1 / 9

Making Money Through Art

Making Money Through Art. Pricing and Presentation of Artwork to Sell. Pricing Basics. Most galleries and art dealers will take a 50% commission. Art prices are market driven, so know your market. Keep pricing consistent. How to Price Your Work. Research. Visit many galleries

berke
Download Presentation

Making Money Through Art

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Making Money Through Art Pricing and Presentation of Artwork to Sell

  2. Pricing Basics Most galleries and art dealers will take a 50% commission. Art prices are market driven, so know your market. Keep pricing consistent.

  3. How to Price Your Work • Research. • Visit many galleries • Check out the pricing of similar work • Be sure to compare medium size, style, subject matter, and artist • Do not be afraid to ask questions. • Ask gallery personnel how well similar work is selling at different prices. • Check out the resume of the artist and see how their career compares with yours.

  4. How to Price Your Work • Create a formula. • Formulas can be very effective to keep your pricing consistent. • Many formulas are based on size, but they can be based on the cost of materials, labor, etc. • Keep any formula simple—many clients will ask how an artist prices their work and trying to explain a complicated formula based on materials, labor, grocery bills, mortgages, etc. is a turn off. • Feel free to work backwards; select a price you are comfortable with receiving after all of your research is done and reverse engineer a formula. • Example: You want $2400 for a 30” x 40” painting (30 x 40=$1200 x 2= $2400), so your formula would be based on a $2 per square inch pricing.

  5. How to Price Your Work • Have a minimum price. • It is fine to set a minimum price for your work. This way, smaller works are not undervalued due to a formula. • Be consistent.

  6. Formula Examples • Length + Widthx Pre-Determined Number • Formula for an 8” x 10” painting: • 8+10=18 x 30=$540 • Length x Width x per Square Inch Cost • Formula for a 24” x 36” painting: • 24 x 36=864 x 1.75=$1512

  7. Pricing No-No’s • Erratic pricing • Paintings of the same size, date, medium, subject matter, etc. are priced at different prices. • This is very unnerving to clients as they are unsure of the value of your work. • Undercutting • Selling your work for different prices in different places. • This also makes it more difficult for clients to know the value of your work. • Dramatically Raising Prices • Having a drastic shift in the price of your work may keep buyers away.

  8. Pricing No-No’s • Pricing Too High • Pricing your art too high will immediately keep potential buyers away in the present and future. • De-valuing Your Art • Lowering your prices de-values your artwork and can hurt already established relationships • Adding Too Much for Framing Costs • Being Unsure About Your Pricing • When an artist is unsure about their pricing, it conveys both un-professionalism and an unstable value for the work.

  9. This presentation is from Visual Art Exchange’s “Business of Being an Artist” educational series. For more information, visit www.visualartexchange.org.

More Related