How do you price your artwork?
I have had a few artists ask me this recently, and unfortunately it’s a really hard question to answer because every artist prices their work completely differently. In this article I’ve listed some tips that hopefully will help you determine how to price your art.
Some things to factor in:
1. Do you NEED to sell your art (like do you really need money fast) or do you just want to sell it so others can have it?
2. How much do YOU like the art piece?
3. How big is it?
4. How much did the materials cost?
5. How much time did you spend on it?
Those are all questions you need to ask yourself when figuring out how to price your artwork.
Logically, I would recommend never selling your work for less than the materials cost, otherwise that’s just silly. Also logically, an 8×10 canvas is going to cost less than a canvas that’s 24×36, so you would usually want to charge more for the larger painting because the materials cost more, even if you spent the same amount of time on each.
Personally, I price my artwork mainly based off of the size and how much I like it. An example: I had two paintings that were the same size and the materials cost the same. On painting number one I spent a lot more time, but I liked painting number two better, so I sold painting number two for $50 more than painting number one.
If you’re just starting out as an artist and just beginning to sell your work, I would recommend pricing your paintings mostly under $100 (of course still keeping in mind the cost of the materials). Once you start to make a name for yourself and your work starts to sell, your prices will go up as well.
At my first art show my most expensive painting was probably $80. Most of them were priced around $40 or $60. In my recent art shows my cheapest painting has been $100, with the most expensive being $300. That’s because my artwork has improved a LOT from where I started and I put a lot more time and care into my paintings than I used to. I have also made a name for myself and my art, so it sells for more.
In a few years the prices will probably go up again. I would also recommend giving friends and family discounts as well though, so they can affordably purchase your art.
Additional words of wisdom:
1. Put the prices for your art on your FB page, site, on-line store, etc. You will sell a LOT less if people don’t know how much your work costs. Most people are not going to go through the work to contact you to find out the price for something, they will just move on and forget about it.
2. Keep your prices fairly consistent. Don’t charge $200 for a painting on your site, then try to sell the same painting for $400 at an art show or gallery. It’s bad form and unprofessional.
Article Sourced from TheArtCollaboration