_edited.png)
Pricing your art, especially as a beginner, can be one of the most challenging aspects of running an art business. In a recent solo episode on my podcast, I shared strategies for pricing artwork confidently and effectively, including how to overcome common fears, understand costs, and value your work. Here’s a breakdown of the key points discussed:
Common Pricing Challenges for Artists
Many artists, especially those just starting out, face significant mental roadblocks when it comes to pricing their work. There’s a fear of charging too much and losing customers, or charging too little and undervaluing your art. Additionally, many beginner artists, particularly women, struggle with imposter syndrome, leading them to hesitate in raising prices or asking for what their work is truly worth.
One of the biggest hurdles is the emotional difficulty in putting a price tag on something deeply personal, like your art. Remember, pricing is not just about numbers—it's about valuing your time, effort, and creative talent.
Practical Pricing Strategies
Here are several key strategies discussed in the episode that will help beginner artists price their work more effectively:
1. Understand Your Costs
Before setting any prices, you need to understand your costs. This includes not only the materials you use (paint, canvases, brushes, etc.) but also your time, overhead (studio space, utilities), and any additional fees (gallery commissions, shipping fees if selling online). Start by calculating a break-even point, which is the minimum price you need to cover all your expenses. Anything beyond that becomes your profit.
2. Use the Square Inch Method
One practical pricing technique is the square inch method, which involves multiplying the number of square inches in a piece by a dollar amount. For example, if you decide to charge $2 per square inch, a 12x12-inch painting (144 square inches) would be priced at $288. This method allows for consistency and transparency in pricing based on the size of the work.
3. Consider Experience Level
As a beginner, you might start with lower prices and gradually increase them as your experience, reputation, and demand grow. Your pricing should evolve over time as you build your portfolio and confidence. Make sure to regularly reassess your pricing strategy as your career progresses.
4. Research Competitor Pricing
It’s essential to research how similar artists in your niche or market are pricing their work. Look at artists who are at a similar stage in their career, as well as those slightly ahead of you, to get an idea of industry standards. Take note of pricing structures for both original works and prints.
5. Tiered Pricing
Tiered pricing is a great strategy for catering to different types of buyers. For example, offer high-priced original works for collectors, mid-range prints for casual buyers, and lower-priced smaller pieces for art enthusiasts. This allows you to reach a broader audience without compromising the value of your high-end pieces.
Pricing Commissions
Commissions require special consideration because they often involve more time, effort, and communication with the client. It’s recommended to charge a higher price for commissions compared to your pre-made pieces to account for the extra back-and-forth and the customization involved. Additionally, setting clear expectations with a client contract can protect you from underpricing or getting stuck with unexpected revisions.
Pricing with Confidence
One of the biggest takeaways from the podcast is the importance of confidence in your pricing. The reality is that your art has value, and it’s important to stand firm in your pricing decisions. If family or friends ask for discounts, it's okay to say no. You’ve invested time, resources, and talent into your work, and you deserve to be compensated fairly.
It’s also important to remember that pricing is an ongoing experiment. You can always adjust your prices as you learn what works best for your audience. Start by testing your prices in different markets—whether online, in galleries, or at art fairs—and be prepared to tweak them based on feedback and demand.
Pricing Art Online vs. In-Person
Selling art online and in-person comes with different pricing considerations. Online platforms typically require you to factor in shipping fees, platform commissions, and taxes, all of which can add to the cost of a piece. On the other hand, selling in-person at galleries or art fairs may involve different overheads like booth fees or gallery commissions, which you need to account for.
However, regardless of where you’re selling, it’s crucial to maintain consistent pricing across platforms. If a customer sees your artwork priced lower online than in a gallery, they may question the integrity of your pricing. Consistency builds trust and reinforces your value as an artist.
Key Takeaways
Value Your Time and Materials: Understanding your costs is the foundation of any good pricing strategy.
Be Confident: Don’t be afraid to ask for what your work is worth and stand firm in your pricing.
Research the Market: Look at what other artists are charging to stay competitive.
Adjust as You Grow: Don’t be afraid to revisit and raise your prices as your experience and demand grow.
In conclusion, pricing your art is a journey that gets easier with time and practice. By developing a clear strategy and pricing with confidence, you’ll attract the right buyers, avoid burnout, and feel empowered in your art business.
For more insights on pricing strategies and other tips for artists, listen to my full podcast episode on this topic! You’ll also find more resources, including my guide to commission pricing, on my blog.
Comments