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A painter in "oils" was selling them for $200-$300. Then he started charging $2000-$3000 for them...

by Joe Mobley
5 replies
I found this to be a valuable business, and life lesson.

swifty • a year ago

A few years ago I learned an interesting business lesson. When I lived out west I knew a few artists who sold their work on a sort of an unofficial, unsponsored circuit of art and crafts fairs. The same core group of artists went from town to town.

A painter who made sort of western landscapes in oil was selling them for around $200-$300. He complained to my friend a metal-sculptor, that he couldn't make living because he could never sell more than 4 or 5 paintings per month.

Then one day he started charging $2000-$3000 just to see what would happen.

Amazingly, he still sold 4 or 5 paintings per month. After the metal-sculptor
and I watched him sell one, we went to ask him about his new business plan. We asked what was different about his new method. The paintings were exactly the same as before.

But he said, "Different people buy them. The people that come looking for a $200 painting walk on by. But the people looking for a $2500 painting stop and look." This idea has stuck with me ever since.

I'm not sure how to apply it to my band unless I start charging $100 for a download.

We think the 1,000 fan theory makes sense. We probably have 20 or 30 true fans and so, still need day jobs. But the number is growing and our goal is to keep writing and releasing new original music. Spotify seems to be a valid model. Thanks for the thoughtful article and follow-ups.
A comment on the blog post, The Technium: 1,000 True Fans

And no... I am not "swifty".


Joe Mobley
#$2$3 #$200$300 #charging #oils #painter #selling #started
  • Profile picture of the author sujit1717
    Really loved it. Thanks Joe for sharing it. These stories gives me more motivation to work on my strategies...
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  • Profile picture of the author Last Donut
    This was a good share! Goes into the 6 rules of persuasion
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  • Profile picture of the author icoachu
    Value is 99.9% PERCEPTION

    Explains everything about the art world and investments in general.
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    • Profile picture of the author BigFrank
      Banned
      I had a life-long friend that had an antique shop in New Hope, PA. She would put new acquisitions on the floor and if they did not sell after 30 days, she would raise the price 10% each month.

      She claimed that it was smartest and most profitable sales strategy. She retired as an extremely wealthy woman.

      Cheers. - Frank
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