Help Me With Art Pricing (Please!)

[kpckpc]

I've just recently been asked to sell some of my artwork and I'm stuck on pricing. I'm hoping that someone who reads this will be able to help me out.

How does one determine pricing for their artwork? What factors are most importantly taken into consideration?

I don't want to oversell myself at all, but I definitely don't want to overprice my art. Here is what I have done...

Both of these are currently unfinished.

Any help is greatly appreciated. How much would you pay for one?

[dbclemons]

How are you going to be marketing them? Online directly, or through a gallery (or both?)

[kpckpc]

How are you going to be marketing them? Online directly, or through a gallery (or both?)


I'm showing them in a fashion show coming up at the Arkansas Art Center. But I've been asked to sell them to several people and have agreed, but I haven't agreed to a price and I'm so lost at where to begin.

[otis]

LOL!!! I'd pay nothing for them. J/K! Seriously you can't ask others what to price your work for! Don't measure your prices on speculation, greed, and most of all don't let your ego price them. There is no science or formula to pricing art.

If you are an "unknown artist" which it sounds like you are...you better start low. If you ever amass any sort of demand for your work in the future, the marketwill dictate your prices, not you.

[kpckpc]

thanks , youre so kind :) all im asking for is advice on how to price art. im obviously a rookie and have no experience in pricing it. i was hoping there would be someone who has been in my situation that would be able to give some thoughtful advice on how to agree on a price. thanks

[That fat kid]

Get paid for your time and your materials, at least. You may not actually make much of a profit, but make sure you aren't in the hole for someone else's gain.

[Meloncov]

Start as low as you can afford, than consistently raise your prices until your not selling stuff anymore.

[dbclemons]

Every artist that has sold anything is where you are now. There's no blue book like with cars. It's whatever you can get for it. You could compare your work to what others in your particular market charge, but that can vary wildly, and they may not be selling well. The people that buy art, buy it because they want that thing. You can't control that. A reasonable approach might to be just charge slightly more than your material costs. You'll likely undercut the price of your own efforts, but that can rise as you make more sales.

I have good friend who sells his produce at a local farmer's market. His tomatoes aren't much different than the next guy's, so he mostly goes by lowest price he can afford and by volume, trying to make them look as delicious as possible. If he priced by the actual amount of time and effort, no doubt they'd be more expensive, and likely not sell as well. What usually makes for a good day, he's told me, is the amount of people at the fair. Deals are made at his stand all the time. "I'll thow in some extra carrots" or whatever, just to make a happy customer so they'll want to return.

Since your selling them yourself, you have more leeway in setting the price. A gallery may have more restrictions based on their other artists and clientelle. It's also helpful in that you have people already interested in what your doing. Take advantage of it. :)

[Seedling]

How many hours did you spend on the piece? How much would you like to make per hour? How much did you spend on materials?

[kpckpc]

Every artist that has sold anything is where you are now. There's no blue book like with cars. It's whatever you can get for it. You could compare your work to what others in your particular market charge, but that can vary wildly, and they may not be selling well. The people that buy art, buy it because they want that thing. You can't control that. A reasonable approach might to be just charge slightly more than your material costs. You'll likely undercut the price of your own efforts, but that can rise as you make more sales.

I have good friend who sells his produce at a local farmer's market. His tomatoes aren't much different than the next guy's, so he mostly goes by lowest price he can afford and by volume, trying to make them look as delicious as possible. If he priced by the actual amount of time and effort, no doubt they'd be more expensive, and likely not sell as well. What usually makes for a good day, he's told me, is the amount of people at the fair. Deals are made at his stand all the time. "I'll thow in some extra carrots" or whatever, just to make a happy customer so they'll want to return.

Since your selling them yourself, you have more leeway in setting the price. A gallery may have more restrictions based on their other artists and clientelle. It's also helpful in that you have people already interested in what your doing. Take advantage of it. :)


Thank you so much for your advice!

[otis]

Ok...try to find out how much the gallery's customers / clients typically pay. If you do go through a gallery , keep in mind they will be selling your work at a retail price. (typically 100% mark-up from what you want to make.) This is typical when you sell anything through a store.

If you sell the work yourself..ALWAYS price you work at RETAIL. Never undercut the galleries or stores who sell your work.

[Qitsune]

I recommend this book:How to Survive and Prosper as an Artist: Selling Yourself Without Selling Your Soul (http://www.amazon.ca/gp/product/0805068007?ie=UTF8&tag=studqits-20&linkCode=as2&camp=15121&creative=330641&creativeASIN=0805068007) it has a section on pricing and the other info should be of interest to you as well.

[kpckpc]

thanks everyone for your advice. i just sold my first one last night for $375.

[TASmith]

Hey, as a former Arkansan, I'm curious. How's the art scene in Arkansas these days?

[deliciouspeter]

I think the $200-$400 is a good range, and since you just sold one, you probably should keep it around there for now.

You want your buyer to value the piece they just bought. I made the mistake of lowering a price to someone who was interested and their interest level dropped as well. Take pride in your work, recognize that it has value and stick to it.

Like Otis said, keep your price consistent, even though the gallery takes a commission, and don't make side deals with a customer if you are showing in a gallery.

Also you owe me 10% for this advice.