Spied this Gallery while having lunch in Capri. You have to admit; this is quite the SLOGAN. Those Italians really know how to spin a phrase! Anyway, let’s talk about PRICING your artwork. Not easy, but here’s my take on it…
ONE OF THE MOST OFTEN ASKED QUESTIONS is how should I price my artwork? My answer was most often…”Uhhhh…”. Even if you’re not Italian, you can take that word out of your vocab. Listen up.
This question is a toughy and there several ways to go about it. Below are suggestions that work for some artists, and at the end I’ll give you the method I personally use.
TIME AND MATERIALS – If you’re just beginning to sell and have little or no sales history, at the very least you should cover your costs (time and materials) it took to create the artwork. You could decide on an hourly rate and multiply it times the time you spent on it, then add on the cost of the materials.
COMPARE – Take a look at the competition, or other artists in your area and see how they are pricing their artwork. Then make a judgement from there. My feeling is, if your work is comparable, your pricing should not be a lot over their price nor under their price (which sorta makes buyers think your work isn’t as good or worth as much – and it IS worth it. Don’t forget that and don’t be shy about asking a fair price!)
DON’T BE EMOTIONAL ABOUT IT – Yes, some pieces are dear to our hearts. If that’s the case, perhaps you’d rather not sell it? Selling our pieces is a business and if we’re going to compete and survive we should maintain a business attitude about it. This means don’t charge more for one of those pieces that may have special meaning to you. Consistency is key to building a reputation.
MY FAV – I like this method because it’s the most consistent and works for any size. If the piece is larger, the price adjusts accordingly. Choose a price per square inch. Yes, you heard me, per square inch. No, I’m not going to tell what my rate is, but let’s use $1.20 for example.
Your artwork is 10” x 11”. So, you multiply 10 x 11 to get the number of square inches, which equals 110 sq. inches. Now, just multiply again by the price per square inch, which is $1.20. 110 x 1.20 = $144.00. Simple! But let’s try it again so I can be sure you got it:
- Artwork is 16 x 20
- 16 x 20 = 320 sq. inches
- 320 sq. inches x $1.20 = $384.00. Sell it for $384.00
No more fumbling around for a price. You know what your rate is and you can quickly come up with a price whenever you are asked (might need your cell phone calculator, I admit). And this is the price you use wherever you sell – galleries, Facebook, friends, the White House.
I hope this helps, as it was something I personally struggled with for quite some time. Now, though, I’m at peace. 🙂 So, peace be with you and all of that! Thank you so much for reading.