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What does the wholesale formula cost11/12/2022 ![]() ![]() This is the winning bid for an artwork - payable by those who buy at auction. A reserve price is not always disclosed to the marketplace. Art for sale which does not reach the reserve price is usually with drawn from sale - whether the sale is on eBay or at Sotheby's. This is a term used by auctioneers (or artists) for a price below which they will not sell. That then gives them some wiggle room around mark-up and discount on mark-up for retail purposes. In other words when you agree a gallery can sell your work, agree what you expect as an artist to be paid for the work. The consignment price is the price you agree with a gallery below which they will not go. Do not offer discounts to people who have never bought your work before.Ī consignment is a batch of artwork you ask a gallery to sell on your behalf. You'd better be ready with an answer for when they ask. That's not the same as your list price as the person who is going to retail might have a much better idea than you as to how much an item will sell for.Ī regular collector might well expect to be given a discount because they are now buying in volume - but over time. Typically the wholesale price is around 50% of what the item will retail for. They will expect a discount for buying in bulk. This is the price you get when you sell to an art dealer who buys volume. This might vary depending on where you are selling your art. If you want to sell and somebody wants to buy and you met up and haggled, this is the price at which you would both be agreeable is a fair price and the one you would sell your art for in a given market. The retailer may end up having to discount this price to sell the art. It's not the same as the price it actually sells for. This is the starting point when an item is to be sold via a retail outlet. This is the display price and the price that the public sees. ![]() It's just a price and has nothing to do with value - remember the purchaser determines that by either buying or leaving it unsold. ![]() This is the price which you would like to sell your artwork. This is your version of the "manufacturers recommended price". It includes all direct costs, an element for your labour and a proportion of your overheads. This is because this is how much the work cost you to make. This is the artist's base price below you will not go in principle. Below you find out what the terms relating to each type of price actually mean. Find out the meaning of business terminology. ![]()
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