a lil comic I made a while back to illustrate this point:
As an artist, i hear this almost every day.
Now, I usually ignore whoever says it, but when I do respond, I put things in perspective for that person in this way:
1.) Art is a Luxury Good.
Art isn’t a need like groceries. Art is more like spending a big chunk of your last paycheck on a fancy dinner. (They do call it the culinary arts for a reason).
We’ll use a “fancy dinner” as our good, and pretend that you’re the small fancy restaurant to explain everything here.
2.) Pricing is determined by Supply and Demand.
If you’re not familiar with the basics of economics, the law of supply and demand is the concept that pricing for a good is determined by how much of it is available and how badly people want it. The higher the price, the less people want it, and vice versa.
However, there’s a sweet-spot where the amount of “fancy dinners” your restaurant is able to produce is exactly equal to the number of customers who are able to afford - or willing to pay - for that dinner.
3.) More customers =/= more income
Based on #2, this kind of pricing means that yes, there are several people who cannot afford to eat here, and therefore choose to eat elsewhere.
You’re losing customers! Isn’t that bad? Well, no. As a small restaurant, you can only make so many dinners and seat so many people at a time. As long as your tables are full, it doesn’t really matter if some people check the prices on the menu and go somewhere less expensive.
4.) You… shouldn’t lower your prices?!
If you see an artist that does commissions or sales for a living (or any small sole proprietorship, really) and you see them posting work with any frequency, it’s probably safe to assume that, whatever their prices are, people are buying.
Telling an artist who is enjoying success at the price point that they’ve set that they should lower their prices only does two things:
Makes the artist feel bad & tells them you don’t value their work
Makes it clear to the artist that you’re a customer outside their price range & that they shouldn’t work with you if they value themselves.
You CAN lower your prices, and you COULD, but why would you? Your little restaurant is full of happy customers that gladly (and generously) gave some of their hard earned money to enjoy your talents, efforts, and services.
The guy at the hostess stand, flipping his shit at the girl who would normally be seating them about how the restaurant prices are “too damn high” should simply be asked to leave, (or better yet, ignored) and your restaurant will continue to enjoy a successful run of satisfied customers.
Should you ever lower your prices? Well yeah, if you’re not selling anything or nobody’s buying what your’e putting out there, that means that the prices are too high for whatever it is you’re selling. If you’ve got a steady string of customers (not one or two repeat high rollers) then you have no reason to alter your pricing, and if you have more customers than you have seats (or commission slots available) you should actually consider raising your prices.
Happy selling, and please remember to be polite when explaining this to people! Some people just REALLY don’t get it… you’re always welcome to link them to this if you don’t want to explain it yourself.”
…so yup! That about sums it up for me.