Wednesday, November 7, 2012

How to use Scarcity to increase Your Art Sales


It’s a known fact: we want what we can’t have. We also want what is rare, hard to find or acquire, and unique. When something is a dime a dozen down at the corner store and everyone who wants one can have it, it becomes less valuable in our eyes. It’s a tried-and-true principle that has been used over and over again in sales, and you can use it, too.

So how can you use scarcity to increase our art sales? By finding creative ways of making your art just a little bit more special, and maybe even just a little bit more difficult to acquire. You don’t want to overdo it – you still want your art to be accessible to people. However, just the right mixture of availability and scarcity can boost your sales.

Don’t:
  • Price your art so high that nobody but the wealthy can afford it (unless of course you are already famous and your paintings are selling like hot cakes.)
  • Price your art too low so that the value is lost.

Do:
  • Make different options available at different price points. Original fine art should have a higher price tag based on how much time and talent went into it. Offer high quality giclĂ©es and prints of your work at various sizes and prices so that people who don’t have as much money can still purchase your work and enjoy it.
  • Sell only a limited number of each print – and make sure that you number and sign each one on the back. If only a certain number is printed, it creates scarcity and brings the value of your work up. You don’t have to raise the prices because they are limited edition – they are simply more likely to sell.
  • Create a certificate of authenticity for each original and print, and include one every time something is purchased. Little details like this will bring up the value of your work, and will also help the buyer realize exactly what he is purchasing.
  • Offer a few VERY limited edition prints – say, only five prints total. Sell them at a higher price point.

How you create scarcity will vary depending on your art. Each artist is different and might have other options or ways of using this principle to boost your art sales. Brainstorm with a friend on ways that you can make your work a little more rare or special. You might just come up with a brilliant idea that spawns a dozen new successes!

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