How to Price Art Show Entries Vs Regular Print Sales

Consistent pricing is key for successful art sales. But, how do you put a toll on your efforts and artwork? How do yous decide on a logical arroyo?

The all-time solution for many artists is to select a pricing formula that works well for your fine art grade and is a skilful fit for the stage of your career. A formula tin simplify your life, plus makes it easier to explain your prices to potential buyers.

Consider one of these 3 straightforward formulas for pricing your work:

FORMULA 1: Square Inch × Dollar Amount

Artist Daily contributor and professional person artist, Lori Woodward multiplies the size of her painting - in square inches - by an appropriate dollar corporeality. Art consultant Maria Brophy and her married man, artist Drew Brophy, employ Lori'due south technique to toll his piece of work. To get the foursquare inches of a painting, multiply the width of the piece of work by the length. Next, multiply this number by a dollar amount that makes sense for your reputation and credentials. Then round to the nearest hundred. Finally, double the cost of your materials and add information technology to the square inch dollar amount. This accounts for the 50% commission galleries commonly take to sell your piece of work. Simply, if you don't sell from galleries, don't account for gallery commission.

Emerging artists should consider pricing their fine art at more affordable rates, while established artists tin charge higher rates. Lori charges $6 per foursquare inch. She started off with a $2-$iii range when she was selling at outdoor art festivals and increased the dollar amount in one case she started working with galleries. Make sure to not outprice your buyers, though. With larger paintings, Lori uses a smaller dollar multiplier.

Example for a painting with a width of 18 inches, a length of 24 inches, a square inch multiplier of $4, and a fabric cost of $100:

1. (18 in × 24 in) = 432 foursquare inches

2. 432 square inches × $four = $one,728

3. Rounded to $1,700

4. $100 × 2 = $200

5. $1700 + $200 = $1,900

FORMULA 2: (Hourly Wage × Hours Spent) + Cost of Materials

Your price should reflect the money and time you put into creating it. This formula ensures y'all are being paid for each hr you work and are roofing the cost of your materials. Information technology is an especially good formula for artists who are merely starting out. When deciding on an hourly rate, look to see what comparable artists are charging for their fine art. If you lot use this formula and your price is much higher than theirs, consider lowering your hourly rate.

Example for an artist who charges $20 an hour, works for 15 hours to complete a slice, and spends $100 on materials:

1. $twenty × fifteen hours = $300

2. $300 + $100 = $400

FORMULA three:  (Height + Width) × Multiplier

Melissa Dinwiddie, an artist and author of the blog Living A Creative Life, recommends linear inch pricing if you have paintings of many different sizes. On a invitee mail service for The Arable Artist, she explains that it'south a skilful arroyo because it'southward very simple for buyers to empathise. Square inch pricing tin be disruptive with a range of sizes. For instance using a multiplier of $2.fifty per square inch, your smallest painting (four × 4 inches) will exist $40 and your largest painting (32 × 32) volition be $two,560. That can exist difficult to explicate to a potential buyer and could put them off. Linear inch pricing is a lot simpler to follow.

Example for a four × 4-inch painting at $20 per linear inch:

1. iv + iv = viii linear inches

2. 8 linear inches × $20 = $160

Case for a 32 × 32-inch painting at $20 per linear inch:

1. 32 + 32 = 64 linear inches

2. 64 linear inches × $20 = $ane,280

Pricing Your Fine art Consistently Pays Off

Pricing your work consistently comes with a wealth of benefits. It allows you to build credibility and establish an excellent reputation amidst buyers and collectors. Buyers similar understanding how art is priced. It will as well continue you in your gallery's good books.

Want to Know More? Check out Why information technology Pays to Price Consistently.

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Source: https://www.artworkarchive.com/blog/how-to-price-consistently-for-art-sales-success