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  • Digg it UP - Pricing Your Artwork - What To Do, What To Do

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    t of materials. The cost of labor is the actual time spent in creating your image (product). Determine a value for your time $25.00 - $100.00 per hour. Add the cost of materials to the value of y
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    Do you know the value of your work and how to price it? Probably not. As a publisher, distributor and consultant in the art world, I have personally reviewed the work of thousands of artists over the last 30 years. In all of that time only a handful were able to say, “Yes” to that question. Pricing art is actually not that difficult. It is basically no different than pricing any other product. The problem with artists pricing their own work is that they generally don’t view their work with the same eyes that other businesses do. This is because they are emotionally tied to their product.

    Let me make it simple and easy. First, you have cost of materials. Second you have cost of labor.

    Such items as paint, brushes, canvas, and other supplies becomes your cost of materials. The cost of labor is the actual time spent in creating your image (product). Determine a value for your time $25.00 - $100.00 per hour. Add the cost of materials to the value of yo

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    the last 30 years. In all of that time only a handful were able to say, “Yes” to that question. Pricing art is actually not that difficult. It is basically no different than pricing any other product. The problem with artists pricing their own work is that they generally don’t view their work with the same eyes that other businesses do. This is because they are emotionally tied to their product.

    Let me make it simple and easy. First, you have cost of materials. Second you have cost of labor.

    Such items as paint, brushes, canvas, and other supplies becomes your cost of materials. The cost of labor is the actual time spent in creating your image (product). Determine a value for your time $25.00 - $100.00 per hour. Add the cost of materials to the value of y

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    product. The problem with artists pricing their own work is that they generally don’t view their work with the same eyes that other businesses do. This is because they are emotionally tied to their product.

    Let me make it simple and easy. First, you have cost of materials. Second you have cost of labor.

    Such items as paint, brushes, canvas, and other supplies becomes your cost of materials. The cost of labor is the actual time spent in creating your image (product). Determine a value for your time $25.00 - $100.00 per hour. Add the cost of materials to the value of y

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    ir product.

    Let me make it simple and easy. First, you have cost of materials. Second you have cost of labor.

    Such items as paint, brushes, canvas, and other supplies becomes your cost of materials. The cost of labor is the actual time spent in creating your image (product). Determine a value for your time $25.00 - $100.00 per hour. Add the cost of materials to the value of y

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    t of materials. The cost of labor is the actual time spent in creating your image (product). Determine a value for your time $25.00 - $100.00 per hour. Add the cost of materials to the value of your time and you have a starting price.

    What you can do next is to take that price and check comparables. Comparables are works similar to yours in size, style or subject. You obtain comparables by going to actual or online galleries, trade shows, fairs or festivals.

    An interesting exercise would be to apply this to previously established pricing for your work, and compare it to the formula provided above.

    What should an artist do about “Wholesale vs. Retail?” First of all it is important that you fully understand the difference. As the manufacturer of your product, you are the one who needs to establish both retail and a wholesale price for your art.

    The retail price is the asking price to consumers or collectors – the person purchasing your work

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