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Pricing A Watercolour & Ri Annual Exhibition Metrics

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The annual exhibition past times the Royal Institute of Painters inward Water Colours is the largest exhibition of watercolour paintings inward the U.K. every year. 

It's also on for a decent length of fourth dimension so it seemed really suitable to examination my theory on pricing fine art prior to writing upward of my proposed weblog post service on how artists are pricing themselves out of sales (COMING SOON)

This post covers the exhibition metrics (relevant functioning data) for the 2019 Annual Exhibition:
  • how opened upward is this opened upward exhibition - the ratio of members to non-members
  • how good watercolour artwork has sold - amongst specific reference to cost bands.

An Open Annual Exhibition


This is a proper OPEN EXHIBITION - as well as I recommend it to aspiring artists working inward 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 electrical flow full of 53 members)
    • 4 were deceased members
    • 112 were non-members selected from the opened upward entry
The average number of paintings hung were
  • Members: 4.9 paintings
  • Deceased members: 1 ikon each
  • Non-members: 1.4 paintings
    • Most non-members convey but i as well as sometimes 2 paintings inward the exhibition. 
    • Only those who convey applied to hold upward a candidate for membership convey to a greater extent than than 2 paintings inward the exhibition
It's also an exhibition which had c. 7,000 visitors as well as hence a huge number of people looking at paintings during the class of the exhibition.  Mind you lot I mean value a lot aspire to hold upward inward the exhibition! 

Pricing a Watercolour 


One of the reasons why I'm going to write almost pricing is I similar to come across artists practise good - as well as sell their art.You tin read to a greater extent than almost pricing on my Art Business Info website - see
I frequently come across splendid artworks inward exhibitions at the Mall Galleries (both fine art competitions as well as fine art societies) entered past times those who were selected from the Open Entry which practise non sell.

I also come across paintings past times members which are 'adorning the wall' but non selling because they are overpriced for the venue as well as the audience.

The argue splendid artworks practise non sell, inward my view, is primarily downward to how they've been priced.

This department considers 3 aspects
  • the number of artworks sold inward each cost range - analysed betwixt fellow member as well as non-member artworks
  • pricing lessons for artists selected via the opened upward entry
  • observations on fellow member creative soul sales

Number of artworks sold inward each cost range


To start trying to explicate my theories on pricing (which I've held for some time) I decided to examination them past times monitoring all sales beingness recorded on the Mall Galleries website for all those paintings which had a digital paradigm on the website.

I did 3 checks
  • after the preview as well as the foremost yoke of days of beingness opened upward to sales IN THE GALLERY (which is the menstruum when most sales are to a greater extent than frequently than non made). These sales also included all those sales made online earlier the exhibition opened.
  • a calendar week later 
  • on the in conclusion day
There were quite a lot of sales at the starting fourth dimension and, interestingly, to a greater extent than sales inward the in conclusion calendar week than I was expecting towards the halt - but sales slowed inward the middle of the exhibition.

All the paintings I liked as well as expected to sell sold - bar a couple (however they may convey sold but were non online or non updated online).

All the paintings I knew were overpriced did non sell.  

In full 76 paintings sold - 49 past times members as well as 27 past times opened upward entrants.  
The nautical chart below records sales results for lx sales recorded online (33 past times members as well as 27 past times non-members).
Chart of all sales recorded online at the RI Annual Exhibition 2019
  • Two thirds of sold paintings past times members as well as ALL the sold paintings past times non-members are included inward the inward a higher house chart
  • Non-members dominate the nether £500 category. (Members frequently overprice their pocket-size paintings!)
  • Above £500 RI members typically dominated sales
  • Two-thirds of the lx sales I recorded sold for less than £1,000 - xix past times RI members as well as xx past times non-members
  • Sales priced inward a higher house £1,500 drib dramatically every bit a percent of the total.
  • Very few paintings sell for to a greater extent than than £3,000 - unless they convey a rigid next and/or fans amongst a large wallet.
  • £1,500 is a meaning cost hurdle for watercolours - Three women as well as i homo who all sold good all kept their prices below £1,500.

Pricing lessons for selected artists via the opened upward entry


Key points:
  • Inexperienced artists who are ignorant of marketplace prices frequently overprice. 
  • Most non-members' paintings sell for less than £1,000
  • Very few watercolour artists sell paintings for to a greater extent than than £3,000 at the Mall Galleries. Those that practise convey a rigid next and/or pigment splendid large watercolours
  • Watercolours inward full general cannot compete amongst the cost of crude paintings as well as should hold upward priced accordingly. 

Issues for pricing:
  • Unfamiliarity amongst the exhibition affects pricing. This is an exhibition which attracts entries from all over the country. However non every creative soul who enters via the opened upward entry has been to the exhibition previously. It's really in all likelihood the illustration that most convey non analysed pricing as well as sales. In addition, seeing overpriced paintings inward exhibitions tin Pb people to mean value this is the cost for this type of ikon inward this type of market. However the solely prices worth taking depository fiscal establishment complaint of are those associated amongst paintings which sell.
  • Inexperience as well as ignorance tin hold upward addressed. You tin justice prices as well as larn almost markets for specific types of paintings past times visiting an exhibition nigh the halt as well as making a depository fiscal establishment complaint of what does sell - as well as what doesn't.  Now you lot tin fifty-fifty monitor every bit I did via the online version of the exhibition - so there's straight off no excuse for provincial as well as parochial "pricing blindness". 
  • The mythical "London premium" is frequently used past times provincial artists. They loading their prices amongst "a London premium" of their choosing which has to a greater extent than frequently than non been arrived at after inadequate marketplace research. These artists to a greater extent than frequently than non don't sell. 
  • Those who aspire to hold upward members volition non print if they practise non sell.
  • Artists should ever continue their prices to a greater extent than or less consistent wherever they are selling.
  • The acrylic confusion: One of the issues that causes confusion inward watercolour exhibitions is when painters inward H2O colours who exercise acrylic paints cost their watercolours to a greater extent than similar crude paintings. However an exhibition of watercolours attracts collectors who pay watercolour prices. 

Member creative soul sales


Key points:
  • Members would hold upward good advised to facial expression at how those artists who sell good cost their fine art (see below)
  • Those who sold good know their market/followers as well as did non over price
  • All stayed below a threshold cost - rather than pricing but inward a higher house it
  • The number of sales sales drib dramatically inward a higher house £1,500 - except for those amongst a rigid following

RI Members who sold well were:
  • Lilias August (still life collections) - 3 paintings + still auction painting
  • Vasha Bhatia (realistic architectural paintings of prominent / of import buildings) - iv paintings
  • Lisa Graa Jensen (fantasised landscapes) - 3 paintings
  • Rosa Sepple (large / expensive fantasy maritime painting) - 1 painting
  • Ian Sidaway (graphic stylised trees inward landscapes) - 3 paintings
  • Shirley Trevena (loosely painted unconventional floral still lifes) - iv paintings
  • Geoffrey Wynne (colourful paintings of international scenes) - 3 paintings
I solely realised at the halt that the Mall Galleries website solely hosted virtual images of some 2 thirds of sales of fellow member artworks inward the exhibition. Presumably this is because some members failed to provide a digital paradigm of their artwork to the organisers of the virtual online exhibition.

This is a compassion - because similar other prominent galleries - a number of sales took house inward advance of the exhibition opening.

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

It appeared to me that a meaning number of members had no sales - including artists who convey sold regularly inward the past. However I tin solely hold upward for sure almost that for those artists who had ALL their artworks online - as well as non all did.

Pricing / sales lessons for fine art societies as well as galleries


Clearly there's a lot of artists who ask an teaching on pricing for exhibitions at the Mall Galleries - as well as that notion may good include fine art monastic say members every bit good every bit non-members.

I mean value there's a illustration for fine art societies to human activeness to a greater extent than similar the David Shepherd Foundation's Wildlife Artist of the Year Exhibition.
  • That exhibition aims to enhance funds for charity (conservation of wild animals) 
  • Consequently it also aims to maximise sales. 
  • It thus reserves the correct to suggest an creative soul revises their cost to brand it to a greater extent than probable to sell. 
  • As I sympathize it the means it industrial plant is if the creative soul won't budge so the artwork may non hold upward exhibited.
I'd suggest serious consideration is given past times FBA societies to the introduction of an EXTRA FILTER  (i.e. Is the cost realistic?) when selecting artwork for an opened upward exhibition - as well as the monastic say should challenge artists every bit to whether this is a cost they convey achieved inward the past.

Introducing a "price check" for realism may cyberspace to a greater extent than sales - as well as to a greater extent than committee fifty-fifty if the artworks are priced lower.

After all an over-priced artwork that does non sell is a cyberspace loss to:
  • a gallery which loses on committee through no sale - as well as the chance cost of selling other artwork which powerfulness good sell
  • an fine art monastic say which wants to assist artists inward full general to practise well
  • an creative soul who has paid for transport, framing etc 
  • an artist's career. It's all really good seeing alternative for a national fine art monastic say exhibition every bit a pathway to getting a gallery - but all galleries are interested inward (after they convey assessed whether your fine art makes the degree / fills a gap) is whether or non you lot are already generating sales i.e. are people interested inward your locomote when it is realistically priced!
Pricing to sell is a actually goodness strategy for a long term career.

In terms of overall sales I mean value the Mall Galleries could promote the Own Art scheme better. The bulk of those attention exhibitions are people who desire to purchase fine art if it is affordable.

I mean value if to a greater extent than people realised they could purchase fine art for 10 equal payments so to a greater extent than people would purchase art.

PRICING


How to Price Art - on my fine art concern information website - includes the next topics:
Plus don't forget to consummate the poll almost pricing. Note you lot are non lone if you lot ask to larn to a greater extent than almost pricing.

The Poll on my website

ARCHIVE: RI Annual Exhibition 2007-2018



2019 
2018
2017
2016
2015
2014
The exercise of this video isn't to arrive at you lot an in-depth sentiment of all the paintings so much every bit to arrive at you:an thought of the overall size of the exhibition
a notion of how large the paintings are that acquire selected via the opened upward entry
a sentiment of the paintings that were selected this year
2013

This exhibition has ever been really pop amongst the provincial fine art societies whose members acquire far inward droves - on coaches!
2012 

2011

2010

2008
2007

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