In the world of selling and marketing your art, there are obvious tactics and subtle tactics. Obvious are things like marketing plans, and all the tricks and techniques I talk about in my Art Marketing Boot Camp series. But there are also many subtle things that we rarely think of as important in selling art. One such subtlety is the impact a frame has on the sale.
Years ago my wife asked a couple to spend a holiday weekend with us at the lake. When the power went down on Friday afternoon and we realized we’d blown out the breaker box, the husband, an electrician by trade, generously offered to fix it. So we went to the local hardware store to buy the parts.
Pricing is the least understood facet of any business, but it’s one that can easily be fixed — without a negative impact. Most of the artists I know are underselling their art, struggling, having to paint too many paintings to keep their heads above water. They are on an exhausting treadmill because their prices are too low.
Chances are you saw the buzz about the painting called Salvator Mundi (Latin for “Savior of the World”) by Leonardo da Vinci, which was offered recently by Christie’s auction house. The painting was sold to an undisclosed buyer for $450.3 million, the highest price ever paid for a work of art at an auction. Prior to this, Picasso’s Le Femmes D’Alger (Version “O”) held the record at $179 million. Willem de Kooning’s Interchange is known to have been sold privately in September 2015 to Kenneth C. Griffin, a hedge fund manager, who paid about $300 million.
Whatever you do, do it with repetition. Don’t get overly concerned that people have seen it or heard it, because they go through many stages before they are aware enough to buy, and then they need to be in the market at the right time for them.