Artists, You Are Being Scammed! Price Your Art Accordingly!

Artists, You Are Being Scammed! Price Your Art Accordingly!

In the vibrant but often misunderstood world of art, the relationship between artists and collectors has taken a turn for the worse, thanks to a new breed of "collectors" who are more about scams than appreciation. Artists, it's time to think long term and think bigger. Here's why you should reconsider how you price your art:

The Real Value of Your Art

Do not base your art pricing on the whims of the market or the paltry offers from so-called collectors. Instead, evaluate the time, effort, and passion you pour into your creations. Your art is not just a product; it's an extension of your soul, your thoughts, and your life's work. The price you set should reflect this intrinsic value, not the lowest bid some "collector" is willing to offer.

The Scam of the $5K Collector

Imagine a "collector" with $5,000, aiming to purchase 1,000 art pieces. This isn't patronage; this is exploitation. Such collectors aren't interested in art's beauty or meaning; they're looking to exploit desperate artists for their own gain. They want to:

Buy art for $10 or less - Believing they can get away with the bare minimum.

Gain social media traction - They expect artists to be so grateful for the pittance that they'll promote these collectors online, boosting their public image.

Grow their influence - As their account grows, they become more coveted, with more artists potentially lowering their prices even further to get noticed.

Continue the cycle - Buying more art at rock-bottom prices to inflate their online presence and ego.

Feed their ego - They thrive on the power imbalance, enjoying the praise and perceived impact they have on artists' careers without significant investment.

This strategy does not support artists; it undermines them, making them appear desperate and diminishing the perceived value of art in the marketplace.

The Artist's Response

Artists, you have the power to stop this cycle:

Price your work fairly - Reflect your effort, your expertise, and the unique value of your art. Don’t undervalue yourself just to make a sale.

Educate your audience - Share your process, your struggles, and the story behind your art. An informed audience appreciates and respects the art more, leading to better valuation.

Network with genuine patrons - Seek out collectors who are genuinely interested in your growth as an artist, not just in the cheapest deal.

Use platforms wisely - Social media can be a double-edged sword. Use it to connect with real art lovers, not just to push sales at any cost.

A Call to Action

We live in a free world, which means there's little regulation to stop these types of exploitative practices directly. However, artists can collectively change this dynamic by standing firm on pricing and recognizing their worth. 

Next time you list your art, remember:

Your art is a labor of love, not a commodity to be bartered down.

Every piece you create contributes to the cultural tapestry of our world. Price it like it matters.

Artists, let's reclaim the dignity of our profession. Let's make it clear: we are not here to feed someone else's ego or social media account. We are here to create, to inspire, and to be valued.

See you on the other side of this revolution in art valuation! 🫡

This article aims to empower artists, encouraging them to value their work appropriately and to be wary of those who do not respect the art or the artist.

Written by Ivan Mazi Markov,

CMO at Endemic and creator of the book NFT School For Artists