Pricing your work properly can be an extremely challenging task. Set the price too low and you could leave money on the table, set the price too high and your artwork could start stacking up in your studio.
Research the Prices of Comparable Artists
How much do similar artists charge for their work? Thoroughly researching your market will give you a better idea of how to price your art. Consider other artists’ work that is comparable in style, medium, color, size, etc. Also look at those artists’ accomplishments, experience, geographic location, and production rate.
Don't Undersell Your Work or Yourself
Your price should reflect the money and time you put into creating your art.
Art biz whiz, Cory Huff of The Abundant Artist, uses this trick: “if my prices don’t make me feel at least a little uncomfortable that I’m charging too much, I’m probably undercharging!” Charge what you’re worth (within reason).
Have Confidence and Stand By Your Price
Whether you sell a lot of work or are new to the space, have confidence in yourself and your prices. If you don’t, buyers will figure it out quickly. State your price firmly and let the buyer respond—and ignore any nagging inner thoughts about lowering it. When you take the time to properly and realistically price your work, you can stand behind the price. If the buyer wants to go below that, you’ll be ready to justify your price. Confidence does wonders and will help you come home with the money you deserve.
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