There are a lot of factors for pricing your art to consider. But at the end of the day the best advice I received from an old painting professor in university was “you need to price your art at a price you are happy to let it go with”
This statement from my professor completely changed how I see pricing my art.
I think in the age of the internet it is so easy for artists or any entrepreneurs to look and compare other people’s prices – but it shouldn’t and doesn’t matter!
Although it is easy to compare it shouldn’t be justified.
You need to think about your factors:
- What is the cost for materials to make the art?
- Do you include shipping, taxes, a free gift, custom wrapping, tracking id (all of these extras cost more $$$)
- How much time did you spend on making the art?
- Is it framed or not?
- Do you have a history of sales- if you have a proven record of sales, a large fan base or are known in your region -you might be in demand and are able to charge more
Other things to consider
- Additional fees -like website fees, studio rental, equipment fees like a camera, Photoshop, Lightroom etc.
- Is this your full time job or a side hustle (if it is your full time job you consider paying yourself an hourly wage – not minimum- don’t short change your experience, skills, education and value you bring!)
At the end of the day it is your art you need to price it with what you are comfortable with. If you think it is priced too low then raise it! You have the ability to change your prices at any time!
Remember people don’t need to buy art so the price of it varies hugely – do not compare your prices to the prices of others. Remember what makes your art different is you, your style, your effort, your decisions, your story and the experience that you serve your customers.
You don’t want to undersell yourself – you can always lower your prices and discount or provide a sale but it is harder to drastically raise prices when you started to low in the first place.
Let me know how you price your art or what changes you want to make to your pricing?