This article will discuss why does abstract art sell for so much.

It is true that abstract art is more than just a superficial painting; it is a theme or idea that affects us on a deep level, like we saw in my previous article.

On the surface, one could conclude that the only reason someone would go to a gallery to see a painting is to collect it. But why is it that certain art works resonate with people, and why do they end up being more valuable than others?

If you look at art as a business, there are three elements to consider: price, demand, and supply. 

Price

Price is the current amount someone is willing to pay for your art; it is the sum of everything you are asking for. So, if you price it too high, it will be unprofitable for you to do business. On the other hand, if you price it too low, you will not reach your market.

So, you can either price it high, which I always advise, or low. The latter could mean selling to just a handful of people.

This depends largely on what you sell, however, as an example, if you have an acrylic painting, it is more profitable to sell it for $5,000 than to sell it for $2,500. If you do sell for $2,500, then you will have to sell 10-20 pieces to make back your investment.

Demand

Demand is the number of people in your market who will buy your art.

Supply

It is the number of pieces of your art that you have available to sell. Supply is how many of the art works you have to sell, while demand is the number of people who are willing to pay for those art works.

So, the amount of supply that you have is largely dependent on what your price is. If your price is high, you will have to sell a lot of your art to meet your demand. Conversely, if your price is low, then you will not sell a lot of your art to meet your demand.

So, if you can meet your demand, then you are well-placed to sell your art.

The obvious caveat to this whole analysis is that you need to make your art in a way that it appeals to the majority of people in your market. For example, if your painting is a large canvas, then it might be easier to reach your market that way.

If it is in smaller form, then it might not appeal to that majority.

However, one thing that can make a difference in your ability to sell is your reputation. People generally seek out art that has been vetted by other artists. This is because art that comes from a reputable source is likely to be more valuable.

So, if you are a well-known artist, people are more likely to trust your judgment on art than they are to trust anyone else’s.

In other words, if you paint abstract art, people are more likely to buy it because it is a recognized form of art, and people are already familiar with it.

However, if you paint on canvas, people may be more willing to buy your art because they do not know what they are getting. So, it is the reputation that you have, rather than the one that you have a website or online presence, that will get your art noticed and sold.

Demand and supply are not the only factors that determine how well your art sells. Obviously, if you have a shortage of art, you will have a hard time selling it to anyone. So, you have to balance the factors above against each other in a delicate balance in order to sell your art.

What I often tell clients is that, if they want to make more money selling their art, they have to increase their demand for it. So, they need to spend more time talking about it, or publicizing it in some way.

However, there is one caveat to this; you cannot price your art too low in order to increase demand. For example, if you want to sell $100,000 worth of your art, then you cannot sell your art for less than $25,000.

If your artwork is a large canvas, then you can expect to sell for a lot more than that. So, you need to sell your art in a way that meets a good price that people are willing to pay.

Final thoughts

The Art of Marketing Your Art is an excellent book for artists who are looking to make more money selling their art. If you have been painting for a while, then I would highly recommend buying it.

The other things that Steven mentions in the book are also great resources. I highly recommend them both.

Want more marketing? Here are some other ideas to help you sell more art:

When it comes to art marketing, always work in the arts first.

A lot of marketers think that they need to do marketing in other areas before they start marketing art. However, that is a mistake. All marketing must start with your art. You can never run a business without a market.

This does not mean that you cannot run your business in any other areas. You can use Facebook ads, or make YouTube videos. But it is essential to start with your art. This is the one thing that you can control.

It will drive traffic to your website and help you create a great brand image for your artwork. So, never ever neglect it.

Why art marketing is like marketing your small business:

It is no surprise that art marketing is very similar to any other form of marketing. For example, there are three main components of a business: people, place, and product. Similarly, there are three major components of a business: people, place, and product.

Art marketing, then, is very similar to marketing for your other businesses. Your people must be dedicated and loyal to you, you need to give them a great product to sell, and you need to have a place where your products can be sold.

On top of that, you need a great product to sell to your customers. Of course, the good news is that there are many ways to achieve this.

If you use only one marketing tactic, then you can expect your art to be only just as successful as it would have been if you had done no marketing at all. So, it is better to have a variety of marketing tactics. This will allow you to adapt to the changing markets.

Marketing for your art is like marketing your art for your other businesses. Both markets are driven by demand and supply. Thus, you can make more money selling art than you can with a simple print shop.

So, if you are looking to sell your art, then you need to make it a priority. You cannot neglect it for any length of time. However, this does not mean that you cannot do anything with your art to make it more marketable.