How to Set Price for Your Artwork?
Proper pricing can contribute to selling your artwork easily. As an artist, you must be able to explain the reason for your pricing, so choosing the best methods and principles plays significant role in setting a proper rice. There are various ways that can help you find the best price for your artwork. Heed the following tips if you are seeking improvement in art market:
- Set hourly price for your artwork
- consider the efforts and time you put to create that work
- calculate the price of material you used
- Use comparison to set the best price. Find the artworks similar to yours and check their prices, and while comparing heed the dimension, size, prizes and exhibitions, and the material used for the works. Make sure that your comparison is done with the sold works.
- Act like retailers when you are setting price on your artwork- at two times the cost of materials
- Have consistency in setting prices. For example, if you choose specific price for your small work, the price of the bigger one must change accordingly.
- Some art lovers like your works and are willing to buy one, but cannot afford 2000$, so try to have works with 500$. This work will increase your artistic reputation.
- Pick up a notebook and record all the works you have sold with their prices, as you may wish to increase your prices in the future. It is your undeniable right to increase your artwork when you find your significant place among prominent artists.