What Is the Size of Design Art Glowing Planet on Wrapped Canvas
Pricing artwork is ane of the most complex tasks that emerging artists face, peculiarly when they beginning begin to work with galleries and start to found their fine art business organisation. It's easy to see by reading fine art business articles and books on art marketing that the opinions of the experts on how to price your artwork vary.
To make it even more complicated, nosotros artists sometimes price with our emotions. Some artists overprice their piece of work in order to impress viewers, hoping to make the artwork look more valuable. Sometimes this works, simply unremarkably only when the collector is naive or when the artwork is spectacular and gets the attention of serious collectors.
When I price with my emotion, I tend to lower my prices because I feel deplorable that the collector has to spend so much. Now, don't become on me for this … it's the truth. I'chiliad an empathetic type, but I need to be conscientious to not price my work based on how I feel most it or collectors. In other words, I need to await at how to sell and price my artwork objectively.
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Putting emotions aside, let me share a uncomplicated formula that many of my professional creative person friends have used when showtime starting to sell their piece of work. I notwithstanding utilize this formula. Think that the price of your artwork reflects your position and reputation in the art-selling world more than than what your art looks like. If y'all're relatively unknown to collectors and don't take many credentials y'all really can't go the same prices as artists who practise take won competitions or shown in galleries.
When you lot're first starting out, information technology'southward a good idea to make your piece of work as affordable every bit you can while beingness able to make a small turn a profit. Don't charge then piffling that you lot don't break fifty-fifty. Remember that galleries frequently accept a 50 per centum commission from sales, so you'll have to take that into consideration.
Price Your Artwork with this Formula
i. Multiply the painting'due south width by its length to arrive at the total size, in square inches. And so multiply that number by a set dollar amount that'south appropriate for your reputation. I currently use $6 per foursquare inch for oil paintings. Then calculate your cost of canvas and framing, and then double that number. For example: A 16"-x-20" oil-on-linen landscape painting: 16" x 20" = 320 square inches. I toll my oil paintings at $6 per square inch. 320 x vi = $i,920.00, and I round this down to $1,900.
two. My frame, sail and materials cost me $150.00 (I buy framing wholesale). I double this cost so that I'll get information technology all back when the painting sells at the gallery. Otherwise, I'm subsidizing the collector by giving him or her the frame for gratuitous. $150 10 2 = $300.
3. Then I put it all together: $ane,900 + $300 = $2,200 (the retail price). When the painting sells from a gallery, my cutting subsequently the 50 percent commission is paid comes to $950 for the painting and $150 for the framing, for a total of $one,100.
For much larger pieces, I'll bring the price per square inch downwardly a notch … perhaps a dollar or two lower then that I don't price my work beyond what my reputation can sustain. Alternately, for smaller works, I'll increase the dollar per square inch because pocket-sized works accept nearly as much attempt equally larger works, and I need to be compensated for my expertise, even when the work is miniature.
This is non the simply way to price your artwork, merely it'due south 1 that keeps my prices consequent. Keep in heed that my prices were much lower 10 years ago when my artwork was relatively unknown to collectors. It's important to notation here that when I take a swell selling year, I raise my prices past 10 percent. When the economy is poor or my sales are irksome, I don't raise prices at all.
I hope this will give you a identify to start. If you're but selling at local outdoor shows and are entering the art market, I would suggest that you keep your dollar amount much lower than mine. I've been selling my work for fourteen years. At that place are ways that I could increase the worth and therefore the price of my art, but I'll talk nearly that in a later blog post.
- Lori
Lori Woodward is a talented artist who not only sells paintings, merely creates informational blogs for the art customs. To acquire more from Lori and read more nearly working as an artist, visit her website, here.
Source: https://www.artistsnetwork.com/artist-life/a-simple-formula-for-pricing-artwork/
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