How to establish the price of my works?
There are 3 ways to set the price of your work:
The cost method
You calculate the actual cost of producing and selling your work to set its price
- Total raw materials used
- Total expenses
- Total Miscellaneous expenses
- Your remuneration
- Commissions (Agents, galleries ...)
- Add all the above and you get a consistent estimate of the final price of your work!
The comparison method
Compare your works with other artists in the same range/type of works and make an educated average. Your prices should match artworks by artists with a similar level of experience and technique.
Get a certified artist value rating
Once you have established your prices with one of the previous methods, you can order an artist value certification (Recommended). It is the safest method recognized by professionals. To get your certified artist value, go to: My Account > Presentation > Certification.
How to price my works if I have never sold anything before?
Pricing art can be hard for an artist who has never sold anything before. Here are some steps and things to think about when deciding how much to charge for your art:
Do market research. Look at the prices of similar works of art by artists with similar skill levels, styles, and experience. Check out online galleries, local galleries, and art fairs to see how much similar artworks cost.
Think about the costs. Figure out how much the materials, tools, and any other expenses will cost. Don't forget to add the cost of your time.
Think about how skilled and experienced you are. If you are just starting out, you might price your work lower than more experienced artists. But don't put too little value on your art. As your skills get better and you become more well-known, you can raise your prices to match.
Size and complexity: Larger and more complicated works of art usually sell for more than smaller, less complicated ones. Think about how big and complicated your art is compared to other pieces on the market.
Pricing strategies: You can choose from different pricing strategies, such as charging per square inch or linear inch, setting a flat rate for each piece, or using a tiered pricing system based on size, complexity, or medium.
Be flexible: Be ready to change your prices based on how people respond to them. If your art isn't selling at the price you set, you might need to drop it a little to get people to buy it. On the other hand, if your work sells quickly or gets a lot of attention, you might want to raise your prices.
Remember that pricing is something you have to learn, and as you get more experience and exposure in the art market, you may need to make changes.