Jul 21 2022
How do you price a painting? How should commission art be priced? How should photographic prints be priced?
These are important questions, and I appreciate you asking them. Pricing has an impact on how potential purchasers see your art and hence your sales. It is not the only factor that influences your performance, but it is closely related to it.
We at Art Storefronts get asked these questions virtually every day. We collect all of the information first from artists and designers, and therefore we must be completely honest with you. There is no real secret or shortcut for determining how much to charge for your paintings. But we can assist you by providing best practices and explaining why they are beneficial.
Let's begin.
Understanding the bigger picture
All artists want to attract high-net-worth clients interested in purchasing their work at a high price. However, it is far more difficult to achieve when everyone is attempting to do something. And when we focus just on that and fail to see the wider picture and greater possibility, you are much more likely to encounter difficulties.
As a result, clients who do not have a lot of money are also valued. They may have a positive impact on your sale with high net buyers if people follow your art, enjoy what you're doing, or even speak about it.
In terms of figures, if you sell ten paintings for $300 in two months, you will earn $3000. If you sell one piece for $2500, your earnings will be lower than the first example. It doesn't always seem to be the case, and you'll get the idea. Simply because you sell your artwork for a steep cost does not imply that you will make lots of money.
We recommend that you have several price points!
Having several price points
Variable pricing is derived in part to be available to a bigger audience. The fact that you're in the art and photographic sector allows you to easily define your pricing points.
On the one hand, you may offer commissions for a greater price; on the other hand, you can offer original versions for a lesser price, then limited editions for a lower price, and finally prints for an even lower price.
Prices vary according to the size of the artwork.
It makes sense, but we'll explain. For example, larger-sized originals will require more materials, supplies, and time to make than smaller-sized paintings. Aside from that, it would also be odd if more detailed paintings had lover pricing.
You don't have to compute pricing in proportion; you might intentionally stress X sizes. It is all up to you.
Varying forms of media have different pricing.
You may also provide other material types for creative visual art prints, such as canvas, luster photo paper, acrylic, and so on. Prices for high-quality media will be higher. It is critical to describe each media type since some individuals may not understand the distinction. People are less inclined to buy anything if they don't comprehend it.
Art revenues as a powerful marketing technique
When determining your prices, bear in mind that you may wish to provide a discount on select artwork or a sale on every one of them at times. If you don't want to make 15% less than the pricing, try raising your pricing somewhat.
If you're wondering why you would really provide a price and that their art should get a set price, you'll probably change your mind later.
Auctions are a masterpiece to drive sales in practically any industry, particularly in the art world.
How do we understand this?
We are continuously experimenting with new ideas and looking for new methods to sell more artworks, photographs, sculptures, etc. We're drowned in information, which is something we thoroughly tested so you don't have to. It is effective.
A brief look at a competition
It is important to keep your competitors in mind. Because each art is original and unique, determining who your competitor is difficult.
But there is something in common. If you are an abstraction artist who utilizes a watercolor palette, you can identify other abstract painters in your state that use the same colors.
You may examine their artist rates and what they have to offer. However, this will simply provide you with information.
We do not advise just replicating their pricing. To begin with, you are unique. Second, you have no idea how many people purchase their paintings, and even if they do and are doing well, you would rather find out their marketing technique than replicate their rates.
Individuality is also important. For example, are you giving particular commissioned paintings that nobody or a small number of individuals are selling?
If the answer to that is yes, you can charge a premium for it...
You can experiment with prices
If things do not go as planned, you may have to lower or even raise your rates. It's wonderful to ask you target audience and be transparent about it.
price increases/decreases
Furthermore, it's remarkable how simple and reversible it is to raise the pricing points. You only need a great website plus a few mouse clicks.
But keep in mind. You may need to reevaluate your marketing approach rather than prices, or you may need to be flexible. It's not simple to sell your work, but with perseverance and the appropriate strategy, you may make a life from it.
We hope we were able to assist you and address your point on how to market your work.
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