Please comment. We are reviewing the pricing on Studio Art before we send out a West Coast press release to all major medias. This press release announces: Studio Art Direct Brings Affordable High Quality Artwork created by Pacific Northwest Artists to a Mass Audience PORTLAND OR–(BUSINESS WIRE)–July 21, 2006:— Original paintings, sculpture, photography, and limited reproductions by Artists from the Pacific Northwest will be available nationwide through www.studioartdirect.com
This release will substantially increase the hits on the site by the general public So, before we send this out, we want to be sure that the site is the best it can be. This brings me to pricing.
Currently, we have a tremendous variety of pricing because prices were established by artists, which I think is fine. Our mark up is standard 100% or a 50/50 split with you (artists). Our original thought was that we did not want to undercut the regional art market so we kept pricing at 100%, but we did want to provide designers with a 20% discount (which means the split would be 70(artist)/30(studio art)). However, we have received some feedback stating that the general public would like this distributor pricing as well. This would mean that we would make the split 65(artist)/35(studioart) standard on all art. Thus reducing the cost of art on the site overall. Again, you, as an artist, would receive your wholesale price and would not be affected. Studio Art would be taking the hit. My question is this:
1) What do you think about reducing the overall price of the art? Do you think it undercuts the regional art market or your reputation?
2) If we were to reduce the cost (and sit down for this one), what do you think about showing the regular price, and OUR price. In otherwords, the new price would show in red and look like a sale price. I know that traditionally this is never done in the art world, but I am wanting your thoughts about it. People like to see the savings that they are getting, this is away to do it. But again this approach is VERY out of the box for the art world. What do you think?
It is important that Studio Art is seen as a high quality art resource, and I do not want the focus to be on price. Our mission is not huge profits, it is promoting and selling more Pacific Northwest art to business, and now residential clients. Do you think lowering the price undermines the perception of quality?
I hope that you will take the time to give me some feedback. I feel that you are part of the team and the business, and would appreciate your thoughts.
President, Studio Art Direct