Pricing your Work

Starting out as an artist makes it hard to figure out how to price your work. Price it too low and it you’ll struggle to establish yourself as a professional - or raise your rates significantly later on - but price it too high and you’ll struggle to find sales. So what do you do?

Do your homework

First of all, you need to do a bit of research. Find other artists who are selling work similar in size or medium to yours and have a similar profile in terms of how established they are. Look at what they sell and how they price it and compare it to your work and that of others selling on similar platforms, this should give you an idea of where to start.

Factor in your costs

A general rule of thumb is to figure out what it’s cost to make your artwork – include materials, time, framing, marketing, packaging - and double it. If you are planning to frame work for sale, get an exact quote before you price your work as every decision you make from frame depth to glass and mount will impact the price. Figure out what you feel is a reasonable hourly rate for your time and factor that in. That doubling has got to cover all your overheads, your taxes, and give you a living wage so don’t feel embarrassed about it.

Selling through a gallery

If you’re selling your work through a gallery, you’ll also need to factor in the gallery commission, VAT and still make something for yourself. This can inflate the cost of your work considerably but with the gallerist marketing your work, you should be able to reach a whole new rage of clients.

Don't undercut your gallery

It’s also good policy to never undercut your gallery, charge the same rate everywhere or your gallery won’t be too happy when their hard work in brokering sales falls apart if your work is available on your own website or an online platform for less.

Sell works at different price points

If you’re afraid your work may be too expensive for your market but the prices already reflect what it’s cost you to make the work, think about creating a range of more affordable works so you can sell at a variety of price points. It might be prints rather than originals, smaller works, or even greeting cards. If someone really loves your work and they take home a card, or send one to someone else, it may just be the first step in a string of interactions. If they buy nothing, they may forget you and your work and when the time comes that they have more money to send, it’s likely to be with someone else.

Be upfront about your pricing

If you have work for sale be clear about pricing. Allow potential customers to see what they’re getting and if there are options in terms of size or presentation, lay it all out up front. If you’re selling online, make sure you give details on delivery prices and time frames so they can be factored in too. Buyers can then make a decision quickly and easily, you’ll avoid having an awkward conversation and everyone starts on an easier footing.

What about discounts?

Although a 10% discount is not unusual in the art industry, if someone asks for a discount, try encouraging them to see the value in your work instead. Your skills are unique to you, they can’t buy this artwork from someone else, materials are expensive, your time is precious, and you need time, space and a place to come up with new work. Value what it is you do and others will value it too. Of course, if you’ve got a load of work that you just can’t shift and need space in your studio to come up with something bigger and better, at least aim to earn back the cost of the work so you’re not left out of pocket.