OnDemand WTP Pricing Research

The Cost of Price Transparency: Why Some Dealers Would Rather Alienate You Forever Than Reveal the Price of an Artwork | artnet News

After receiving a PDF blast about a gallery’s forthcoming show of a new artist, San Francisco-based collector and arts publicist Florie Hutchinson replied to ask about prices. “Thanks so much for your interest,” came the response. “Just to warn you it is fairly unlikely there will be a painting available as we have a lot of people waiting for work and the priority is museums, then clients donating the works to museums. We’re also taking into consideration how long clients have been waiting and bearing in mind how much support those clients give the wider gallery program.”

For many novice art buyers, this sort of evasive reply to a seemingly routine question—how much does this cost?—is common. Collector and art trader Stefan Simchowitz recalls asking a gallery’s front desk attendant about the price of a painting and being told that only the sales director had access to that information. “What do you mean, you don’t know?” he asked. “You work here.”

Dealers have their reasons for keeping prices close to the vest. In an industry built on the asymmetry of information, knowing what is selling for how much equals power. But the art market’s unspoken, unofficial customs are now coming under unprecedented pressure as galleries seek to balance the desire for discretion with the need to expand their client base and stay relevant in the age of Big Data and online comparison shopping.

Read complete article here: 

The Cost of Price Transparency: Why Some Dealers Would Rather Alienate You Forever Than Reveal the Price of an Artwork | artnet News.

Post a Comment

WP-SpamFree by Pole Position Marketing