I've had several negative comments about my show pricing and I'm beginning to doubt my own judgement? Thankfully, my sales are still strong and I haven't lowered my prices. BUt for my first-time show I decided to have a onetime special price for the pieces. I thought of it as sort of a thank you to loyal customers during the Holiday season. But I have been told that collectors don't like to see an artist lowering prices, even if it's just a onetime event. Has anyone experienced problems with lowering prices? Have collectors given negative comments? I'm considering taking my current show down and restructuring how I present items. Maybe use the show idea just to introduce new designs?
Thanks for posting this as its a very relevent topic in the current climate. I would say go with what feels comfortable with yourself. If I was a loyal collector I'd be thrilled at your 'thank you', I don't think it would undermine your work or prices. As long as you advertise it as a thank you, one off, thanks for a fabulous year, kind of thing, I'm sure it would be OK.
Do you think that by lowering your prices that your customers feel that you are devaluing the pieces that they have already? That is the only way I can understand a comment on lower prices. I know this comparing apples and oranges, but when my neighbor sold their house at a way below market price in order to sell fast, I felt like maybe it was going to devalue the rest of the neighborhood.
I'm not familiar enough with the range of your regular prices to know what the difference is. Was it a LITTLE change or a BIG change? Something along the lines of a $15 shift is a non-event, whereas more of a $150 shift could upset people who paid the higher price recently.
The final decision on prices in a non-auction format are, of course, yours. Do what you're comfortable with. I don't know if recognized phrases like 'customer appreciation sale' would help, or perhaps clearly offering those prices for a LIMITED TIME (like the first 6, 12 or 24 hours of the show?). I think people understand those type of incentives.
I would NOT, however, change your prices in the middle of your show. Leave them where they are until the show ends. If you want to do things differently in the future, then that's the time to change.
Karen lots of people have show specials, I certainly wouldn't worry about it. Sometimes when we do a show we advise our collectors that we will have a few bears at a special show price, this is to encourage them to attend the show and see our bears. I think what you are doing is great and it would encourage people to come to your site and see the show, and maybe someone who has wanted a piece of yours but thought it was out of their reach well it might entice them to purchase it. I can understand how some collectors might be upset , but again they can purchase it at the same lowered price. It's a show special everyone likes getting a special, it's not as though you have permanently lowered your prices.
By the way all the show pieces are spectacular, I really do love your bears.
My instinct would be to offer your regular collectors a loyalty discount voucher to present at the show, rather than reducing show prices generally. Reducing show prices and extending those prices to all purchasers might appear unfair to those who have purchased regularly from you.