Showing posts with label pricing. Show all posts
Showing posts with label pricing. Show all posts

Monday, December 01, 2025

Review: Royal Institute of Oil Painters Annual Exhibition 2025

There's a new look to the Annual Exhibition of the ROI  - which is an annual exhibition that features a variety of oil paintings by both established and emerging artists, the majority of whom are members of the Royal Institute of Oil Painters.

The theme of this year's ROI Exhibition is "Home"

I visited last Wednesday for the PV and Awards Ceremony and then again on Saturday afternoon to finish my photographs and it gradually dawned on me that it felt and looked different - and then slowly I realised why that might be.

The Demographic Change

It took a while to work it out - and then I realised, almost all the "old guard" who I've been seeing in the Annual Exhibitions for the last 20 years have almost all gone

Of those still alive, relatively few are still painting and exhibiting. 

It feels like the overall demographic of ROI members has really changed - so there are now many more younger artists and many more female artists.

  • Older members have been replaced 
  • by much younger artists who have done their bit as open artists and 
  • who have now progressed to becoming members and 
  • in turn, some of them are now officers of the ROI in their middle age. 
I'm now older than most of the people running the show - which feels very different for me too!

I remember well walking around the ROI annual exhibition in 2010 with Adebanji Alade PROI while we discussed how we could make even more of an impression than he was already and become a member!

Last Wednesday, I saw him deliver the most electrifying tub thumping awards ceremony I've seen in years - as President of the ROI. It feels like maybe the engine room has had an overhaul and there's a new drive to reinforce and develop the ROI. 

While on the wall next to the cafe, very sadly, there's a record of a number of the stalwart member exhibitors of the past who have died in the last year. The last year we lost so many in one year was 2022. These included:

  • Fred Beckett FROI (1933-2025) who was an ex President of the ROI and the Wapping Group; 
  • John McCombs ROI (1943-2025) who never grew tired of painting the Pennine village of Delph and 
  • Brian Ryder (1944-2025) -  whose landscapes I always looked forward to seeing and who never ever had a painting rejected by the ROI.  I found these "bon mots" on his website - which I'm sure some of you will value
  1. Art is not what we see but what you can make others see.
  2. Only when he no longer knows what he is doing does the painter do good things.
  3. A painting requires a little mystery, some vagueness, and some fantasy. When you always make your meaning plain you end up boring people.
  4. Painting is easy when you don’t know how, but very difficult when you do.”
So it felt a bit like you do on New Year's Eve - it's goodbye to the old guard and hello to all the new much younger painters hoping to become members as well as those who have been around a few years and are now running the show!

Interestingly most of those new artists are ones I first came across online. 

 It was good to see that Greg Mason has now become a member and taken over the role of looking after the website and social media  (PS You may remember Greg from Landscape Artist of the Year - when he abandoned the chosen view and still made it to the Final! (His blog post / My Blog post. For the unitiated, I have a memory like an elephant and an archive which services it well!!)

This is his video tour of the exhibition

Monday, April 14, 2025

Beyond The Prize

Beyond The Prize is a NEW and different sort of contemporary figurative art exhibition. It's all about 160 new artwork produced by over one hundred recent award-winning artists artists - and it opens at the Mall Galleries on Wednesday 16th April.

Bringing together the best emerging and established artists from art societies across the UK, the exhibition celebrates the impact of prizes and awards on their work, and their work on the world.

  • The aim of the exhibition is to provide them with a showcase for their new works and to highlight figurative art as a thriving, contemporary art form. 
  • The artists and artwork have been guest curated by Tabish Khan - an art critic who specialises in London's art scene. He is the visual arts editor for Londonist, a trustee of ArtCan, (a non-profit arts organisation that supports artists through profile raising activities and exhibitions), Discerning Eye, and is a member of The Critics’ Circle.

The exhibition is presented by the Federation of British Artists, a collective of leading art societies based at Mall Galleries. It is through the exhibitions and initiatives of the Federation - led by artists, for all - that more than £100,000 worth of prizes and awards, bursaries, residencies and scholarships are awarded to artists annually. Featured in this exhibition are many of these winners, plus award-winning artists from the Royal West of England Academy, Royal Scottish Academy, Royal Ulster Academy of Arts, and Wales Contemporary.
The artwork is already available to see - and buy - online

The exhibition is accompanied by an online series, featuring interviews with many of the exhibitors about their journey to the prize and beyond.  This includes their responses to the question:
"What impact do you think art has on the world, now, and in the future?"
There are also a number of events - listed after the details of the exhibition below.

The Artists in the Exhibition

The exhibition includes both emerging and established artists. Exhibitors are 
  • award-winning artists from the annual open exhibitions of the art societies within the Federation of British Artists in 2023 and 2024, 
  • plus winners of the gallery’s bursaries, residencies and scholarships over the same period.
  • plus award-winning artists from the Royal West of England Academy, Royal Scottish Academy, Royal Ulster Academy of Arts, and Wales Contemporary.
If this exhibition continues beyond this year, it provides an enormous incentive for:
  • artists to submit great artwork to FBA Exhibitions with a view to winning a prize
  • a high standard of judging in relation to who wins prizes.
You can see the names of the artists in the online exhibition

However, very oddly, none of the listings provide any reference to the prize they won. Which I thought was the whole point of the show - to demonstrate that these are prizewinners!

I did ask the Mall Galleries for a copy of the list of the artists - but got an email back from the consultant who is doing their publicity saying she doesn't monitor her email account!!!

I think there are a few aspects which could be improved if this exhibition were to run again!

Artworks in the Exhibition  

There are 160 new artworks in the exhibition. 

Media

  • 75 - oil or acrylic
  • 26 - waterbased media (watercolour, gouache, pen and ink)
  • 25 - mixed media
  • 24 - dry media (pastel, charcoal, graphite)
  • 6 - scultures
  • 4 - prints

Subject matter

I'll be interested to see how these fare in the selling stakes as I know which category tends to generate the most sales - and it isn't Portrait and Figures.
  • 61 - Portrait and Figure 
  • 39 - Landscape and Cityscape
  • 23 - Still life and Interiors
  • 16 - Wildlife and Animals
  • 11 - "Other" - including "Freemotion embroidery on painted silk"
  • 1 - Abstract

Pricing

It's worth commenting on the pricing in advance. There are four approaches to pricing by different groups of artists who I would characterise as follows
  • artists who are not willing to compromise their prices and choose to make them not for sale. The exhibition represents a marketing opportunity for commissions.
  • artists who have stuck to their normal price range for size and media
  • artists have have been optimistic as to who this exhibition might be marketed to, one way and another - who might have got rather ambitious / overly optimistic in their pricing and will very probably be disappointed
  • artists who have read my blog posts on pricing for exhibitions at the Mall Galleries.

How to see the Beyond the Prize Exhibition

Wednesday, April 02, 2025

RBA Annual Exhibition 2025 METRICS: Analysis of art sales & Recommendations about pricing

This is an analysis of the art sales at the recent Annual Exhibition 2025 of the Royal Society of British Artists. 

It contains a number of charts and tables which attempt to explain what can be learned by both members and open artists about sales compared to artwork hung.

The charts and tables include

  • CHART 1: an analysis and comparison of the number of artworks sold by type of artist and price range
  • CHART 2: a comparison of the number and percentage of artworks sold with the total hung hung - according to the Mall Galleries Price Ranges
  • TABLE 1: an analysis of the distribution of artwork by media (numbers hung and sold) - and then ranked according to the percentage of sales for different media
  • TABLE 2: An analysis is subject matter by media used

Looking at numbers in isolation does not however tell the whole story. It's only when we look at comparative data in previous years that the very obvious and very significant finding stands out.

This was a much bigger exhibition with much fewer sales when compared to previous years.  There were 554 artworks hung in the show split between:

  • 275 artworks by members
  • 279 artworks by open entry artists

This was my review of the exhibition - Review: Royal Society of British Artists Annual Exhibition 2025 in which I commented

The artwork selected comes from 3,843 submitted images. To give you a sense of what that represents it's bigger than the entry for some major art competitions.
Mostly it was good work, although it certainly included artwork I personally would have edited out at the selection stage.

You can see a much bigger version of the chart below on this post on my Facebook Page . Just click it to see the big version

Or get a magnifying glass out!

CHART 1: An analysis of the number of artworks sold
at RBA Annual Exhibition 2025
by type of artist (member or open) and the price range

The main findings of this chart are as follows
  • A total of 63 artworks sold (just 11% of the artwork hung) which is VERY LOW 
  • SEE SOLD ARTWORK HERE
  • Previous sales figures for this exhibition 
    • 2023:  97 sold (20% of the exhibition) - overall volume of sales was excellent
    • 2024: however this year's exhibition is marginally better than the 52 sold from 491 hung (10%) last year - but only just (11%!!)
  • in general the trend is the MORE artwork exhibited, the FEWER sales are achieved

Friday, January 03, 2025

Royal Watercolour Society - FINAL CALL for RWS OPEN

You have until midday on Monday 6th of January 2025 to submit an entry to the RWS Open 2025.

This post covers:

  • what is the RWS Open?
  • why enter the RWS Open?
  • how to enter


What is the RWS Open?

The RWS Open is run by the Royal Watercolour Society (RWS). 
It was formerly known (until recently) as the Contemporary Watercolour Competition.

The RWS chooses to invite open entries for an exhibition at the Bankside Gallery via a SEPARATE open competition rather than, as most art societies do, via an annual open exhibition dominated by artwork by members.

The RWS has FINALLY stopped calling it the "the largest open-submission water-media exhibition in the world". I'm guessing that's because I kept calling them out on this - EVERY SINGLE YEAR - because it simply isn't. My last comment on the topic being.....
I think the RWS would be well advised to read and study carefully The UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code) which is the rule book for non-broadcast advertisements, sales promotions and direct marketing communications (marketing communications).
FACT: In the UK, the annual exhibition of the Royal Institute of Painters in Watercolours selects and exhibits far more artists via the open entry to its Annual Exhibition which is way, way bigger than anything held at the Bankside Gallery. It's such a very silly idea to boast about something which it is so easy to disprove.
Around half of the 465 artworks on display in their 2024 (RI) Exhibition ....are by non-members.
Whereas, the RWS Open in 2024 exhibited 144 paintings in total - although it never ever quotes numbers for the actual entries received and the actual number hung. Nothing like numbers to bring some reality to the situation!

Instead this year, the RWS are now saying (my underlining)
the RWS Open is one of the largest open-submission water-media exhibitions in the world, attracting thousands of submissions nationally and internationally each year.
Which is fine. So I'll now stop sniping on this topic and reserve my comments for the calibre of the artwork they select instead. 

See my Review of the RWS Open 2024 for extensive comments on the quality of the artwork.
Frankly, speaking in my best "Emperor's New Clothes" voice, some might be OK in a teenagers school art exhibition - but nothing more than that. "Scrubby" and "scruffy" were two works which came into my head as I looked at some of the artworks.

I am also total dumbfounded at some of the prices people are asking for so little work, effort and/or skill. As I often comment, one can only assume that these are works by people who have no idea what price to put on their work - and what else people can buy for that sum of money.
I'm somewhat puzzled by the calibre of the thousands of entries if the artwork that was selected and exhibited was the best on offer. 

Also if (let's say - because we don't know) 2,000 entries were received, that means that only just over 7% were selected. 

I live in hope that this potentially important open exhibition will turn a corner. 
Maybe 2025 will the year?


Why enter the RWS Open?


The primary benefit of this competition is it acts as a platform for applying for membership of the Royal Watercolour Society

Friday, October 06, 2023

Is a minimum price for artwork in open art exhibitions necessary?

This post argues that the use of a MINIMUM price for artwork entries for an OPEN art exhibition/competition needs to be ELIMINATED.

In my view, any use of a MINIMUM price for artwork entries for an OPEN art exhibition/competition needs to have 
  • a clear and cogent business purpose - based on facts and not assumptions
  • which generates positive results i.e. more income not less
  • produces better value than no minimum sale price!
READ ON:  My investigations to date have produced no good reason for the use of a minimum price - and even less for raising it above the affordable art level if it is used!

PS. If you want to know why I write about the money side of art a lot, you might want to look at my background.


The Open Art Exhibition / Competition


The basic business premise of an open art exhibition / competition  is that it aims to
  • attract lots of entries - and thereby generate funds via entry fees 
  • get lots of good calibre art entered
  • select art which is good AND is priced to appeal to buyers
  • which sells well - and thereby generates funds from sales 
  • which means more exhibitions next year!
However it cannot just be about wishful thinking.

Generating sales at an open exhibition/competition needs to be focused on:
Generating funds is about:
  • covering the direct costs of the this year's exhibition
  • making sure next year's exhibition can take place i.e. creating a reserve for expenses related to running next year's open exhibition - many of which need an outlay in advance of the exhibition opening
  • contributing to the overheads of running the organisation / art gallery / competition etc
  • making money for the artists 
  • paying taxes!
What the exact business model is varies according to every open exhibition, its organiser and their business aims and financial / budgeting expertise.

So it's worth looking at what currently happens....

Specifically in relation to the concept of "the minimum price" for art entered into an art exhibition / competition.

What is a minimum price?


Very simply, SOME open exhibitions or art competitions require that art entered must be priced at or above a minimum specified price.

However, this is NOT a rule. It is NOT required. It is an OPTION.

I've rewritten this blog post a number of times. It keeps foundering on trying to define any sort of rationale for a minimum price - of which more below.

Who uses a minimum price for art in an open art exhibition/competition?


A number of open art exhibitions stipulate a minimum price for artwork entered into open art exhibitions. 

BUT NOT ALL DOBelow I've identified whether or not art competitions and open exhibitions use a minimum price

ABSOLUTELY NO MINIMUM PRICE

Thursday, September 28, 2023

The important things to know about pricing Affordable Art

The really important things to know 

about pricing Affordable Art




There are two things you need to know about pricing affordable art.

The first is that what the PUBLIC think is "affordable" is the only game in time.
It's emphatically NOT what the artists or the art galleries and art fairs think it is.
 
That's because they're trying to make money for themselves so they have a huge incentive to call it "affordable" but then pitch the price high!

The second is that it's the PSYCHOLOGICAL VALUE of a number that really matters. A poll I ran revealed that
  • Between 64-70% would buy art up to 500 (of whichever currency)
  • Between 70-91% would buy art up to 1000 (of whichever currency)
  • ONLY 9-10% would contemplate buying art above 1000 (of whichever currency)
The important thing is to identify what are the key hurdle prices which change behaviour. It's akin to the notion that you should always price just below an important hurdle price rather than just above.

Why I got interested in the price of affordable art

I became very interested in the concept of affordable art - and its pricing - back in 2010 (post the banking crisis of 2008 and what followed).  

This was a time when a lot of art galleries were closing - mainly because people were not buying and/or because the people who ran the galleries were not good business people and/or they had no concept of risk management and made no provision for a difficult economic context

The main reason for my interest was that artists were trying to sell in a difficult economic context and kept getting their pricing wrong which meant their sales were also plummeting.

They very much needed to understand 
  • what was deemed "affordable" and would still sell.
  • what were the key hurdle prices within the range they considered affordable.
  • how to avoid shooting themselves in the foot due to poor pricing practices.
We've now had 12 months of a very difficult economic climate with inflation and significant interest rate rises. It's not coming to an end any time soon - even if it has improved somewhat. We are still a long way adrift from where we were two years ago.

Bottom line - we are now back in the same territory as 2010 and the same issues and questions apply re. pricing.

What is an affordable price?

Wednesday, September 27, 2023

What is "Affordable Art"?


This is a discussion for artists, art galleries, art fairs and art dealers - over three blog posts today, tomorrow and Friday - about:

TODAY
  • What is "affordable"?
  • What is Affordable Art and how is it defined?
TOMORROW
  • How to price Affordable Art - the really important things you need to know - find out:
    • who determines what is affordable
    • why people attach importance to specific numbers
    • what are the big price hurdles and 
    • how they can vary between countries
FRIDAY
  • The importance of the minimum price to sales in open exhibitions
These all point in the direction of more information on this very important topic for all those trying selling art in a difficult economic context - particularly all artists, art societies, art fairs and art galleries.

________________________________________


What is "affordable"?


"Affordable" means something different to everybody, 
but generally means 'not expensive' relative to income
and can vary over time, place and economic context

It's a concept which relates to a very wide variety of products and services. 

"Affordable" is emphatically not the same as "cheap"
Very often it means
  • the price that people can "afford to pay" for a non-essential / discretionary good or service using any surplus income....
  • AFTER other necessary / essential demands on their income have been covered 
  • BUT it also depends on 
    • how financially secure they feel; and 
    • How big a financial 'buffer' they feel they need - and how much is left over for discretionary spending - and hence what feels "affordable"

The importance of substitution within the economic context


What seems very affordable in one year can look much too expensive in the next IF essential demands on income have increased (eg mortgage interest rate rises; inflation rate increases)

In this context, people can still have budgets which allow some spending - but not so much as before. Which means "affordable" can have moving goalposts.

Practical examples include:
  • people still have treats - but they are maybe not as big or as expensive (equivalent to still buying art - but at lower prices)
  • people take staycations rather than holidaying abroad because they are deemed more affordable. ( equivalent to people buying art online rather than from galleries because it's a popular thing to do - and also because nobody needs to know you used to buy more expensive art elsewhere)

What is "Affordable Art" and how is it defined?


In the context of art, very rich people are still very rich and can still afford to buy expensive art. But this is utterly irrelevant for most players in the art marketplace.

In my view (and from observation), in a time of economic difficulty, something usually happens within the vast numbers of people on "middle incomes" who like art and have bought it in the past
  • People who have bought expensive art in the past can 
    • start trading down and 
    • start buying more affordable art when they are feeling the pinch. 
  • They're still buying art - but just not spending so much. 
    • So they buy less (reduced sales)
    • or they buy at lower prices (changing the range of prices they're happy looking at)
Plus let's not forget, many artists who sell their "more affordable" art online commented that they made MORE money during the pandemic than they had ever done because people had the money spare for small treats - and couldn't get into the art galleries who were typically also much less good at marketing online!

So what's my definition of Affordable Art?

Monday, April 24, 2023

RI Annual Exhibition 2023: Analysis of art sales metrics and pricing artwork for the future

This is my third post about pricing in recent art society exhibitions. Today it's about the Royal Institute of Painters in Water Colours (RI) Annual Open Exhibition 2023 at the Mall Galleries in London in April 2023. 

The exhibition is the biggest exhibition of watercolours in the UK. This is my review of the exhibition Royal Institute of Painters in Water Colours Annual Exhibition 2023 in which I indicated I'd be doing this exhibition metrics post after the exhibition had closed.

Sales for this exhibition take place:
  • during the exhibition - to visitors
  • online - before, during and after the exhibition in the Mall Galleries

Below you can find charts I've produced from a lot of careful counting of artworks hung in the exhibition and which ones sold.

Plus some fairly robust comments.....


Exhibition Metrics: Artwork Exhibited and Artworks Sold

The purpose of the post is to illustrate some points about pricing which I've been making for some time - which are again underlined by the results I got from my analysis

This post considers three aspects
  • the number of artworks exhibited and sold in each price range - analysed between member and non-member artworks
  • observations on sales - in different price bands - for both members and non-members.
  • pricing lessons for:
    • the RI and Mall Galleries
    • member artists
    • artists selected via the open entry - when entering in 2024.
My charts reveal
  • which are the most popular price bands for sales.
  • which price bands have the most unsold work!

There are a number of important points - about which I'll comment more below - which, in summary are:

  • Price point hurdles are VERY important determinants of sale 
  • Affordable art sells well
  • There's an effective ceiling limit at the Mall Galleries - above which few artworks will sell
  • Excessive prices rarely generate sales for unknown artists - you need to be aware of the audience an exhibition attracts
  • Expensive artworks are harder to sell during a period of economic uncertainty

All/any pricing ALWAYS needs to take economic context into account. This is particularly relevant to some members who normally sell and sold no work in this exhibition.

I'm uploading larger versions of my pricing/sales charts to a post about them on my Facebook Page.

Overall:

  • 449 artworks were selected for hanging in the exhibition
  • 68 artworks sold - represented 18% of the artwork hung
  • open artists sold more artwork than RI members
    • 40 by RI members (17% of artwork hung)
    • 43 by artists selected from the Open Entry (20% of artwork hung)
  • most sales were for less than £1,500 - which has been a really important hurdle price for a very long time.
[NOTE: This post has been corrected for an error I made which I spotted this morning in the comments immediately after the first chart - and updated.] 

What proportion of artwork sold - across different price ranges?


Two price ranges saw the most sales - and there were few sales after £1,500

RI Annual Exhibition 2023
Comparison of total numbers of artworks sold and exhibited

  • Under £500: 36% of artworks hung sold - and most of these relate to small/smaller artworks by open entrants
  • £501-£750: 24% of artwork hung sold - again mostly in relation to smaller artworks
This is not untypical of what happens in an economic context of uncertainty such as 
  • the current cost of living crisis and 
  • concern around increases in interest rates - which has NOT abated (i.e. this applies to all upcoming exhibitions too)
Exactly the same thing happened when we had the banking crisis in 2008 - which is when I started monitoring prices and sales. Sales were much better at the "affordable art" end and basically sales crashed among the more expensive price ranges. Interestingly I could spot established artists on the wall who had learned the hard lessons of 2008 and adjusted what they submitted accordingly. (In 2009 we had a LOT of "play it safe during the recession" exhibitions and this is what I've been expecting to see this year)

Other observations which can be made are:
  • the first four price ranges have a similar number of artworks hung
  • however the number of sales in the first four price ranges DIMINISH as the price rises
  • after £1500 (a VERY important price hurdle observed by me in numerous FBA exhibitions)
    • the numbers of artworks hung drop off dramatically
    • the drop in sales is even more dramatic
    • only 6 artworks sold above £1500
  • nobody sold above £5,000
I am absolutely certain there are artists who would have sold or sold more if they'd had better information about 
  • how sales work relative to prices in these galleries - and 
  • how best to price in relation to price hurdles
  • how best to price in a time of economic uncertainty

What are the price hurdles?

Wednesday, April 19, 2023

RWS Open Exhibition 2023: Analysis of prices and sales of selected artwork

This is the second in my series of posts about pricing for art society exhibitions relates to the annual RWS Open Exhibition of the Royal Watercolour Society (RWS)

View of the RWS Open from outside the Bankside Gallery on the South Bank

The RWS holds its exhibitions at the Bankside Gallery (next to Tate Modern) which despite being a very decent space for many exhibitions is not actually big enough to hold a combined member and non-member exhibition. It does however have an extremely good footfall outside - if they can be attracted down the steps.....

Consequently, the RWS holds 

This post relates to that latter show - the RWS Open held in the Bankside Gallery in March 2023. You can browse the artworks hung in the exhibition here

View of part of the exhibition

In order to produce this post this is what I did
  • I visited on the afternoon of the last day (19th March) and went around the Gallery and very carefully identified all the sales and marked these up on the list of artworks with the sames
  • I then analysed the sheet which listed all artworks in terms of price ranges
  • I then compared the number of sales in each of those price range and produced an excel spreadsheet with the results tabulated and charted... which you can see below.

This chart compares the number of artworks hung to the number of sales. It shows you 

  • (light column) the distribution of prices - between price ranges - of the artworks selected to be hung in the RWS Open. 
  • (darker column) the distribution of sales in those same ranges.

My observations can be found below

153 artworks were hung. Of these just 17 sold (11% of work hung).  It needs to be remembered that this is an exhibition of artists who are not as well known and many will lack followers and collectors. Hence I would not expect a high percentage of sales. 

In the various price ranges the chart above demonstrates a very pronounced bias towards more affordable art with the £500 and under category accounting for over 70% of the sales. This is the category commonly considered to be one which accounts for a lot of "impulse buys" which is a very important part of any gallery sales.

RWS Open at the Bankside Gallery

If looked at in detail, in terms of percentages:
  • £500 and less: 46% of the selected artworks hung and 71% of total sales
  • £501-£750: 22% of artwork hung and 12% of total sales
  • £751-£1000: 14% of artwork hung and 12% of total sales
  • £1001-£1500: 8% of artwork hung; NO SALES
  • £1501-£2000: 5% of artwork hung; NO SALES
  • £2001-£2500: 1% of artwork hung; 6% of sales (i.e. the one painting in this category sold. This was The Shed by Stewart Smith who also won the Dry Red Press Award)
  • £2500-£5000: 4% of artwork hung; NO SALES
This analysis certainly reinforces the importance of having a price range in an open exhibition below £500.

There's a conventional view that watercolours are worth less than paintings in oil. It's certainly true that oil paintings typically sell for more than watercolours. 

Monday, April 17, 2023

RBA Annual Exhibition 2023: Analysis of art sales metrics & Recommendations about pricing artwork

This week I'm focusing on pricing art - and looking at sales in three recent exhibitions I've visited.

This post is about the sales of artwork - by members and non-members - achieved in each price band at the Royal Society of British Artists Annual Exhibition 2023.

This post considers three aspects
  • the number of artworks sold in each price range - analysed between member and non-member artworks
  • observations on sales - in different price bands - for both members and non-members.
  • pricing lessons for:
    • the RBA and Mall Galleries
    • member artists
    • artists selected via the open entry - when entering in 2024.
My charts reveal 
  • which are the most popular price bands for sales. 
  • which price bands have the most unsold work!
Plus I comment on a well-established rumour about the Mall Galleries raising the future minimum price of an artwork - from £300 to £500 - and why this would lose money for the artists, society and the Mall Galleries. i.e in my opinion, a major rethink is required if the rumour is true!

(NOTE: 
  1. A number of you know I'm a qualified accountant and an ex-Finance Director who loves crunching the numbers to reveal what might not be obvious to those artists who are less happy with numbers! I've done quite a few exhibition metrics posts in the past.
  2. All charts and tables EXCLUDE any unframed sales of prints)

Sales at the Royal Society of British Artists' Annual Exhibition 2023

Number of artworks sold in each price range


Below is a chart which compares the number of artworks sold (97) to the total number of artworks exhibited (nearly 500) - by price range. 

In other words approximately 20% of the artwork on the wall was sold either at the Mall Galleries or online.

This chart does not examine whether artworks were by RBA members or open entrants. It purely focuses on:
  • the distribution of total artworks hung by price band (pale column)
  • the distribution of total artworks sold by price band (blue column)


The percentage of artwork sold in each price band has a very pronounced distribution.


From this, some obvious conclusions can be drawn:
  • the most popular price bands are all below £1,000 - with under £500 being the most popular (for what I commonly refer to as "impulse buys")
  • for the three price bands below £1,000 identified above the percentage of sales achieved for artworks hung is between 23-30% - which looks like a good result to me
  • by way of contrast over 90% of artworks in the top two price bands (above £2,000) failed to sell. (i.e. 7 sales out of 93 hung = 7.5%)
    • That's very expensive wall space for a very low return on the 90%
    • I have been saying - for a very long time - that the only people pricing above £2,000 in the Mall Galleries should be artists with an established track record in reputable art galleries for sales above this figure. 
    • The artwork might be great - but if financial targets have to be met then pricing needs to be sensible and sensitive.

Tuesday, August 02, 2022

Pricing "Winners"

Today I'm commenting on the prices of artworks sold during the first 2-3 days of the "Winners | Award Winning Artists 2020-2022" Exhibition at the Mall Galleries. (Note: I'm going to be writing a long post about pricing in the context of the current economic climate in the near future.)

This follows my two previous posts

This post includes 
  • a chart of all sales (to date) analysed by the size of the artwork and the price category of the sold artwork.
  • commentary on my conclusions about the chances of artwork selling - by size and price categories
Winners Exhibition - View of West Gallery last Friday

As most of you know, most sales in an exhibition occur during pretty early in an exhibition. Notably 

  • when it goes online and 
  • at the Private View before it opens to the public, 
  • then in the first few days after that. 

I'm not going to Private Views routinely at the moment - and indeed I'm still walking round with a mask on given the fact Covid infection rates are rampant in London - and I've still not had it....

However I did visit last Friday - after the PV on Tuesday evening (and the rail strike on Wednesday) and the last thing I did before I left the gallery was to walk round and photograph every artwork which had sold.

I've also checked what sales have since occurred online and it's pretty much the same.

So today is an analysis along the lines of those done in previous reviews of exhibitions in these galleries. I've crunched the numbers and created an excel file with a data sheet and a chart. All sold artworks are categorised according to

  • price categories are those which I observe most sales in this location
  • sizes are new - and includes small, small medium, large medium and large - scaled according to the size of the artwork and NOT the framed size.

General observations on pricing

First of all though I'm going to make some general observations

Thursday, April 14, 2022

LS Lowry: the emerging artist and how he priced his paintings

Today I came across an unusual image in amongst a lot of image files I was transferring from one device to another. It's a list of priced oil paintings by Laurence S. Lowry - or LS Lowry as he became better known in later life.

The titles say a lot about life in Salford at the time

List of priced paintings exhibited by LS Lowry in 1921
at the Office of Rowland Thomasson at 87 Moselt Street, Manchester

On the Lowry website, there's a timeline of Lowry's life - so took a look and apparently back in 1921 he exhibited his paintings for the first time. 

In 1921 Lowry exhibited work alongside two other artists in an architect’s offices in Manchester. The exhibition was reviewed in the Manchester Guardian by Bernard Taylor who described Lowry as someone who ‘may make a real contribution to art.’
So I looked up "Office of Rowland Thomasson" and got this archive page about the architectural practice on the Manchester Victorian Architects website.

This states
In 1921 the artist L S Lowry, with two others exhibited in the offices of Rowland Thomasson at 87 Mosley Street Manchester. Here Lowry sold his first picture, a pastel, entitled "The Lodging House,"

So the first painting Lowry sold was a pastel - which he sold for 10 guineas.

That's the equivalent of just over £500 in today's money after allowing for inflation.

This was right at the beginning of Lowry developing his theme of painting the urban landscape seen on his travels as a rent collector.

Within a decade of that first sale his work was being collected by Manchester Art Gallery and
Salford Museum & Art Gallery.

Litographs of his work now sell for the low thousands. His oil paintings typically sell for in excess of £100k.

While the most most expensive sale of a Lowry work was The Football Match which sold for £5.6 million back in 2011. Lowry was a big City fan and had a bit of a fixation about painting on the theme of football matches!



The moral of the story? 

Paint what you know. Paint what you like and enjoy

Then think long and hard about how you price your paintings as you're starting out as an artist. It's probably more important to make a sale than to price too high and  make absolutely nothing.

It's also worth thinking long and hard about the price that attracts impulse sales....

Thursday, June 03, 2021

Pricing a marine artwork & RSMA Annual Exhibition Metrics

This is about the sales of artwork - by members and non-members - and the average prices achieved in each price band at the Royal Society of Marine Artists Annual Exhibition 2020. Plus what can be deduced from these numbers when pricing an entry in 2021.

It follows on from

I've written extensively on the topic of pricing How to price your art (on this blog and Art Business Info for Artists) and I'm writing this post about pricing because:

  • it's unusual for artists to review and analyse how much art sold for (as opposed to what prices were asked)
  • to provide a more practical context for how they should set their own prices

This post considers three aspects

  • the number of artworks sold in each price range - analysed between member and non-member artworks
  • pricing lessons for artists selected via the open entry
  • observations on sales - in different price bands - for both members and non-members.

Why artists need better advice and guidance about pricing

I've thought for some time that there ought to be clearer guidelines on pricing given to artists entering open exhibitions and art competitions.

I'd really fed up of seeing silly prices - and good artwork hanging on a wall unsold. 

To my mind this is:

  • Either a failure of marketing (i.e. the right people are not attending the exhibition)
  • Or pricing by member artists - despite past trends on sales and prices in annual exhibitions (assuming they get such data) i.e. are they not told or do they ignore the data?
  • Or failure to provide good guidance to artists submitting to an open exhibition / art competition via the open entry. Many artists need useful guidelines for pricing their artwork
 

Why I write about pricing and have written this post

One way or another, obvious failures for artists to price effectively needs to be addressed - and this post is by way of me "doing my bit".  

One of the reasons why I'm going to write about pricing is I like to see artists do well - and sell their art.  You also need to bear in mind that I'm an ex-Finance Director and analyst who likes crunching numbers!

I'm also probably the ONLY independent person in the UK who 

  • regularly monitors prices and sales of art
  • across both national art societies and major art competitions 
  • provides feedback on such pricing to artists aspiring to develop a professional career.

You can read more about pricing art on

 

One reason artwork does not sell is price

I often see excellent artworks in exhibitions at the Mall Galleries (both art competitions and art societies) - entered by those who were selected from the Open Entry - which do not sell.

I also see paintings by members which are 'adorning the wall' but not selling because they are overpriced for the venue and the audience. Presumably with a view to marketing commissions - but if they're not doing that either, then it's an expensive use of space.

The reason good to great artworks do not sell, in my view, is primarily often down to how they've been priced - and whether pricing decisions were well-informed.

One of the factors critical to sales is the marketplace the exhibition is taking place in. A marketplace can be defined by the characteristics it exhibits as to ceiling prices and what sort of work sells.  

 

RSMA Annual Exhibition Metrics 2020 - Sales and Pricing

This is a partial view only of the metrics for sales at the RSMA Annual Exhibition in 2020. The numbers available can be sliced and diced in various ways.

The Chart and Table BELOW show the number of artworks sold in different price bands.

The numbers are derived from the online exhibition and the sales recorded on the Exhibition Page on the Mall Galleries website

  • Given there was no catalogue last year, this is the only visible record of artwork in the exhibition. 
  • You can still see the 2020 artworks - with details of medium, size and prices - on the Mall Galleries website - and which ones sold!
RSMA 2020: Chart of member (dark blue) and nonmember (pale blue)
sales of artworks across different price bands



  • Average prices for each price band are show in the table below - along with the figures for number of sales for members and non-members. 
  • The percentage column indicates how the NUMBER sales within price bands contributed to total sales - in a cumulative basis. 
  • The latter is NOT the same as how sales within each band contributed to the total value of sales made.
RSMA 2020: Number of sales and average price across different price bands
Plus how each price band cumulatively contributed to total sales (Numbers only)
 
The Table ABOVE indicates

Sunday, February 16, 2020

Pricing a Pastel and Pastel Society Annual Exhibition Metrics

The annual exhibition by the Pastel Society is the largest exhibition of artwork in pastels and other dry media in the UK every year.

The Pastel Society Private View

I reviewed the exhibition 10 days ago - see 121st Annual Exhibition of The Pastel Society

Following on from my review of other annual exhibitions by national art society last year - and the closure of the exhibition earlier today - I'm now going to review below the exhibition metrics (relevant performance data) for the 2020 Annual Exhibition:
  • how open is this open exhibition - the ratio of members to non-members
  • how well pastel artwork has sold - with specific reference to price bands
But first the prizewinners.

I didn't get back to the exhibition, because I acquired a cold and spent most of last week sneezing repeatedly and going through boxes of tissues. With the current scare re the coronavirus I decided I'd rather not be heckled for looking as if I might infect people - even if it was only a cold.

(NOTE: Metrics - I apply a standard system of measurement to all the annual exhibitions I review)

Prizewinners


The Mall Galleries has done an excellent review of the Pastel Society Prizewinners on its blog - which includes large images of the artworks.

An Open Annual Exhibition


Malcolm Taylor sold three artworks - two of which are in this photo

Those aspiring to exhibit at the Pastel Society in 2021 should be reassured that this is a proper OPEN EXHIBITION
  • 282 artworks were exhibited. Of these
    • 170 are members (60% of artists)
    • 112 are non-members (40%).
  • 128 artists exhibited. Of these:
    • 44 were members (34%)
    • 1 was a deceased member
    • 84 were non-members selected from the open entry (66%)

The one thing I find quite odd is that the total number of works exhibited in the same three galleris at the Mall Galleries is well below the number exhibited (for example) by the RI (which exhibited 411 artworks by 166 artists in April 2019).

I think once the Pastel Society have reviewed the sales figures in relation to price and size, they might want to think long and hard about whether next year's exhibition might be bigger - with maybe more smaller paintings.

I recommend this exhibition to all those aspiring artists working in dry media - bearing in mind that it's not just about pastels.  It's also very evident that works across a range of subject matter and styles can sell well - if priced to sell.

ALL ARTWORKS (including those by members) are reviewed by the selection jury.

The average number of paintings hung in this exhibition were
  • Members: 3.9 paintings (not every member submits the 5 they are entitled to submit and not all get all works hung)
  • Deceased member: 1 painting
  • Non-members: 1.3 paintings
    • Most non-members have just one and sometimes two paintings in the exhibition.
    • Those who have applied to be a candidate for membership often have more than two paintings in the exhibition - and I suspect those who would be considered as a candidate if they'd only get round to applying!
    • The implication for those applying to get work hung in this exhibition is that they MUST submit their BEST work - and two works might be the optimum number of works to submit (if not previously selected)

Sales at the Pastel Society Annual Exhibition


I'm going to start by saying I'm absolutely convinced that sales during the Pastel Society Annual Exhibition 2020 were undoubtedly reduced due to the absolutely appalling weather we have been having - which will in turn have reduced the numbers wanting to leave home and make the effort to travel to London for the exhibition.

Plus the fact that both Storn Chiara and Storm Dennis chose to arrive at the weekends!!!  This weekend there were a record number of flood warnings and alerts in England, according to John Curtin, the Environment Agency's head of floods and coastal management.

It's really bad luck for any art society when you get very bad weather during an exhibition - but to get it both weekends is really unfair!

Number of artworks sold in each price range


In total 62 paintings sold - 33 (53%) by members and 29 (47%) by open entrants.

The chart below records sales results for 62 sales recorded online at midday today on the Pastel Society website and the Mall Galleries website. I'm not 100% sure that all artworks listed in the catalogue were also listed on the website but my sample check indicated that they were and the numbers between catalogue and website also seemed to correlate.

Number of artworks sold by price range - pale blue = non-members

By way of a preamble, it probably goes without saying - but I'm going to reiterate this very important point - that DRY MEDIA drawings and paintings - like watercolours - typically sell for less than oil paintings.

Unless they look incredibly like oil paintings and are presented without a mat. So you need to bear this in mind when looking at the figures below.

I've number-crunched all the sales on my Excel spreadsheet and these are the sales metrics worth highlighting

My conclusions are:

Wednesday, April 24, 2019

Pricing a Watercolour & RI Annual Exhibition Metrics

The annual exhibition by the Royal Institute of Painters in Water Colours is the largest exhibition of watercolour paintings in the UK every year. 

It's also on for a decent length of time so it seemed very suitable to test my theory on pricing art prior to writing up of my proposed blog post on how artists are pricing themselves out of sales (COMING SOON)

This post covers the exhibition metrics (relevant performance data) for the 2019 Annual Exhibition:
  • how open is this open exhibition - the ratio of members to non-members
  • how well watercolour artwork has sold - with specific reference to price bands.

An Open Annual Exhibition


This is a proper OPEN EXHIBITION - and I recommend it to aspiring artists working in watercolours.
  • 411 artworks were exhibited. Of these
    • 249 are members (61% of artists)
    • 162 are non-members (39%). 
  • 166 artists exhibited. Of these:
    • 50 were members (of the current total of 53 members)
    • 4 were deceased members
    • 112 were non-members selected from the open entry
The average number of paintings hung were
  • Members: 4.9 paintings
  • Deceased members: 1 painting each
  • Non-members: 1.4 paintings
    • Most non-members have just one and sometimes two paintings in the exhibition. 
    • Only those who have applied to be a candidate for membership have more than two paintings in the exhibition
It's also an exhibition which had c. 7,000 visitors and hence a huge number of people looking at paintings during the course of the exhibition.  Mind you I think a lot aspire to be in the exhibition! 

Pricing a Watercolour 


One of the reasons why I'm going to write about pricing is I like to see artists do well - and sell their art.You can read more about pricing on my Art Business Info website - see
I often see excellent artworks in exhibitions at the Mall Galleries (both art competitions and art societies) entered by those who were selected from the Open Entry which do not sell.

I also see paintings by members which are 'adorning the wall' but not selling because they are overpriced for the venue and the audience.

The reason excellent artworks do not sell, in my view, is primarily down to how they've been priced.

This section considers three aspects
  • the number of artworks sold in each price range - analysed between member and non-member artworks
  • pricing lessons for artists selected via the open entry
  • observations on member artist sales

Number of artworks sold in each price range


To start trying to explain my theories on pricing (which I've held for some time) I decided to test them by monitoring all sales being recorded on the Mall Galleries website for all those paintings which had a digital image on the website.

I did three checks
  • after the preview and the first couple of days of being open to sales IN THE GALLERY (which is the period when most sales are generally made). These sales also included all those sales made online before the exhibition opened.
  • a week later 
  • on the final day
There were quite a lot of sales at the beginning and, interestingly, more sales in the final week than I was expecting towards the end - but sales slowed in the middle of the exhibition.

All the paintings I liked and expected to sell sold - bar a couple (however they may have sold but were not online or not updated online).

All the paintings I knew were overpriced did not sell.  

In total 76 paintings sold - 49 by members and 27 by open entrants.  
The chart below records sales results for 60 sales recorded online (33 by members and 27 by non-members).


Chart of all sales recorded online at the RI Annual Exhibition 2019
  • Two thirds of sold paintings by members and ALL the sold paintings by non-members are included in the above chart
  • Non-members dominate the under £500 category. (Members often overprice their small paintings!)
  • Above £500 RI members typically dominated sales
  • Two-thirds of the 60 sales I recorded sold for less than £1,000 - 19 by RI members and 20 by non-members
  • Sales priced above £1,500 drop dramatically as a percentage of the total.
  • Very few paintings sell for more than £3,000 - unless they have a strong following and/or fans with a big wallet.
  • £1,500 is a significant price hurdle for watercolours - Three women and one man who all sold well all kept their prices below £1,500.

Pricing lessons for selected artists via the open entry


Key points:
  • Inexperienced artists who are ignorant of market prices often overprice. 
  • Most non-members' paintings sell for less than £1,000
  • Very few watercolour artists sell paintings for more than £3,000 at the Mall Galleries. Those that do have a strong following and/or paint excellent large watercolours
  • Watercolours in general cannot compete with the price of oil paintings and should be priced accordingly. 

Issues for pricing:
  • Unfamiliarity with the exhibition affects pricing. This is an exhibition which attracts entries from all over the country. However not every artist who enters via the open entry has been to the exhibition previously. It's very probably the case that most have not analysed pricing and sales. In addition, seeing overpriced paintings in exhibitions can lead people to think this is the price for this type of painting in this type of market. However the only prices worth taking note of are those associated with paintings which sell.
  • Inexperience and ignorance can be addressed. You can gauge prices and learn about markets for specific types of paintings by visiting an exhibition near the end and making a note of what does sell - and what doesn't.  Now you can even monitor as I did via the online version of the exhibition - so there's now no excuse for provincial and parochial "pricing blindness". 
  • The mythical "London premium" is often used by provincial artists. They loading their prices with "a London premium" of their choosing which has generally been arrived at after inadequate market research. These artists generally don't sell. 
  • Those who aspire to be members will not impress if they do not sell.
  • Artists should always keep their prices more or less consistent wherever they are selling.
  • The acrylic confusion: One of the issues that causes confusion in watercolour exhibitions is when painters in water colours who use acrylic paints price their watercolours more like oil paintings. However an exhibition of watercolours attracts collectors who pay watercolour prices. 

Member artist sales


Key points:
  • Members would be well advised to look at how those artists who sell well price their art (see below)
  • Those who sold well know their market/followers and did not over price
  • All stayed below a threshold price - rather than pricing just above it
  • The number of sales sales drop dramatically above £1,500 - except for those with a strong following

RI Members who sold well were:
  • Lilias August (still life collections) - 3 paintings + silent auction painting
  • Vasha Bhatia (realistic architectural paintings of prominent / important buildings) - 4 paintings
  • Lisa Graa Jensen (fantasised landscapes) - 3 paintings
  • Rosa Sepple (large / expensive fantasy maritime painting) - 1 painting
  • Ian Sidaway (graphic stylised trees in landscapes) - 3 paintings
  • Shirley Trevena (loosely painted unconventional floral still lifes) - 4 paintings
  • Geoffrey Wynne (colourful paintings of international scenes) - 3 paintings
I only realised at the end that the Mall Galleries website only hosted virtual images of some two thirds of sales of member artworks in the exhibition. Presumably this is because some members failed to supply a digital image of their artwork to the organisers of the virtual online exhibition.

This is a pity - because like other prominent galleries - a number of sales took place in advance of the exhibition opening.

However members cannot sell their artwork to people viewing online if their artwork is not online!

It appeared to me that a significant number of members had no sales - including artists who have sold regularly in the past. However I can only be certain about that for those artists who had ALL their artworks online - and not all did.

Pricing / sales lessons for art societies and galleries


Clearly there's a lot of artists who need an education on pricing for exhibitions at the Mall Galleries - and that notion may well include art society members as well as non-members.

I think there's a case for art societies to act more like the David Shepherd Foundation's Wildlife Artist of the Year Exhibition.
  • That exhibition aims to raise funds for charity (conservation of wild animals) 
  • Consequently it also aims to maximise sales. 
  • It therefore reserves the right to suggest an artist revises their price to make it more likely to sell. 
  • As I understand it the way it works is if the artist won't budge then the artwork may not be exhibited.
I'd suggest serious consideration is given by FBA societies to the introduction of an EXTRA FILTER  (i.e. Is the price realistic?) when selecting artwork for an open exhibition - and the society should challenge artists as to whether this is a price they have achieved in the past.

Introducing a "price check" for realism may net more sales - and more commission even if the artworks are priced lower.

After all an over-priced artwork that does not sell is a net loss to:
  • a gallery which loses on commission through no sale - and the opportunity cost of selling other artwork which might well sell
  • an art society which wants to help artists in general to do well
  • an artist who has paid for transport, framing etc 
  • an artist's career. It's all very well seeing selection for a national art society exhibition as a pathway to getting a gallery - but all galleries are interested in (after they have assessed whether your art makes the grade / fills a gap) is whether or not you are already generating sales i.e. are people interested in your work when it is realistically priced!
Pricing to sell is a really good strategy for a long term career.

In terms of overall sales I think the Mall Galleries could promote the Own Art scheme better. The majority of those attending exhibitions are people who want to buy art if it is affordable.

I think if more people realised they could buy art for 10 equal payments then more people would buy art.

PRICING


How to Price Art - on my art business info website - includes the following topics:
Plus don't forget to complete the poll about pricing. Note you are not alone if you need to learn more about pricing.

The Poll on my website

ARCHIVE: RI Annual Exhibition 2007-2018



2019 
2018
2017
2016
2015
2014
The purpose of this video isn't to give you an in-depth view of all the paintings so much as to give you:an idea of the overall size of the exhibition
a notion of how big the paintings are that get selected via the open entry
a view of the paintings that were selected this year
2013

This exhibition has always been very popular with the provincial art societies whose members arrive in droves - on coaches!
2012 

2011

2010

2008
2007