How to set the right price for your artwork
As creatives, we absolutely love what we do. Part of the reason we started a journey of becoming a professional artist, is being able to do what we love day in day out. But when starting out as an artist, pricing can be very tricky, and fearing it can easily keep you away from getting the results you desire. We’ve all had to struggle with it, but with keeping in mind the factors listed below, you should be well on your way to realistically pricing your artwork.
Print or original?
Creating prints from original artwork is a very good idea when marketing to an audience with a smaller budget. The pricing of a print can be way less than the pricing of an original work of art; because of the latter there is only one, and prints can be reproduced. The average price of a high quality print usually runs around $15 to $25 a piece. Create prints from your originals to market your art to a different audience than you normally would and get the word of mouth going.
Most artworks require the heavy use of professional materials. When creating a piece for the purpose of being sold, you should aim for high quality materials and add the use of them to your prices. How many times a week, month or year are you buying new materials? Calculate the use of them and spread the costs out on your pricetags.
Make sure to give yourself an hourly wage, just as any other freelancer would when determining their price for professional services. Remember: you are a professional and people are not only buying the product, but they’re buying your time as well. When first starting out, pay yourself a wage of around $20 an hour, but quickly raise your prices as you gain experience and popularity.
The amount of years you have been practicing your profession should greatly affect the prices you set for your artwork. Also consider degrees you’ve earned and courses you’ve taken, as well as press mentions, exhibitions and publications. You are your own boss, so allow yourself raises as you accomplish great results throughout your artistic journey.
When determining the value for your artwork, consider how unique it is. Are you using techniques that you invented yourself? Could anyone else be doing this? Chances are that when you are the only person in the world using your methods, buyers will be willing to pay you a lot more for owning this unique piece of art.
Your emotional connection
Don’t let pieces you emotionally connect with go too easily. Price a piece you greatly love in a way you wouldn’t feel too bad when selling it to someone else. Tag it with a price you could use to invest in something you love or you have been desiring for a long time – replacing letting go of the piece with something else you emotionally connect with.
To learn about how to increase the value of your work and sell your creations for more than you are currently doing, make sure to check out the launch of the Work Your Art academy in the get started section and claim your earlybird discount before we launch in a couple of weeks. Good luck!