how to price custom artwork
Once you start to make a name for yourself and your work starts to sell your prices will go up as well. Art biz whiz Cory Huff of The Abundant Artist uses this trick.
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When pricing your artwork make sure you cover all the costs you have incurred producing it including your time.
. Most of them were priced around 40 or 60. It is always a good idea to know what your peers are doing and make smart informed decisions. For example if you decided on an hourly rate of 15 and spent 25 hours creating your piece the materials for which cost 100 your calculation would look like this.
You will charge 27500 for the piece of art you have created. You could do this for all your art typessizes for the sake of an exercise. Once you have your basic price I would estimate prices for variations or more complicated commission requests by estimating the additional time they would take.
If youre feeling resentment toward your clients or customers its a good bet you need to raise your prices. Cut and wrap the print ready for shipping. Once you have your hourly rate number then it becomes easy to just plug it into your formula.
At my first art show my most expensive painting was probably 80. Your price should reflect the money and time you put into creating your art. When I first started out like many artists I woefully undercharged for my work.
If you charge 30 per hour then a 10 hour DD commission costs 300. Adding costs for materials on top. Of Labor lists the average hourly wage for a fine artist as 2458 use this to help you estimate.
Cost of your Packaging add up the cost of your cello sleeves any greyboard stickers wrapping paper envelopes tubes etc. Being woefully underpaid leads to feeling woefully undervalued and sooner or later resentful. Set an acceptable hourly rate.
Write it down on a piece of paper and attach it to the piece of wood. Important Pricing Lesson 1. Ship your print time it takes you to go to the post office and any associated parking fees etc.
The cost of materials will include canvas paper graphite charcoal paint ink frames etc. Basic pricing strategy. Your artwork should be priced at 161 for 8 hours of work.
While the objective here is to set a price point for your art today you should always be looking towards the big picture. Pay yourself a reasonable hourly wage add the cost of materials and make that your asking price. Remember to factor in the price of things like electricity or other intangible equipment you use to produce your work.
Start by keeping track of how long you actually spend on a piece. You can do this by adding up the following. Monthly salary number of paintings you could do in a month cost of materials Price.
Hourly rate X number of hours spent cost of materials Price. For example if materials cost 50 you take 20 hours to make the art and you pay yourself 20 an hour to make it then you price the art at 450 20 X 20 hours 50 cost of materials. Add to that number as you add to the piece.
25 hours x 15 hourly rate 375. If you spend on average 6 hours that would be 180 if you spend 20 hours thats 600. Daily rate X number of days spent cost of materials Price.
Physically print the print and check it. That of building a successful and maintainable art business. Add up the cost of materials you used to create.
Multiply this by the hours spent creating an artwork. For example if your hourly wage is 20 your materials cost 50 and the electricity in your studio costs 50month which is about 17day. If my prices dont make me feel at least a little uncomfortable that Im charging.
Decide on a fair hourly wage and then multiply this by the length of time it took you to complete the artwork. Other expenses will include online and offline marketing the cost of craft shows or commission costs if you are hiring someone to help sell your art. This is highly individual.
In my recent art shows my cheapest painting has been 100 with the most expensive being 300.
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