When most of us think about going to buy fine art, we tend to think of going to an art gallery to make that purchase.  Then we get there and reel from the sticker shock we see on price tags.  This is enough to dissuade most people from buying fine art right there.  However, there are some who wonder if those prices are negotiable.  That’s what we’re discussing here today.

How Art Galleries Make Money

In order to properly understand whether art gallery prices are negotiable, we first need to understand how they make their money.  Art galleries, if they don’t own the product outright, are paid on consignment.  This means that they take a cut from the final sale price of any item they sell.  Often this cut is a percentage of the total sale price.  From this percentage, they pay their employees and other bills to keep their doors open.  Because of this, it is in their financial best interests to sell art at as high a price as possible.

Artists and galleries probably write a certain amount of buffer into the price you see on the tag.  They will also have a minimum selling price which you will not be able to negotiate below no matter what.  You’ll find this especially true for limited edition or one-of-a-kind high end art.

Will an Art Gallery Negotiate on Price?

Some galleries will have a policy of never negotiating price no matter what.  Others will allow for price negotiation or bargaining.  It depends on the gallery, the clientele they cater to, and the individual artists’ wishes.  The higher end the art, the more likely you will be able to bargain with them.  However, the better known the artist, the less likely you can negotiate on price.

If you find a gallery interested in making a sale on something that’s been sitting for a while, they might be willing to negotiate the price listed on the art piece for sale.  It certainly won’t hurt to ask. You might be surprised at what the art gallery might be willing to deal on.  Just don’t expect a huge discount.  They do still have to keep their doors open after all.

Also, keep in mind that negotiation prices are also dependent on the personal preferences of the artist who created the piece.  If he or she isn’t interested in lowering the price, you’re out of luck no matter what the gallery’s policies are concerning negotiation.  In short, be prepared to hear ‘yes’ on one piece and ‘no’ on another in the same gallery.

Conclusion

So, in short, are art gallery prices negotiable?  The answer is “it depends.”  Each is different and will have their own policies.  If you don’t see the policy posted, ask the staff.  They’ll let you know either way.  They’ll also tell you the personal feelings of the artist they represent.  It’s a quick and painless question which might save you some headache and embarrassment later.

Have you had any experience negotiating prices with an art gallery?  We’d love to hear about them.  Please leave them in the comments section below so we can all learn more about how flexible they generally are when negotiating.