Let’s take a look at art. Because part of the artist’s dilemma is how to price a particular piece. And this is related to our questions about underachievers.

I’ve been coaching Paula, a Chicago-based artist who is a high potential. (If you’re know the numbers, she coded as 4L at 32.) She’s an amazing individual, someone who had Pres. George Bush, Sr. call her up; knew Vice Pres. (and Hoosier Son) Dan Quayle, being quite chatty with him; and knows an amazing list of well-known American artists who always take her phone calls. In addition to producing a decent and diverse body of work.

But she struggled to make ends meet in Chicago.

Here’s the secret: she worked at the wrong level, in the wrong area, and underpriced herself so much that people assumed that she was incompetent.

Paula’s art is crap at $450.

But at $4,500 it’s a bit pricey.

What’s the deal? How can she raise her prices by an order of magnitude and be seen as a better deal?

It has to do with people’s ability to judge higher levels of work, and the role money plays as a proxy in that.

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