Multiply the width of the painting by its length to get the total size, in square inches. Then multiply that number by any fixed dollar amount. This isn't the only way to price your artwork, but it's the one that keeps my prices consistent. Keep in mind that my prices were much lower 10 years ago, when my artworks were relatively unknown to collectors. It's important to note here that when I have a good sales year, I raise my prices by 10 percent.
When the economy is bad or my sales are slow, I don't raise prices at all. I hope this gives you a starting point. If you only sell at local outdoor shows and are entering the art market, I suggest that you keep your dollar amount much lower than mine. I have been selling my work for 14 years. There are ways in which I could increase the value and therefore the price of my art, but I'll talk about that in a later blog post.
When the economy collapses and sales decline, keep prices the same and offer incentives to your loyal customers. Retail price of a gallery = (100 multiplied by your price) divided by (100 minus the gallery commission) Artists who sell in galleries usually create a coherent work before entering the gallery; the same is true for outdoor exhibitions or at any other place of sale. When you have about 10 dynamite paintings that appear to have been painted by “you”, it's easy to set a price range and start selling. Lori, I like the square inch method to a certain extent.
I make graphite drawings that require between 30 and 150 hours of work to complete. So I think there are times when you should use another equation: “time spent”. I have seen painters finish a painting in 2 hours or less and still charge a certain amount in dollars, he earns $100 an hour, while I earn 2 to 15 dollars an hour. So what are we willing to value ourselves on? It's a difficult question for a work of love, but it's good to be worth something.
Lennie A lot of galleries were closed in Scottsdale last year. Legacy Gallery manager says it receives more than 100 artist submissions per month. He watches them all, but he has about 60 artists on his favorites list. Nowadays, your work has to be extraordinary to reach the most important markets, and winning prizes in national competitions helps places with the highest visibility to take a second look.
With all the time, creative effort and emotion you put into your work, it's easy to get attached to it. Take a step away from your work after you finish it to gain some perspective. Then, approach your pricing as you would any other product. Some artists like to use a size formula. The price of your work should be based predominantly on your physical attributes and not on personal value.
You can set the price per square inch or per linear inch. You keep adding the width and height, and then you multiply them by something, but in the end there's a big difference. I'm not a professional artist, but most seem to set the price of their paintings per square inch. They develop an idea of what their work can offer in a very competitive market and set prices for each size of work. If it is a local gallery, the prices must reflect the other works in the gallery; if it is a gallery in Scottsdale, the prices must also be in line with those of that gallery. When hiring a professional painter, a good place to start is to ask friends or neighbors for recommendations.
If you've ever wanted to give your home a new, fresh look, but need help getting started, a professional painter can help. I varnish my watercolors or sell the unframed work for a reasonable price and let the buyer frame it himself. On the other hand, when you master a discipline, it may take you much less time to complete a work and you can demand a much higher price for her. I've always done exactly what you said about researching the market to increase the quality of my work and price it in a way that made sense.
Remember to take into account the cost of the frame and any commission from selling the gallery when setting your prices. Regardless of the medium you use and the quality of your work, it's difficult to establish a price range. Last year I gave some refresher talks at Oil Painters of America and at an art marketing workshop in Scottsdale, and since then the ways of selling art have changed a bit. A professional painter is experienced with the products and tools needed to complete your project quickly and efficiently. I think that selling something cheap hurts your brand in general, so personally, if it's not good enough to get a good price, I won't put it up for sale,,.
Entering high-visibility galleries is a dead end. Selling on your own is much easier and a good starting point, but your prices are defined by the group of collectors you sell to and your accomplishments. Sudhamai: You could eliminate the thrill of pricing art for friends and family by quoting the prices that other people are charging for the same type of art sold on the street.
