Pricing your Artwork
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As an artist, you will know the craft like the back of your hand, but pricing your artwork for healthy rates may put you at a disadvantage in the client competition. Pricing can be difficult and somewhat personal. This article discusses a few handy tips for pricing your work, though the final decision is inevitably yours!
Step 1: Research comparable work We have a vast source of data on setting healthy working rates for both sides of the story; the internet. It's time to get your typing and scrolling fingers out and begin searching for task prices that are comparable to your own. Honestly evaluate yourself. Don't look at work that you know is worth more or less than your own. What are the prices for these artists' work? Is there a pattern here in terms of pricing? Seeking out similar artists' work will give you a better idea of what you can and should charge.
Step 2: Price consistently When you find a price margin, don't stray too far away from it because it will create a tense relationship between you and previous clients. It's pointless to price your work professionally from $10 an hour to $150 per hour. Consider your competitors' prices as well, and try to get a good deal for both sides to result in a good, well-priced commission. Although, this doesn't mean you always need to stick your prices exactly as you proceed with your future.
Step 3: Have multiple price points Some newer customers may be put off by higher-priced artwork because smaller, less expensive work is more approachable. You must consider your target audience. For example, a young client may not have the funds to purchase a $5,000 piece of art but may be able to afford a $250 painting. Prints are a good way to stay cost-effective on your behalf. The client will still get a taste of your creativity, which may lead to them purchasing your higher priced art in the future because they remember you.
Step 4: Confidence in your pricing Have a lot of confidence in yourself, whether you sell a lot of your work or are new to the market. If you don't have confidence in your pricing your potential clients will be able to figure it out. If someone asks you why your prices are what they are, you should give an educated response and provide evidence to back up your claims. Show them, for example, that other clients are buying your work and that your prices are comparable to online data.
Thanks for reading!
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