Pricing Your Art
There are no easy rules for pricing your art. Most people, however, would recommend basing your price on the demand. If there is a lot of competition from other artists and not much demand, lower your price. If you can’t create your art fast enough to meet the demand, raise the price.
Selling Your Art
Most artists in Nunavut sell their art to wholesalers like the Co-Op or the Northern, but you can sell your art to your customers directly if you prefer. There are a lot of different ways to approach it and there are advantages to each method.
Selling to a Wholesaler
Here’s what happens to your art when you sell it to a wholesaler like the Co-Op or the Northern:
1. You sell your art to a wholesaler. You are paid a wholesale price.
2. The wholesaler sells your art to a gallery or a store. They are paid a higher second wholesale price.
3. Galleries and stores sell your art at the retail price to the customer.
The advantage to this approach is that it’s easier to develop a relationship with a local wholesaler than a gallery or store outside of your community. If the wholesaler buys your art regularly, you can count on regular income from your art.
The disadvantage is that, for each piece sold, you make less money than you would selling your art more directly. The more levels there are between you and your customer, the less money you make.
There are alternatives. You can also sell your art to:
• Private wholesalers
• Galleries or stores
• People in your community
The more directly you sell your art to your customer, the more money you’ll make on each artwork sold. This approach can take a bit more work, but it just might make you more profit.
If you are going to sell to a gallery or another company in the south directly, keep the following in mind:
• When you sell to the south, you pay shipping and handling.
• It takes time to develop a relationship with a gallery.
• Don’t cut yourself off from your old markets.