Whether you’re trying to make a living as an artist or simply looking to make some extra cash, selling your artwork is all about choosing the perfect price. It can be difficult to select a price that respects the value of your art and the time you spent to create it without alienating your potential customers. Keep reading to learn some practical tips for pricing your art.
Dos and Don’ts for Pricing Your Artwork
Before getting into the details of how to choose the best price for your artwork, it’s helpful to think about some of the biggest mistakes new artists make. Here are some of the top dos and don’ts for pricing your artwork:
- Don’t undersell yourself. It takes time to create art, so don’t drive your price down for the sake of making a sale if it means undervaluing yourself and your work. Consider your time as well as the cost of materials in choosing your price.
- Do research comparable artists. If you have no idea where to start when pricing your work, take the time to research some comparable artists and look at their pricing.
- Don’t offer different prices. If you’re selling art out of your studio and in a gallery, make sure you keep the prices the same between the two. If the gallery finds out you’re selling work at a discounted rate, they may be less inclined to work with you in the future.
- Do have the confidence to stand your ground. Once you set a price, have the confidence to stick to it. If you make a habit of lowering prices, your customers will catch on and the value of your work could go down.
- Don’t let your emotions interfere. It’s difficult not to form emotional attachments to your work, but make sure that your prices reflect the value of the work itself, not its personal value to you.
Knowing what not to do is just as important as knowing what to do when it comes to pricing your artwork. Keep reading to learn more about choosing the perfect price.
Tips for Choosing the Perfect Price
Before you even think about choosing a price for your artwork, you need to know two things: your work has value and you deserve to be paid for it, and someone out there will be willing to pay a reasonable price for your work. With these things in mind, here are some tips for choosing the perfect price:
- Give yourself an hourly wage. If you’re just starting out, it might make the most sense to price your work according to the length of time it took to create.
- Factor in the cost of materials. Whether you’re working by an hourly wage or not, make sure to factor in the cost of materials and other expenses to create the piece.
- Don’t forget about commission. If you’re selling work through a gallery, know that they will take a commission on the sale, so you might need to increase the price accordingly.
- Think about the size. It only makes sense that larger pieces cost more than smaller pieces, depending on the medium and style. Some artists price their work by the square inch.
- Don’t use price to determine value. Just because you price something at $200,000 versus $200 doesn’t mean it is worth that price. Your work should stand on its own merits.
When it comes to pricing your artwork, you have to walk the line between finding the price someone will pay and choosing the price you think you deserve. It is a fine art that you’ll have to learn over time, so expect a few hiccups along the way!