It is no secret that many artists struggle with how to set the right price for a newly finished painting. 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 set the right price for a painting. Let’s start!
How to set the right price for a painting? The answer is a combination of several aspects:
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.
The size of the artwork
The first is the size of the artwork. Larger pieces will usually sell for more than smaller ones.
The larger the piece, the more it will sell for. This is because people are willing to pay more for a piece that is large and in charge. However, you need to be careful not to go too large. If your piece is too big, it might not fit in the buyer’s home and they’ll be less likely to purchase it, or if your target is your people, they may afford only smaller sizes.
So, be careful and consider your target first of all.
The shipment cost
When you’re selling your artwork, it’s important to consider the cost of shipping. Once you’ve found a buyer for your artwork, you’ll need to ship it to them. This can be done using a number of different shipping methods, including USPS, FedEx, and UPS.
Each shipping method has its own advantages and disadvantages, so it’s important to choose the one that’s best for you and your artwork. USPS is usually the most affordable option, but it can take longer for your artwork to arrive. FedEx and UPS are typically more expensive, but they offer faster shipping times.
When you’re shipping your artwork, you’ll need to pack it properly to ensure that it arrives safely.
It’s up to you to let the client pay the shipment cost or not, but consider it as an expense anyway.
The uniqueness of your style
Finally, consider your own unique style. If you feel confident that your artwork is worth more than the average person’s, then charge accordingly. However, if you’re not sure about your value, it’s best to start with a lower price and see if anyone bites. By pricing your artwork too high, you run the risk of no one buying it. But by pricing it too low, you might not make the profit you deserve. So find a happy medium, and price your artwork accordingly.
The most important thing to remember when pricing artwork is that you need to make a profit. Don’t be afraid to charge what you’re worth, or you’ll never make any money from your art!
Remember that you’re in control of the price. If someone is offering you an unfair price, don’t be afraid to walk away. There are plenty of other buyers out there who will appreciate your artwork for what it’s worth.
Now it’s your turn! Showyour great art to the world!
If you found useful this story you will find very useful this one too: “Sell Art On Etsy: How To Recognise And Start Selling What Really Works”