Pricing of an Artwork

One of the most important challenges for artists to sell their artwork is pricing their artworks. Any artist for pricing should be able to answer these two questions: 

How to value the artwork? 

Why does she chose this pricing method? 

Therefore, it is essential to follow the principles and procedures of the pricing process.

If you are among those who are new to the art sales market, then some basic pricing methods for artwork are outlined below.

1. Compare the price of your work with the price of works by other artists.

Find out in the art market or online sales sites for artworks at the same price and compare your works as they are. Note: When comparing works, pay attention to factors such as the size, shape, materials and achievements of artists such as awards, venues, press, media, etc., as these affect the pricing. Do not forget to search for the sold art only and compare with your works and avoid comparing the artwork still not sold.

2- Look at factors like time, energy spent on materials and cost.

Consider various factors such as time, energy, and the cost of materials used when pricing. Calculate the time taken to create the effect, consider a reasonable price for each hour and add it to the price of the materials used. If you want to sell your work on several channels or in different ways, note that the price of the work should be the same across all channels. Also, proportionality in pricing must be respected, for example, the larger effects should have a higher price than smaller ones. Try to have diverse works with a wide range of prices, as if one could not buy a great work, it could produce a lower-cost product. You can always increase your prices for solid reasons when you sell a few works. It is better to record the total sales and the price of each sale. Selling the effect at a lower price is better than not selling because of the high price. In addition, selling at a lower price at the start of your work will make your works visible and earn a reputation. At the time of sale, the artist is responsible for packing artwork for delivery and shipping. So the cost of packaging material should also be included in the price.

3. Consider the cost of packaging very large.

It may be necessary to use a wooden box for larger artworks. So if for professional Artwork, boxing was needed, it might cost up to $ 50. In such cases, it is better to first estimate the total cost of packaging, and then add it to your total cost when pricing your work.