General Forums >> Art and Money >> How Do You Determine Prices for Your Art?
How Do You Determine Prices for Your Art?
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Posted 3 months ago If you are like me the hardest part of my art is determining a price for potential buyers/investors. I am torn because the the art itself is such a part of me that it is so priceless yet I want to share it as a gift that I would give it away. Personally, I hate creating art for hire. Being a graphic designer is an entirely different animal. This post if for Illustrators, Photographers and other non-graphic designers. |
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| Posted 3 months ago You're painting with a broad brush here, my friend! Illustrative work has different kinds of pricing considerations than does an abstract painting. Both of these are far different from photography. To complicate things further, the venue you choose to promote your work will affect the price as well. Example: a 16 x 20 painting may sell for $50 at your yard-sale, $500 at a craft fair, or $5000 in the right gallery... I know this topic has been addressed on this sight a few times, but I cant seem to find a link for you. Maybe someone else can find it, but in the mean-time Maybe you can ask a more specific question? Narrow the scope a bit and I'm sure you'll get better quality feedback. |
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| Posted 3 months ago Ok...The question is how do each of you determine pricing for your own work...I wasnt asking for me personally...I am just curious to see how many use the "system" or do they actually put an emotional pricetag on their work. We have all seen that art buyers buy art based on emotion and rarity. It is one thing to price something as commercial art and entirely different matter to price it out of what you feel it is worth to the perosn interested. Like I said... I was just curious to see how you guys handle it for yourselves. |
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| Posted 3 months ago This might be silly, but I base price off of time invested into a workalong with how close it came to the image in my head. But then, I'm not a huge seller, so I couldn't really determine prices for anyone. |
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| Posted 3 months ago It depends on the piece. If it's something I am very connected to, I'll charge much higher (or I'll create it without the intention of future sales). I've sold a few bits here and there, and it seems to boil down to: price of supplies+$12 an hour for work x reputation. My reputation in the fine arts world is little to nothing, so I reduce the hourly pay variable. To sell, prices have to stay realistic. If on the other hand, you happen to be Cai Guo-Qiang, you could probably expect a hell of a lot more (and thus increase your pay). To get a good feel for your art's price range, put it up on auction. People will decide what they are willing to pay for you. My first sold for $300, of which I collected $150 after gallery and auction fees. But hey, it's a start, right? http://savannaleigh.deviantart.com/
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| Posted 3 months ago here's what I learned in a desgin and production class- (cost of materials x 2) + ($15 per hour of work) + a small percent profit to account for tools, studio expenses the reason you double material cost is to account for lost of materials (I work with silver, which is super expensive, and you lose alot while cutting it). you could adjust this depending on your medium. never pay yourself less then $15/hr and keep good time logs. remember that this is the wholesale price, and if a gallery is going to take 40%, you must account for that in your retail price. ex. if I have a ring that I need $60 for to cover materials, profit and my pay, I need to price it at $100 at my gallery. I hope that's clear....if not, send me a message, please. good luck doing the math, I know it's annoying. |
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| Posted 3 months ago I would recommend keeping your "direct sale" prices at or near gallery asking prices. If you don't, galleries will not want to do business with you. Why would a customer buy your ring from the gallery at $100, when they can get the same thing from you for $60? If its $100 either way, then the gallery stands to make a buck. Doing this also gives you the advantage of having some "wiggle room" for direct sale customers that want to haggle a little (just a little!) , AND it gives customers the impression that you have confidence in what your work is worth. |
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| Posted 2 months ago put a price to your hour of labor, the cost of materials to use twice and a small percent for other expenses light gas if you need to travel to do your art or electricity for your studio......... |
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| Posted 2 months ago selling my work is my only source of income. if i spend over 30 hours on a piece, i'll charge about $50 an hour if its something under 30 hours i look at material costs first |