Tips On How To Price Your Artwork


August 21, 2017 Facebook Twitter LinkedIn Google+ Paintings


Tips For Pricing Your Paintings

consider these things when pricing your paintings

  1. Know Your Place As An Artist
  • Talented / Amateur / Unknown (Lowest Price)
  • Professional Unknown
  • Professional  – known Throughout The Community
  • Professional  – known Throughout The State
  • Professional  – known Throughout The Country
  • Professional –  known Throughout The World (Highest Price)

 

  1. Your Audience (Class Of Buyers)
  • Wealthy Class  $100 – $10,000,000.00+ (Pay The Highest)
  • Upper Class $50 – $250,000
  • Middle Class   $50-$5,000.00
  • Lower Middle Class   $10-$2000.00  
  • Lower Class  $3-$100 (Buy At Goodwill, Garage Sales, Flea Mkts, Thrift Shops)

 

  1. Economy
  • Wealthy Class (Buys more investment art when economy drops)
  • Upper Class  (Buys more investment art when economy drops)
  • Middle Class (Buys less art when economy drops)
  • Lower Middle Class (Not buying much art when economy Drops)
  • Lower Class (Not buying art when economy Drops)

 

  1. Selling Location
  • Galleries & Exhibits (Low overhead, Limited exposure, Pay only when you sell)
  • Auction Houses (Low overhead, Limited exposure, Pay only when you sell)
  • Shows & Festivals (High Overhead, Limited Exposure, Pay even if you don’t sell)
  • Consignment Shops (Low Overhead, Limited Exposure, Pay only when you sell)
  • Online (Lowest Overhead , Best Exposure, Pay only when you sell)

 

  1. Type Medium Being Sold
  • Oil Paintings (Pays Highest)
  • Acrylic Paintings
  • Water Color Paintings
  • Pastel Paintings
  • Drawings (Pays Lowest)

 

  1. Search Prices of Similar Artist
  • Search Similar Artist with the same artwork in the same stage of their career.

 

  1. Price By Size and Inch.
  • Example #1: An oil abstract painting that’s 25″x 15″ = 375″ if you sold your work at $1.00 per square inch, your price would be $375.00 for that painting. You could have a standard price now according to size and medium.
  • Example #2: A Custom Family Portrait Oil Painting size 52″x 40″ Unframed, = 2,080″ if you charged $1.00 per square inch, Your Painting Price would be $2,080.00

 

  1. Don’t Under Price or Over Price.
  • Don’t Lower your price to match the price of an artist that is selling their art way below what the art is worth.
  • Artist selling their art way below value, will eventually become a real “Starving Artist”.

 

     9. Ask Yourself

  • How Much Would I Pay For This Painting.                                                                                                                                      

 

     10. Supply & Demand

  • Never Lower Your Prices – Shows Your Desperate To Sell
  • If all your artwork is selling slow – keep prices same
  • If all your artwork is selling good  – keep prices same
  • If some of your artwork is selling good  – keep prices same
  • If some of your artwork is selling fast  – keep prices same
  • If all your artwork is selling fast – Time to raise your prices

 

 

 

 

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