The Art
Of Haggling
Should
You Negotiate Price When
Exhibiting Your Art?
© by Carl
(CAKUart); all rights reserved
Haggling is
an activity that has been around since man invented currency. So
don't think just because you are an artist that negotiating
price is something you won't need to consider… because you
should be prepared for the folk who will want to barter on the
price of your art.
Once upon a
time there wasn't a fixed price on items sold… it was expected
that some level of negotiation was going to take place to
complete the sale.
I personally
like the haggling process with my customers… so long as it is
within reason. And by that I don't necessarily refer to
price…but the buyers actual INTENTION.
I have
experienced buyers haggling with me over the price of a painting
only to see them walk away because it turned out they were never
really serious about buying my painting to begin with. I have
learned from these experiences.
As a result,
I make a note of quizzing the buyer with some simple questions
that will give me some clues about their true intention.
Additionally,
by doing this it helps to reduce any fears either party may
have, and opens the gates of communication - which is really
important when it comes to a healthy friendly negotiation.
It generally
goes something like this…
Buyer:
"Are you prepared to negotiate on price?"
Me:
"Yes
I am always prepared to negotiate – what painting has grabbed
your interest?"
I do not
mention that I have any conditions associated to haggling, even though I do. I am open to negotiation,
because quite often the idea of negotiating on a piece of my
artwork draws the potential buyers interest further into the
painting. So what I
do is simply reply; yes, I am open to negotiation to get a
conversation going.
Much More
Than A Haggling Tactic
When the
buyer has informed me of his or her choice… I quickly get in a
few questions and also try to add more perceived value to the
painting they are interested in BEFORE they have any opportunity
of throwing prices at me.
I don't hype,
pitch or exaggerate… I simply try to provide as much
information about the piece as I can so the buyer will attach
more value to it (this helps me when it comes to negotiating).
The types of
questions I like to ask help to develop ownership in their mind:
"Are
you considering this painting for your home or office?"
I get them to
give me a definite answer, rather than asking a question that
will result in a yes or no. This helps to bring them closer to
the painting. Answering yes of no does not allow them to really
contribute anything. I want them to be apart of the
conversation.
Then
I'll ask:
"Ah…
fantastic… and what room in your home did you have in mind
for this painting?"
Once again,
not allowing the yes or no answer… bringing them further in as
they begin mentally visualising the painting somewhere in the
home, therefore claiming ownership of the piece of art in
question.
I have
discovered; that a lot of the time, but not all of the time, a
buyer has already mapped out in his or her mind where the
painting would look good in their home or office before they
even approach me.
By asking
these types of questions, the pretend buyer will often hesitate
or come across as unconvincing in their replies... because they
have not really envisioned owning it. As a result,
they will quickly start backtracking and start looking to bid
you farewell. Good for you; no time wasted, no money lost.
There's a
Bit More To It Than Just Knowing
How To Negotiate Price
If you feel
the buyer has answered your questions honestly and convincingly,
then what I do is ask:
"What
is it about this painting that you like? What do you see in
this painting that inspires you? "
This is a
powerful question because now the buyer has to begin revealing
the emotions and thoughts they have attached to your piece of
artwork. They have to commit with proper answers and not just
"yes or
no" replies.
This brings them even closer to the painting and
essentially increases that feeling of ownership.
Is this
dishonest haggling? Is this tricky? Is this deceiving the
potential buyer?
No…not
at all because all you are doing is getting them
to openly assess if this is a piece of art they would truly like
to own.
Additionally,
you are adding value to the work by simply getting the potential
buyer to get in touch with the feelings and thoughts they have
associated to your piece of artwork.
It's not
selling… it's letting the buyer sell themselves. All you are
doing is asking questions.
Another thing
I ask is where they live.
Knowing
where the buyer lives can potentially give me
more to work with when it comes to the negotiation process. For
example, as part of my haggling agreement I will either throw in
free shipping or I'll offer to deliver it personally if they
live locally.
The home
delivery option is great, because it often leads to the owner
showing you another room in the house and asking, "Do you
think you could produce something for this room?"
Haggling
Tips cont...
Haggling does
not necessarily mean you have to drop your price. It can mean
providing more than they expected for the price of the painting.
Adding value…real value will quite often give you and the
buyer a feeling that he or she received a great deal.
Additionally,
once I have assessed that the potential buyer really does like
the painting and wants to negotiate a price, I quickly mention
any feedback I may have received from other people regarding the
painting.
People love
social proof. If a buyer hears legitimate positive feedback
expressed from the opinions of others, it adds to the
justification of why they want the painting just that little bit
more.
Now don't get
me wrong… people are not that naïve that they buy my work
based on its popularity or the comments made by others. They buy
because they genuinely love the painting.
But… by
throwing other peoples opinions of the painting onto the
negotiation table, it helps you; the seller, just that little
bit more in terms of reaching a sale with a win/win scenario.
Another
component I will try to throw in before the
conversation leads to prices, is how I went about producing the
work, what inspired me to paint it and the amount of pleasure I
experienced with painting it.
So you can
see by now I have essentially added a lot more value to my
painting in the eyes of the potential buyer. Previously it was
just another painting hanging a wall as far as the buyer was
concerned.
But now he or she knows the painting has a story, it
comes with free shipping (and/or delivery), a certificate of
authenticity, he or she has a clear cut vision of where they
want to hang it…plus they heard all those great things other
people have been saying
about the painting.
It's looking
quite good on my side of the negotiating table. But if you think
about it, it’s looking just as good as far as the buyer is
concerned too.
Here are some
tips to remember so you'll be prepared for haggling when
exhibiting your work:
-
Always
try to assess the buyer's objectives and motivation for
buying outside of the typical, "I like this
painting" comments.
-
You
need to know where your "Stop" marker will be set with each painting in terms what your lowest price is
going to be.
-
Ask
questions first (especially ones that will create emotional
responses) because then you'll be working from your own
agenda when it comes to the whole negotiating process and
not working from the buyers intention.
-
Offer
those little extras that literally cost you nothing yet seem
so valuable to the buyer.
-
Don't
begin by talking about yourself or the painting. Talk to and
about the buyer.
-
Be
prepared for negotiation. If you are prepared then you have
done most of the work already in regards to negotiating.
-
Use social proof – if you have legitimate comments made by
others about your art then promote it modestly to your
potential buyer.
-
If
you feel your buyer is being unreasonable about the whole
negotiating process, do not negotiate at all.
-
With
each question you ask, do not speak a word until you receive
an answer. The silence will force them to commit to an
answer, therefore leading them to contribute to the
conversation and essentially selling themselves on your
artwork.
There is no
need to fret because not everyone wants to negotiate. But being
prepared for it gives you a sense of confidence.
Also, if you
are prepared to negotiate on the price of your art, it opens you
up to a broader spectrum of buyers. Just know where your
breaking point is, try to set the agenda from the get go and
focus on creating a win/win result.
Most
of all have fun when it comes to haggling.
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