Do you know
  • the definition of "affordable art"?
  • what price is affordable art?
  • what values represent major price barriers for those buying affordable art?
  • where you can find affordable art?
  • ​how to support artists producing affordable art
Image: Creative Commons 2.0

What is "affordable art"?
​

"Affordable art" is defined by the marketplace.
What might be affordable by one segment of the market is very definitely not by those who are not so wealthy. You need to look at who the seller is pitching to to determine the context for their claims that art is affordable.

"Affordable Art" is also a brand name.
  • the term is used for a set of fairs which revolve around and spin off from the big name Art Fairs where art is sold for astronomical prices
  • so one version might be that "affordable" means "NOT astronomical"
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The term SHOULD be used to mean
  • art which is equivalent to quality art
  • being sold for a reasonable price and
  • capable of being bought by ordinary people who are not part of the top 1% or even top 10% of people in terms of wealth.

You DO not need to visit an art fair with "affordable" in its name to find affordable art.
  • Many high street galleries have affordable art
  • so do many online websites
  • plus the best place to find affordable art is on artists' websites - if they've remembered to price their art!!
Different places define it in different ways.
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Affordable art is a term used in many ways across the market for British Art . The actual definition and perception of affordable art is very subjective. What is affordable art varies in definition from one British art buyer to another set of British art buyers. So understandably affordable art for one art collector can be unaffordable art for another art lover.
Red Rag Gallery
With a name like the Affordable Art Fair, we’re no stranger to questions about the pricing of artwork. We understand that the word ‘affordable’ means something different to everyone, and what might be affordable to one individual or family, might seem like a whole lot more to someone else.
Affordable Art Fair
REFERENCE

What price is "affordable art"?

When trying to sell affordable art, it's critical to understand what are the mental price barriers are - whatever currency you are selling in.

Mental price barriers are the numbers beyond which people feel unable to go

This explains why people often sell their products at a price just below 'price point' which represents a mental price barrier to buying e.g. £950 or £999
People attach importance to certain NUMBERS irrespective of what their value actually is.

If you look at the two charts below they demonstrate that the two big numbers which are critical to affordable art are;
  • 500
  • 1,000

The BIG price points for affordable art are "mental price barriers"

Take a look at the two charts about the price of affordable art

Note the differences in opinions between the UK and USA
​- despite the differences in relative value
The really important point is that THESE ARE COMPLETELY DIFFERENT PRICES due to the exchange rate!

The NUMBERS "500" and "1,000" are hugely influential in terms of people's perceptions of what are "the BIG price barriers"
  • This is nothing to do with value and everything to do with the psychology of a number​
  • Both £500/£500 and $1,000/£1,000 produced a peak in the charts below and very similar values in terms of percentage responses
  • after which there was very little activity until the next price hurdle was reached.

How to support the artists behind affordable art
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If your priority if to help support the development of promising artists, can I recommend that you BUY DIRECT from the artist. 
  • they will then maximise the financial benefit from the price you pay
  • if you go on to collect more of their work, they will undoubtedly consider ways to make it more affordable for you.
Places where you can find Affordable Art
  • Graduation Shows for reputable art colleges
  • Annual Exhibitions by art societies. The majority of artwork sold at exhibitions by national art societies is between £300 and £5,000 - with most under £2,000
  • Art Galleries outside the Art Hot Spots eg. on high streets in provincial towns
  • Art Fairs which declare their focus is about affordable art
  • Instagram & Facebook - many artists now market their art direct to art collectors on social media. No commission is paid. Just be sure to clarify who pays for the shipping and how much it is.