It’s no secret that many artists find it difficult to price their work. After all, how do you put a price tag on something that’s so personal? Every artist ask himself this question many times during their artistic path.There’s no easy answer when it comes to pricing your artwork.
But there are a few things you can keep in mind that will consistently help you come up with a fair price for your work.
In this story, we’ll discuss everything you need to know about how to price an artwork. Let’s start!
The cost of materials
When it comes to creating a masterpiece, every artist has their own process and materials that they prefer to use. Some artists may have a specific brand of paint that they prefer, while others may be more experimental with their materials. But no matter what your process or preferences may be, one thing is for sure – art supplies can get expensive.
As an artist, it is important to be mindful of your budget and to find ways to save money on materials.
When it comes to pricing artwork, one of the best ways to start is by considering the cost of materials. This will give you a good baseline for how much to charge.
For example, if a painting costs you $50 in supplies, you’ll need to sell it for at least $100 to make a profit.
The time it took to create the piece
When it comes to painting a picture, the time investment is something that should be taken into account when deciding how much to charge. If it took 20 hours to complete the painting, then the price should be reflective of that time investment. After all, your time is valuable and you deserve to be compensated for it. However, if the painting only took 5 hours to complete, then the price can be adjusted accordingly. It’s all about finding the right balance and making sure that you’re getting compensated for your time and effort.
The trick is to calculate an hourly price, to always keep in mind how much time the painting costs you.