Posts Tagged ‘pricing’

(photo of Thierry Guetta, aka: My Brainwash, by Gregory Bojorquez)
When pricing your work it’s good to consider how long you’ve been selling your art. Perhaps you haven’t made your first sale yet or maybe you consistently sell two originals every month. It should be obvious that if you’ve never sold your work before it would be wise to charge less than a person that’s been selling consistently for fifteen years.

Unfortunately, a lot of artists new to selling see work that is similar to their own at high prices and assume they should charge the same. Just because your work is similar you must keep in mind that the other artist has worked long and hard for years to arrive at their prices. There is a good chance they have a long list of collectors, have received some press and also have representation in a reputable gallery (or several) as opposed to selling out of their garage or on a street corner. In a sense, they have paid their dues and know what people are willing to pay for their work. A lot of big name artists are in such high demand that they even have waiting lists of collectors standing by to snatch up the next available piece. If you are just starting out there is a good chance you don’t have any of those things. I know that sounds harsh, but that’s the reality and we all have to start somewhere. Don’t worry, if you keep it up you’ll get there too.

Of course, I always encourage artists to know the market their work fits into and researching what else is out there. It’s good to know what similar art is selling for so you can set goals and work towards those higher prices. Be realistic with where you’re at in your art career and price accordingly. If your work sells out fast then you know to price higher the next time around. Remember, if your work does sell fast don’t feel like you got ripped off or cheated. There is a bigger value than you think in having your work out of your studio and out in the world to be seen. Also if your work does sell fast you now have bragging rights to say your show sold out, which will create more demand for your work in the future.

If you’re a mid-career artist or a full time professional I think it’s safe to assume that you’ve figured out this whole pricing thing by now so if you have any tips and pointers for artists new to the game please leave a comment.

“I have no idea what to charge. How do I know what to price my artwork at?”

Does this sound familiar? Have you found yourself asking the same thing? Of all the things artists ask me how to price their work has got to be one the most asked question I get. Lately, it’s extended far beyond visual artists like painters and has come to include everything from photographers to fashion designers to composers to videographers to writers and more. A lot of creative people are concerned with pricing. And rightly so. I’ve found there are two main things that confuse creative types when it comes time to put a price on their artistic creations.

First, you don’t want to under price and sell yourself short.
Second, you don’t want to overprice and miss the sale.
It’s a conundrum.

There are so many factors that can influence pricing your artwork that there is no way to cover them all in a single post, unless you want to read until your eyeballs bleed. So, this will be an ongoing topic we’ll visit frequently.

As I was saying there are a lot of things to consider when pricing your artwork whether it’s a painting, drawing, limited edition print, an article you’ve written, a score you’ve composed, etc. Because I’m a painter I will focus on pricing artwork, but these pricing tips could help out any creative individual. This process doesn’t have to be confusing if you keep some of the following things in mind.

– How long have you been selling your art?
– What value can you gain in exchange for pricing low and is it worth it?
– How much did you invest in this particular piece?
– What is your client or customer using the piece for?
– What type of venue are you selling at?
– Will you be able to offer prints of the work?
– Are you selling on your own or through a gallery that takes a commission?
– How often do you sell a painting?
– How many pieces have you sold in the last year?
– What is this painting worth to you?
– Are you too attached to this painting to really sell it?

The answers to all of these questions can factor in to how much you charge for your work. I will get more in depth on some of these topics real soon. If you don’t want to miss out I invite you to subscribe to the feed.