is why stores have sales. Buy it today and save 20%.
The consumer who does not have the money today buys it on the store revolving credit card and pays an additional 25% by the time they pay it off. Now if a store has convinced consumers to make this stupid move why can't we convince them on making a truly good investment in quality fine art.
A person with no disposable income at all who is living on a low income or even those of average income but have been living beyond their means for so long that they are spending all their income on consumer debt and interest payments are not in the market for a painting or anything beyond what they need to survive. So, yes, you want to market your work to those who appreciate it for what it is and have enough disposable income to buy it.
Believe me, there are plenty of people with enough money to spend $2000 on something that they do not need to survive but merely want. The problem is that many people don't see art for what it is. It is they who think that Art is for the wealthy alone.
I have visited homes in trailer parks that had $4000 large screen TVs in them. You just need to find people who appreciate your work. They need not be Bill Gates or the Ex-CEO of Enron. Lowering your prices is not going to make them appreciate it any more, no matter what your price.
Many times I think it is not because the wealthy have more money that they buy more art. I feel it is because a person of higher income or those born into a wealthy family has a greater chance of having a higher education and of having had more exposure to art. They know its value and the enjoyment it can bring so they are more likely to spend their money on fine art.
At the same time even those who have for some reason acquired great wealth but have not had the exposure to the arts are more likely to spend their money on other consumer items before art, even though they now have plenty of money.
My advice is worry about delivering quality work and price it based on its quality. There will always be people willing to pay for quality. Then market your work people who appreciate art and who will buy it.
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