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Lowering Prices
For all intents and purposes, I have heard a million times--DO NOT LOWER YOUR PRICES after you have raised them. But I am considering doing just that for three reasons:
1) I have taken a year off painting due to major medical emergencies with my daughter
2) I am no longer paying for advertising (therefore my overheads are down)
3) I no longer have a backlog of clients for wiggle room when cheaper clients refuse the higher prices.
Would it be fair (or necessary) to contact all the clients who paid more and offer some sort of equivalent credit toward a future art purchase? I thought it'd be a good way to establish--at a minimum--a sense of integrity. But I'm not sure if it's necessary and may result in doing several paintings for 30-50 cents on the dollar.
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