Photo by Thomas Galvez , Creative CommonsAttribution two.0

Whether it's your first piece of art or your 100th, pricing your work properly can be an extremely challenging task.

Set up the price too low and you could go out money on the table, set the price also high and your artwork could start stacking upward in your studio.

How do you lot notice that heart basis, that sweet spot?  Nosotros've compiled 5 of import exercise's and don'ts for pricing your art to help ensure your work finds a deserving home—and you go the salary y'all deserve!

DO: Research the Prices of Comparable Artists

How much do similar artists charge for their piece of work? Thoroughly researching your market will give you a better idea of how to price your fine art. Consider other artists' work that is comparable in style, medium, color, size, etc. Likewise look at those artists' accomplishments, experience, geographic location, and product rate.

Then search online, or visit galleries and open up studios and see their art in person. Learn what those artists charge and why - equally well as what cost sells and what doesn't. This information tin can be an first-class gauge to help ensure your pricing is in the right ballpark.

DON'T: Undersell Your Work or Yourself

Creating fine art is time consuming and many materials can be expensive. Think about a reasonable hourly wage and the cost of materials when pricing your fine art - that includes framing and aircraft, if applicable. The US Dept. of Labor lists the average hourly wage for a fine artist as $24.58—use this to help you estimate. Your cost should reflect the money and time you put into creating your fine art.

Art biz whiz, Cory Huff of The Abundant Artist, uses this trick: "if my prices don't brand me experience at least a petty uncomfortable that I'm charging too much, I'm probably undercharging!" Charge what you're worth (within reason).

Practise: Go along the Aforementioned Price For Your Studio and Galleries

If you're thinking of selling work from your studio at lower prices than your gallery, think again. Galleries put time and energy into their sales and generally aren't happy to learn you lot've been selling work for a lot less. Take it from fine art business coach Alyson Stanfield, they volition driblet you like a hot frying pan.

What'due south more, other galleries could acquire almost this and be less inclined to work with y'all. Make sure y'all take set prices that are generally the same for your studio and your galleries. That way people can buy your beautiful work from either place, and you tin can maintain a positive relationship with your galleries.

DON'T: Permit Emotions Arrive the Way

This is tough, we know. With all the time, creative effort and emotion yous invest in your work, it'south piece of cake to become attached. Existence proud of your piece of work is wonderful, letting emotion impact your pricing is non. Pricing your piece of work needs to be predominantly based on its physical attributes and non on personal value. Subjective qualities like emotional attachment are hard to explain to buyers. If in that location's a piece or ii that are especially meaningful to you lot, consider keeping that piece of work off the market and in your private collection.

DO: Take Conviction and Stand up By Your Price

Whether yous sell a lot of work or are new to the space, accept confidence in yourself and your prices. If yous don't, buyers volition effigy it out quickly. State your cost firmly and permit the buyer respond—and ignore any nagging inner thoughts well-nigh lowering it. When you have the time to properly and realistically toll your piece of work, you can stand backside the price. If the heir-apparent wants to go below that, you'll exist gear up to justify your price. Confidence does wonders and will assistance you come home with the money you deserve.

Want more help pricing your art? Consider one of these iii straightforward formulas for pricing your work.