When difficult economic times seem to knock down art sales, I wonder why the price of art can't be flexible like the price of housing or gas? I realize that when artists are working with galleries that their retail price needs to stay rigid, so that collectors will pay the same price for an artist's work at any venue for that artist (including the artist's web site). I also understand that if galleries and artists lower their prices, that galleries probably won't be able to pay their rent, electric bills, and for ads - the price of these things never goes down.

With a 50% commission, if the price goes down too much, nobody makes any money with a sale.

But here's my question: If I, an artist who is currently selling through my own efforts, decides to keep my prices low or offer some works at bargain prices (maybe 25% down from regular), is there any reason why I should not do that? Is it ethical? I am not going below my previous gallery prices because my gallery sales took place a few years ago and those I've sold recently via galleries were priced very low as well.

One of my galleries routinely raised prices on artists' work - in this case, it was done ethically. The gallery dealer let the artist know about the higher price and paid the full 50% commission of the final sale to the artist. So... no problem there.  But wait a minute! Now the retail price of that artist's work has gone higher and higher, and it cannot be lowered... ever?  Not even during economic downturns.

Then the boom goes bust, and artwork seems too expensive and just sits on gallery walls. When the housing boom went bust, the price of homes came a tumblin' down, but not so with art prices. So some of these artists, who were doing fairly well in previous years, now can't pay their bills. So what's an artist or gallery dealer to do?

Why can't the price of artwork be flexible - especially in the middle range. If folks know that they can get an artist's work for less during down times, won't it spark a buying trend? Then when more money is flowing later, the artwork will increase in value (yeah, I know I already said that), What about the law of supply and demand?  Demand is down for certain price ranges right now. I've heard from a dozen or so artists who've had successful careers but their sales have dropped off drastically.

However, there ARE artists out there whose pricing is flexible, and they're doing OK. For example: a few artists I've been conversing with who sell on Ebay have not experienced a drop in sales - just a drop in what people are willing to bid, but the number of sales are nearly the same. So those artists are making "some" money, while some I know, who just deal with galleries -- well, sad to say, haven't sold anything in months.

This isn't to say that there aren't plenty of folks out there still buying art right. Some artist have seen an increase in sales. Jeremy Lipking has had a great year! Artists who've made a name for themselves on a national level, don't seem to be affected, but what about the rest of us?

I'd like to hear from some of you - see what your thoughts are on this issue. Don't be shy now...

Lori