Post 570: Artists Pricing Their Artwork Fairly

Artists Pricing Their Artwork Fairly

There is a lot of advice on the subject of pricing your artwork, even on this blog. Yet the question is an often asked artist to artist topic of conversation, and often very misunderstood. Some artists go into it pricing way to high for their experience level, some sell out everything they have because their prices are way too low for the quality of their work. It will probably always be an ongoing issue for artists, but perhaps, the discussion here will help you know where you are on the radar.

The Artist Pricing Myths

So you have decided to create some art and want to sell it. But for how much? There are misunderstandings by some artists AND by some art lovers, and would-be collectors, that mistakenly think:

• All artwork is expensive. 
• Artwork is a luxury item. 
• Being an art collector is for the well-to-do.
• Art is expensive because artists have overpriced their work. 
• My art is so beautiful, it will sell itself.
• My art degree means I can price my art above the little people.
• I'm the true meaning of starving artist. 
• Artwork prices appreciate over time. 
• Emerging artists aren't worth investing in. 
• Artwork value goes up once the artist is dead. 

These misconceptions can all be debunked, thrown out, stomped on, and kicked to the curb.

Art Pricing Truths

• All original art is the product of a combination of skill, creativity, and of labor that definitely deserves fair compensation for that artist's efforts.
• Art in a gallery will be priced higher than in a non-gallery event or location, such as a festival, a library, or popup show. One reason for this is that the gallery is charging a much higher commission, so the location of the gallery, the city or town will also affect the price of the art that is on display. This could be as high as 30 - 60% of the price on the label.
• Other factors of major importance, is the reputation of the artist. How well-known is the artist, do they have a strong following? Does the talent and ability of that artist display strongly in their body of work? How unique is their art and presentation?
• Artwork prices go up for the artist by demand. Selling out your collection means prices can and should go up - (usually) gradually. 
• Don't wait to be discovered. Do the hard work of pounding the pavement to be seen. 

I've met artists that charge per size of canvas, no matter the complexity of the art and materials and I've met artists that go with Cost of Materials plus Hourly Rate times Hours Spent. But to get an awareness of where to even begin, start with these baby steps in your GPS (General Pricing Strategy):

Track your Costs in detail:

• Keep track of the Time put into each piece and size of work you do.  
• Include the prep work on computer, on paper, designing, sketching.
• The actual time spent painting, manipulating, creating that art into the end product. 
• Keep track of the Expenses of each artwork and materials used to create it.
• Costs of canvas, surface used: board, panel, paper.
• Costs of paints, varnish, gesso, specialty items/paints like gold leaf.
• Watercolors and Acrylics may have different pricing than Oil paintings which are the more expensive medium. 
• Cost of framing, mat boards, backing boards. 
• Hardware: Wire, D-Rings 
• Overhead Costs like marketing, packaging, utilities, studio rental, shipping, website and hosting fees and gas/expenses to get there. Shall I include insurance?
• Prices charged for Calls for Art, show entry fees.
• Commission fees are also taken out of an art sale which can vary as well so an artwork will need to be priced so that YOU get out of the sale what you want to get paid for the artwork, less the commission charged to you to show it there.
• Do the Research! Look around at art similar to your own and sized similarly. You are not comparing your work, you are getting an understanding of price points. Ask questions, get to know those artists. See how long they have been doing what they do. And - is artwork selling at that location for those asking prices?

The Beginner Artist, Are You at the Novice Level?

I would think that many artists do start off drawing and painting when they are young little Picassos and our mums show off those artworks on the family refrigerators held up with magnets. Oh, remember those days when Mom thought we were all so clever?

Then our family members and friends all LOVE what we do and want our artwork, so we may give away a lot of our early stuff. Or we happen to enter an art contest and win first place - Great! Yet...we haven't really sold any artwork and our art portfolios are pretty sparse. Or we haven't yet built up our art inventory and our inexperience, our art style is potentially in its early stages. 

We all come into the world of art at different times. Some people don't really begin their art lives until they retire and have more time to create art. Some young people grow up with full intention and dedication that they are going to BE an artist. Some folks get into schools and colleges and study art, but until they start actually selling art, they are NOVICE artists.

Someone that is just starting to hit the art shows, galleries, popup shows, art festivals is not at the level of a seasoned artist with lots of art shows, juried art shows, gallery exhibitions, solo shows, and building a client list of commissions. Your hourly rate just cannot and should not be the same as an artist with a lot of art sales behind them. And these artists are way beyond selling their art to family and friends (although we do thank God for their support!).

Your experience level as an artist should affect where you are in the pricing strategy, as well as the medium used, the size of the artwork, and the demand for your work.

You must build your art sales up before you can garner the so-called "big bucks". And that happens over time for nearly every artist since the beginning of art being sold.

Tidbit Trivia: Did you know that Vincent van Gogh, although creating over 2,000 artworks in his lifetime, only sold ONE artwork in his life?

I recently heard a story about a beginner artist that was actually quite good and does exquisite work. The artist had not ever been in an art show or been in a gallery, nor offered art online, until one day he put a price tag on his art. The artist had priced his artwork in the thousands of dollars - and wondered why they were not selling. Truthfully, there could be a lot of factors behind that statement and much disappointment for the artist,  but I don't know any artist that can start with an artwork priced that high. (And if anyone has, that is a rare exception and SO not the rule!) If you are sitting on your artwork with a big tag on it and nothing is selling...as the well-known comedian once said, "There's your sign".

And it is NOT the fault of anyone if you spent multiple hours, days, weeks, months, or longer on any piece of work. Especially when after you have become more experienced, you can develop a similar work in far less time. What I mean is that when I know I'm trying to get a technique or a look in the painting and I have to keep painting it over again and again, that time spent shouldn't have to apply to the time spent, ticking up the price per hour. 

The potential "buyer" doesn't care how long it took you to paint it. The buyer wants to understand WHY you are asking $500 for a 16x20 painting on this wall, and around the corner is another 16x20 painting of yours for $1000.

People and Pet portraits - true, these artworks must represent and be recognized as the persons and the pets being presented, but does that mean those subjects are any more work than another? Interesting point, I think, as I recently understood from another artist that I got the feeling portraits deserved special pricing.

Build Your Resume

Keep track of every ribbon won, every People's Choice, every solo show, every gallery exhibition, shows you were juried into, and any press releases. As the resume builds, these items will help to show the art world around you what you have going on. 

Getting recognized also means, like has been said consistently on this blog, get out there to art shows, art receptions, go to galleries, TALK to people! Enter as many shows as you can for the artwork that you create!

The Mid-Level Artist, Things Are Selling

This level of artist has been selling regularly and is a competent artist, mastering his or her style, beginning to sell some art to people that are NOT our relatives and getting commissions from people that we aren't related to as well. Our body of work is increasing, with a nice selection of work we could enter into various art shows. And we have art that HAS been juried into art shows around us and potentially won first, second, third places, or People's Choice awards. 

Many art shows and calls for art do not want repeated entries nor older artworks, so you'll need to be replenishing and constantly creating art inventory.

Look at it this way too - when you are accepted to have a solo show somewhere, you will also need a cohesive body of artwork, and often a lot of it, to actually put up on the walls for display! 

The mid-level artist is showing plenty of growth, is amassing a good number of inventory and steady sales. Again, if artwork is pretty much selling out...there's your sign.

The Professional, the Expert Artist

As the artist grows and develops into an established, professional, sought-after and recognized artist locally and perhaps even more far-reaching, their hourly wage would be considerably higher than a mid-level artist. These artists consistently sell art, get into art shows, juried shows, and solo shows, have a large following that want to see what they are working on to perhaps have the first option to buy.

Your experience level as an artist should affect where you are in the pricing strategy, as well as the medium used, the size of the artwork, and the demand for your work. Critical acclaim, exhibition history, artist reputation, and yes, rarity, all play a part in that price posted on the art label along with the cost of the materials used, the labor (time spent creating that canvas), and the outright years in the refinement of the skills honed by that artist.

More Thoughts on the Subject of Pricing

I'd love to hear your thoughts about pricing your art. How would you answer any of these questions?

• Do you think its a good idea to have multiple price points for your art so that it is affordable to more people?
• Do you bargain/haggle with your prices in any way?
• Do you offer a section in your solo show with lower-priced paintings?
• Do you have a better response to your art when showing "out of town"? 
• Do you feel your clients demand the quality of higher-end pricing of art?

An artist certainly does not want to undervalue or over-value their artwork. Either way can hurt their bottom line, but the artist must also develop the confidence in the value of their own artwork. The artist must become visible in person as well as their artwork being seen in art events, festivals, shows, galleries, social media - everywhere they can be - especially being seen by the right collectors for their style of work. 

For fair pricing in your GPS, doesn't it make sense to consider where you are in your art journey? The struggle in art pricing is real and ongoing. Are you confident in your pricing strategy?

For Further Reading 

See also the PWAS Artistry Spin Page on Pricing by Donna Liguria  Several previous PWAS Artistry Spin blog posts about pricing your art.

Understanding Art Pricing: Why This Costs That by Vik Chadha  A very concise look at fair pricing.

See How to Price Your Art: Art Pricing Guide for Every Type of Artist  This has a great breakdown on building your pricing schedule. Author Skylan Abraham walks from Novice, Advanced Beginner, Competent, Proficient, to Expert. 

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Author: Donna Liguria is the Blogmaster for the PWAS Artistry Spin Blog and Donna's Cave Paintings Blog, and an artist member of the Prince William Art Society (PWAS) in Woodbridge, Virginia. And she takes on the PWAS social media duties as well (help me!) Donna specializes in acrylic painting of landscapes, seascapes, historic locations, animals and many subjects. Visit her Website at DonnaLiguriaArt.com and her Donna's Esty site to shop her art. 

Local Art: The Prince William Art Society is a 50+-year-old non-profit art group in PWC for the appreciation of fine art throughout the county and Northern Virginia. Visit us at any of our local art shows or join us for our monthly meetings - held on the 4th Monday of the month at the Tall Oaks Community Center at 12298 Cotton Mill Dr, Woodbridge, VA at 7:30pm (typically, but check the website in case of any changes).

Want to join PWAS? Go to https://www.princewilliamartsociety.com/membership

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