How to Price your Paintings (3 easy ways)Method 1: Square inch x INR amount +materials cost Multiply the width and length inches of your artwork. …Method 2: (Hourly wage x Time spent) +Cost of materials Multiply the Charge you decide for an hour of your work to the amount of time spent in completing the painting. …Method 3: (Length +width) x INR amount …
How much should I Sell my paintings for?
It depends on your experience and reputation. An experienced artist selling in galleries might charge $8+per square inch, while a new artist might start with $3 or $4 per square inch. Example: An 11 by 14 painting has 154 square inches: multiply by $3 (462), then add twice the materials cost ($80 x 2), and you get 622.
How to sell paintings for millions?
Before You Try to Sell Your Art,Know These ThingsWhat should you charge when you sell your art? This is the most common question I hear. …Is your skill level worthy of the price you are charging? …Be sure to get your commission in writing. Protect yourself. …Get a deposit. Not everyone will like your work. …Make sure to have the contract signed when preparing to sell your art. …Seek out legal advice.
How to sell paintings and make money?
How To Make Money With Digital ArtSell Them To Websites. One of the easiest and most common ways you can make money with your digital art is by selling them to websites that provide digital art …Conduct A Digital Art Class. …Offer Social Media Services. …The Verdict. …
How to price your fine art prints?
You need to take the following into account when working out How to Price Your Art Prints :Cost of Paper for 1 sheetCost of Ink/Toner per size print you are pricing for (this was a rough guess on how long ink cartridges last but obviously different prints would use different amounts of …Cost of Electricity for your computer/printer to produce 1 physical print.More items…
What is the most complex task for emerging artists?
Pricing artwork is one of the most complex tasks that emerging artists face, especially when they first begin to work with galleries and start to establish their art business. It’s easy to see by reading art business articles and books on art marketing that the opinions of the experts on how to price your artwork vary.
How much commission do galleries take?
Don’t charge so little that you don’t break even. Remember that galleries often take a 50 percent commission from sales, so you’ll have to take that into consideration.
How to figure out how much other supplies cost?
If you wanted to figure out how much your other supplies cost per year, you could add up those expenses and divide them by the number of paintings you did and add that number to the retail price. That said, I don’t enjoy math, and calculating every little expense seems overwhelming to me.
How to price an oil painting?
1. Multiply the painting’s width by its length to arrive at the total size, in square inches. Then multiply that number by a set dollar amount that’s appropriate for your reputation . I currently use $6 per square 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 price my oil paintings at $6 per square inch. 320 x 6 = $1,920.00, and I round this down to $1,900.
What happens if you work with a gallery?
Once one is working with a gallery, the gallery price and studio price needs to stay the same… Otherwise the artist undercuts the gallery, and the gallery will drop the artist.
Why do artists overprice their work?
Some artists overprice their work in order to impress viewers, hoping to make the artwork look more valuable. Sometimes this works, but usually only when the collector is naive or when the artwork is spectacular and gets the attention of serious collectors.
Who is Lori Woodward?
Lori Woodward is a talented artist who not only sells paintings, but creates informational blogs for the art community. To learn more from Lori and read more about working as an artist, visit her website, here .
How do you do it?
Let me know in the comments how you price your work! I’m curious how other people do it.
How does square inch pricing work?
Square inch pricing multiplies height and width, then multiplies the total against a set rate.
Why is linear inch pricing easier to stomach?
This is because there is less of a giant difference between a small and a large piece. Square inch pricing results in a dramatic jump from one size to another. A linear inch pricing structure is easier to stomach. It’s also easier to calculate.
What is square inch?
Square inch and linear inch are two different things. Square inch is based on the area of the painting, multiplied by a dollar amount. The linear inch method adds the sides and multiplies by a dollar amount. The problem is when you use the square inch method among a variety of sizes, the bigger sizes are WAY more expensive. The linear inch method doesn’t have such dramatic changes.
What is the problem with square inch models?
The problem with the square inch model is it gets exponentially more expensive as size goes up.
Why do people buy Picassos?
There’s no sales on, nor coupons for, Picassos. And, they don’t sell for $19.95. People buy Picassos for millions because they’re valuable, and that’s what their perceived value is worth. By setting your prices too low people will perceive the value of your art as being low and you will make your art less desirable to buyers.
How much does a 20×16 canvas painting cost?
20" x 16" painting on canvas would sell for $320 per square inch. By the linear inch, an equivalent would be $8.888 per linear inch, $319.968, rounded to $320 for a 20′ x 16" painting on canvas.
How much commission do you get when selling art?
If you sell artwork through a gallery, it will take a commission. (At The Art League, it’s 40 percent to us, 60 percent to you.) Don’t forget to take this into consideration when you price your artwork! You want to make sure you’re still making money after that commission is taken out.
How to price an artist?
Here’s our standard advice for an artist contemplating pricing for the first time: 1 give yourself a fair hourly wage 2 add to that the cost of materials you used and other expenses
What to do with art you sell?
Be sure to keep records of the art you sell! You can use them to back up the prices you quote and when making decisions about raising prices (see below).
How do artists price their artwork?
Some artists price artwork based only on size , either by the square inch or the perimeter. This is easy to explain to buyers, and certainly makes sense if you spend less time on smaller work.
How to increase the value of your artwork?
Setting a price is only step one! Improve your sales with a healthy dose of self-promotion. Telling your story, and your artwork’s story, increases its value. Here are some other blog posts to get you started:
How much do you get paid for 10 hours of art?
add to that the cost of materials you used and other expenses. So, if a piece took you 10 hours to make, you want to get $15 per hour , and the materials cost you $45, you could use $195 as your starting point (10 times 15, plus 45). Cost of materials would include your canvas, paper, paint, ink, and so forth.
Is pricing artwork a last minute decision?
For first-time exhibitors, pricing artwork is often a last-minute, difficult decision . It’s daunting to assign value to your own work, and beginning artists often tend to err on the side of under- or over-pricing.
How much discount do you get for selling art?
If you sell your art online perhaps you have seen some newsletters of selling work at 20% discount. Online marketplaces charge 40% commissions so this 20% discount won’t affect your payout. But online people are more used to have larger discounts, so I would say giving a 20% discount on your own website, just twice a year is still a reasonable thing to do.
What is the rule of pricing a product?
In business school, we learned that one of the most classic rules of pricing a product or a service is ‘cost + margin’. You might have seen this formula somewhere before:
How to price art for the first time?
If you are pricing your art for the first time, I recommend calculating all the production costs as your baseline price (the lowest price you should be charging). After knowing how much it cost you to produce your works, you can decide on the margin you wish to add later on.
What are the things you need to make an art project?
This is the most obvious: paint, canvas, frames, and anything that are essential to the making of your art. Also consider the equipment you need, such as easels, projectors and computers. They are not consumed immediately but they do break down slowly. You can amortize each year according to the asset’s lifespan.
How often can you give discounts to art galleries?
You can give seasonal discounts, 4-5 times a year at most. But you shouldn’t do it to the pieces of art that you also consign to the galleries. You don’t want to create a price war against them. What you can do, is to do promotion on special kinds of series, formats, merchandising, that are not sold elsewhere.
What are some examples of margins?
Different margins. In different industries, there are different kinds of margins. For example, in the fashion industry, many clothing stores are getting a 60% margin, and it was considered a profitable business. If you are curious you can go online and see a list of gross margins by sector.
How much does it cost to paint a piece of paper?
You can spend $15 to buy paint, then you paint on a piece of paper, which can be sold at $1500. As you can see, making and selling a piece of your art could be very ‘lucrative’ and hard to demonstrate your rightful earnings as an artist.
How Much Should I Charge For My Art?
Figuring out best practices for pricing artworks is a big challenge for both beginners and experienced artists. And the process for doing so is both subjective and objective, having to align with your own personal interpretation of what your work is worth as well as the market conditions that are driving sales.
How does market conditions affect digital art?
The type of digital art you’re creating, the field you’re creating in, and the type of buyer you’re reaching for will all affect your total price point. In lieu of a set formula, it might just help to look at what your competitors are pricing their work at in comparison to what you want to price at—then find the happy medium.
Why is Dinwiddie so firm?
Dinwiddie says that staying firm with her art commission prices is key to valuing herself as an artist and businessperson and helps her avoid working with clients who she ends up resenting.
How much does a watercolor painting cost?
If you’re just getting started, focus on producing small or medium sized watercolor paintings that you can price low—around $50 to $150.
What is the benefit of art pricing?
The benefit of this art pricing method is that you can modify it based on what you think your time is worth. If you’re pricing a particularly difficult and time-consuming piece, the end price will reflect that. (Though to Pfohl’s point above, it should still be in line with the general demand of your work, since pricing too high might not land you any buyers.)
How to price oil paintings?
One of the most common ways to price oil paintings and other pieces of fine art is the square inch method, with or without material costs included.
How much is 144×3?
Set a price per square inch; for example $3. Here, that would be 144 x 3, for a total of $432, which you’d then likely round to $430.
Why should size be a key factor in pricing artwork?
Size should always be a key factor while pricing your artwork. Small art pieces would call for low prices as buyers expect to make more payments on larger sizes. Ideally, more efforts will be spent on the larger art pieces as compared to the smaller ones, and this should be reflected on the selling price too.
How to sell art to customers?
Let customers know your artwork prices. You can do this by sharing your prices on social media platforms. This way your customers will be able to trust you for your integrity. Usually, some artists tend to charge different rates to different consumers depending on their wealth. This is not a good behavior at all as it will only ruin your reputation and as a result, lead to the closure of your business. It can not take long before customers realize the correct value for such an art. If you are charging different prices for different buyers, they will shift to another seller. Set a standard price for every particular art and be willing to share your expenses to your customers and this way you will be able to hold your customers through your integrity even in the future.
How to determine the size of an artwork?
This method is commonly used for pricing artwork. Usually, one obtains the size of their work by calculating its area in square feet or meters, whatever preference they have. You can obtain the area by multiplying the length of your artwork with its width. For irregularly shaped work, you can use an overlapping stick and measure the length and height.
How to make a profit in art?
Thus, you should not just aim at breaking even but also making a profit. The profit will help you grow and make a name for yourself in the industry. To make a profit easily, ensure that you have artworks at various prices. Thus, every buyer will get a piece that they can afford or ostentatious enough for them. Be open with your prices and they should not be concessionary.
What are the key assumptions you need to make about your work?
Key Assumptions You Need to Make About Your Work. You have incurred some amount of cost to get your work ready and you, therefore, have to set a price for it. Consider these critical assumptions as your starting point. You work value, and you need to be paid for spending the time to make it.
How much do artists make?
The standard wage for a prolific artist is set at $24.60.This can be a guideline for determining your hourly wage. The projected profit added to the cost of the painting is your price. You can add a margin of disparity of US$1-US$5. It is a bright idea to begin at a high rate and cut it down to your expected selling price. This method is pivotal especially when the size of an artwork is not proportional to its price. For instance, a golden ornament would be more expensive than a wooden jaguar carve. Including the cost will ensure that you get the required value for your material.
What is the most challenging problem for artists?
One of the most challenging problems that many artists face, especially if they are new to selling their artwork. It takes time to come up with the right price for your work.
Why Should You Price Your Art Consistently?
Furthermore, established collectors compare similar artists when purchasing work. Consistent, comparable rates build confidence in your work.
When Should You Consider Increasing the Price of Your Art?
If you have consistent sales for six months to a year, or you are selling at least half of your art shortly after finishing it, it is a sign that you could increase your hourly rate.
How to calculate the price of an art piece?
You can multiply the square inch by your personal rate which is how much you wish to earn per hour. Alternatively, multiply your hourly rate by the hours spent, then add the cost of materials. Likewise, sum the height and width, then multiply by your price per linear inch. There are so many ways you can approach art pricing.
Why do galleries prefer to work with artists with uniform price ranges?
Galleries prefer to work with artists with uniform price ranges to avoid underselling work, thu s earning a lower commission.
How to compensate for commissions from galleries?
When working with a gallery, double the total price of your work to compensate for the gallery’s commission. However, use a lower price per inch when appraising large artworks to avoid outpricing your buyers.
How much does digital art cost?
The average rate that beginner artists charge is $10 per hour.
How to standardize the price of artwork?
Standardize the price of your artwork by determining the value per linear inch. This will also be based on your expertise and artform.
1.Why do you want to sell your painting?
This may seem like an odd question but if you are just creating art as a hobby and hoping to sell the fruits of your labour your motivation will be very different to someone wanting to make a living from their sales.
2.How much do your materials cost?
A really good habit to get into from the start is to keep records of everything you buy when you create artwork. I didn’t at first and it created all sorts of problems later on. I keep a folder for all of my receipts (which I number sequentially) and a log book (just a spreadsheet in Excel) to make a note of the following information:
5.How much does it cost to package and post your artwork?
It’s a fact that everyone loves getting something for free. It’s also a fact that nothing is ever really free!
6. How to value your artwork – pricing your painting
Okay, this is really what you wanted to know, isn’t it? As promised at the start, I’m not about to direct you to some random website with a secret formula that you’ll have to pay for. Nor will I insist that you have to sign up to my exciting newsletter to learn my secrets – although I’d love it if you did sign up below and become a subscriber!
7. Are your prices reasonable and realistic?
The final thing I do with my painting prices is check them with similar works online. This is relatively easy to do with Etsy because you can search for paintings in your similar style, size and media. Then look at the sellers.