Susan Washington

Two common sources of anxiety for artists and uncertainty for collectors are negotiation and using the "Make an Offer" feature often found on art platforms. Many artists hesitate when it comes to negotiating, while collectors are often unsure how to make appropriate offers.

In this blog, I'll address this often-avoided topic—the elephant in the room. The "Make an Offer" feature is helpful because it can spark conversations, build relationships between artists and collectors, and increase transparency in the art market. In this blog, I will share insights on how negotiation works, its benefits, and how artists and collectors can effectively use this tool.

### The Evolution of Art Sales and Negotiation

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The way we buy and sell art has evolved significantly over time, with negotiation playing a role throughout much of history. Through the Middle Ages and Renaissance, wealthy individuals, the church, and political leaders would commission artworks, and they were often negotiated with intermediaries. By the 19th and 20th centuries, gallerists emerged as negotiators. The digital age brought accelerated artist-managed sales and online marketplaces, empowering artists to directly engage and negotiate with collectors. 

Using an offer feature allows both collectors and artists to reach mutually agreeable terms, making art more accessible while maintaining its perceived value while creating open conversation and transparency.

### For Art Collectors

#### Why you might make an offer

**Purchasing multiple pieces**: If you're considering buying more than one piece from the same artist at once or a returning collector, making an offer can be advantageous. 

**Budget constraints**: Sometimes, a collector may feel a strong connection to a piece, but the listed price is just out of reach. Making an offer allows them to pursue a meaningful acquisition without overstretching their budget. Consider starting a conversation with the artist, sharing why you love the piece, what it means to you, and the budget you’re working with.

**Supporting emerging artists**: For collectors interested in supporting emerging artists, making an offer can be a way to invest in their careers early on. 
Building a Relationship: Initiating a conversation with an artist through an offer can lead to future opportunities, such as commissions or first access to new works.

#### How to make an offer

**Do your research**: Most artists develop a pricing structure based on a set of standards, which evolves over time, guided by their career trajectory, demand, and sales record. On Cohart, you can often view an artist's sales statistics and history. This is a great starting point, as it allows you to see what similar works by the artist have sold for. It also helps you gauge the appropriateness of your offer. 

**Additional resources**: Take advantage of additional resources on Cohart with these blogs: [How Much Should I Spend On Art](https://www.cohart.com/news/how-much-should-i-spend-on-art) and [Buying Art 101](https://www.cohart.com/news/unlocking-your-first-art-purchase).

**Approach the artist**: Approach the artist with a well-thought-out offer that reflects your appreciation of the work.

**Communicate**: Explain why you are drawn to a piece and how it fits your collection. This personal touch can make your offer more compelling. 

**Be prepared to negotiate**. Making an offer can open the door for negotiation. Be ready to discuss and adjust your offer based on the artist's feedback.

### For Artists

Discussing and negotiating the price of an artwork isn’t a new concept; what's new is that you can now manage this process directly. Embrace this shift and use it to your advantage. Allowing offers can boost engagement with buyers and create more opportunities. You retain complete control over the final sale and can choose to accept, counter, or decline any offer.

#### Steps for Communicating and Negotiating Offers

**Let potential buyers know you are open to offers**: Let buyers know you're open to offers by selecting the “accept offers” option when you [upload your art](https://support.cohart.com/uploading-guidelines) on Cohart.

**Assess the Offer Thoughtfully**: Consider the buyer’s history and the offer's alignment with your pricing structure. Also, consider if the buyer is interested in multiple pieces, your pricing structure and market value.

**Communicate Your Perspective**: If an offer is lower than expected, counter with an explanation, referencing similar sales in previous similar works. This explanation helps educate the buyer and shows you are willing to negotiate.

**Maintain Professionalism**: Always keep a professional and positive tone when discussing offers.

**Be Ready to Negotiate**: Be prepared to find a middle ground through counteroffers.

**Set Clear Boundaries**: Know your limits and be willing to decline offers that don’t meet your expectations.

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The “Make an Offer” feature on Cohart is a powerful tool for artists and collectors. By approaching it with openness, communication, and a willingness to negotiate, you can create more opportunities and foster meaningful relationships within the art market. Embrace this feature to make art more accessible, build connections, and ultimately enhance the buying and selling experience for everyone involved. 

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Cohart's insights on how negotiation works, its benefits, and how artists and collectors can effectively negotiate offers.

Make an Offer – Bridging the Gap Between Artists and Collectors

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