The Artist and price per square inch?

                                                                 " Gladiators "

                                                                 by I Tampinco

                                                                    cast marble

The Artist and price per square inch?

I was asked about this subject a few days ago and the person in question was quite upset with me for challenging the, as they put it, “ how we do it here “ and who am I, an intruder to come out against the standard practice in this Art community.

So I will put my view across and if you wish to comment please do so as I will put my personal email address at the end of this piece.

The fantasy.

I am one of those who does not subscribe to fantasy of PSI, price per square inch of a painting by an Artist, no matter what the quality of the painting is like. This is just the hype of the Artpreneurs who have a vested interest in getting the highest price possible, no matter what the quality of the painting is like by a particular Artist.

I do not believe every painting by an Artist is his best.

Artists like all of us have good days and bad days.

Tiger Woods the greatest golfer of all time has bad days.

It is part of being human and Artists are not exempt from this particular human frailty.

I know of a champion sportsman who after he retired wanted to become a dealer in Impressionist art, he bought many pieces by Monet and Renoir believing that any painting with their signature on it would be valuable and they were sold to him priced per square inch. He bought the paintings believing the fantasy to be true and sadly these were not A list paintings and he got stung badly.

Needless to say he is no longer an art dealer.

Why do I continue to bring this PSI, price per square inch subject up yet again?

Because I was challenged about it and told I was wrong and my view was unwanted and uncalled for. So I will again say my thoughts.

I must reiterate, every painting by a great Artist or any Artist is not his best and collectors need to resist this cash grab and begin to say no.

I understand that many practising artists value their paintings by the square inch and I do understand why they do it, my problem with it is that is fine for the good paintings but what about the not so good and the bad paintings?

Are they all of the same quality and value?

Are they all equal?

No, I do not think so?

It is amazing when young artists come along and show their work, they will even say that this is their best work but they feel others are not so good. Very honest in there own assessment of their work, unsure of themselves you may say, but 20years later all their paintings are now of equal quality and all demand to be priced the same at so much per square inch?

What happened to some are very good and some not so?

Why then do so many artists discount their work when asked to by a buyer, if the work is really priced by the square inch and it is all of equal quality and equal value?

I am sometimes left quite perplexed by what happens, the price is set at so much per square inch and the collector then wants a discount and the artist caves in, I thought the price was set? 

I was at an art fair and I started talking to an artist, he did not know me and I asked about his paintings and how he decided on the price and he said by the square inch and I said ok, I then asked for the price of one large painting that I liked and he told me the price, I just said ok and as I stepped back to look at the painting.

He seemed to panic and straight away offered me a big discount before I said another word, I looked at him and asked why he offered a discount when I had said nothing and he said that’s what he always did because he needed the sale?

I asked why then don't you start at the lowest price first and don't move?

He just looked at me and said that’s how Galleries do it and he learned from them?

I said I would not buy his painting as he was so unsure of how much he would sell it for and he was to desperate.

That is why is this PSI is just fantasy?

Well it would be fine if every painting was of the same quality and they are not.

It would be fine if that was a stable price but I know if discount is asked for it will be reduced in price, thereby saying that PSI is not a firm and fast rule but it is the first price before we give discount.

Also auction prices prove that this is a fantasy.

I looked at the paintings sold in the last couple of years in Auctions by a National Artist to see if the selling price achieved by the Artist could be calculated at PSI and I was amazed to see the wide gap between the highest and lowest PSI value, as much as PHP10,000. This does show me that collectors on the whole do distinguish between the good paintings and the not so good paintings by the same artist, they demonstrate this by the prices paid.

I agree that pricing paintings can be very difficult. If you are one of the Art World stars then you may be able to price PSI and get away with because of your popularity and demand, but be careful make sure they are all your best work.

But for the many struggling artists who sells very little, it seems to me that working on PSI is not smart as you most likely will not sell or like the Artist at the art fair you will discount down to get a sale. If you are having trouble selling your work then the price is to high or the work is not good or you have little or no promotion.

  My advice to struggling or young Artists, the goal is to get your work into the homes of collectors not achieve record prices.

Sell, that is the first and foremost goal, get the work out and into homes and as your popularity grows so your prices will begin to climb. I always say I would rather sell for a set price of PHP10,000 than not sell for PHP50,000 and discount down to PHP10,000 to get the sale. Bad business and sets a bad precedent that may be hard to change.

 Giving discounts may be a treadmill that you will have trouble getting off.

I finish by saying that PSI is fantasy and that every painting that an Artist paints is not great, some are anything but great.

I would love to hear your opinion, for or against my view.

My email address is   markshellshear@gmail.com

Keep smiling.

Mark E Shellshear.
Art Consultant.