I was at a meeting of artists last weekend and the subject of pricing came up, as it does often among artists. When I got home that evening I had an email from another artist asking me about my thoughts on pricing artwork.
My friend Sharon Kyle-Kuhn just sent me a link to this Art-Tistics post about pricing artwork. I've written about the subject before, too. And Alyson Stanfield has written about it on her Art Biz Blog several times...
The Art-Tistics author discusses the need to have consistent pricing everywhere - every gallery that sells your work, regardless of region, and even your own studio.
"But artists must be consistent in their pricing and accept the fact that if they are going to work with an art gallery or art dealer or both, then they can’t have them competing with each other and also with the artist, because a good art dealer’s job is to protect both the artist and the collector."
I know for some artists, a 50% commission (which is standard) seems really steep. But the gallery (if it's a good gallery, doing its job) will earn that amount. They will learn all they can about your work and your process and share that information with their customers. They will promote your work in the press. They will contact collectors who have purchased your work in the past. They are salespeople. They want to sell your work as much as you do, and they'll work hard to make sure that happens.
And if you don't believe in galleries and you have the energy and enthusiasm and skills to market and sell your own work, then that's great. If that's the case, the author states, "... you control prices and can do whatever you want, and hopefully won’t be having art 'sales' where you’ll be 'discounting' the work that you sold to collectors a week earlier for a specific price, to a much lower price."
So if your work is in several galleries and you sell work from your studio, please be consistent with your pricing!
Showing posts with label pricing. Show all posts
Showing posts with label pricing. Show all posts
Pricing
I think I get attached to my work and sometimes don't want to let certain pieces go. But the rest of the time, if someone seems like they really like a piece, I have a hard time not just giving it to them. That's not a good way to make a living as an artist, though, is it?
I've had some issues with pricing recently. I won't bore you with the details, but the difficulties have helped me see the wisdom of what you always hear about pricing: be consistent.
Deciding on a price
Pricing your work is tough, especially when you're just starting out. Maybe you're having a show in a student gallery, exhibiting a piece in a local art group's show, or entering regional or national juried shows. If your work is available for sale, you will be asked to include pricing information.
My best advice is to ask around - how are artist's with similar work pricing their work? Then you have to take into account your own "status." Are you just starting out? Have you been painting (or whatever it is that you're doing) for 20 years? If you've been doing watercolor for a year and another artist has been doing it for 25 years, then they will most likely be able to command a higher price for their work.
Then you also have to consider your materials. If you use something rare or expensive, then take that into account when pricing. Framing is another issue - if you've spent a lot on the frame, be sure to include that in the price.
Time is another factor. Some people say not to consider time, but if your work is very time-consuming, you could consider it.
I think most artists start out by figuring pricing by size. Obviously larger pieces usually require more time and more materials, so it's understandable to charge more for them. If it works for you, you could determine a formula to simplify pricing. For example, you could determine a price - say $1 per square inch. You just figure an initial price and then do the math for each subsequent piece...
If you're going to show work in a gallery for the first time (and you haven't already established pricing for your work), I would suggest working with the gallery director to determine the best pricing. He or she will know what collectors will pay for your type of work in their market.
Then, when you've established that pricing, stick with it. This is where the "be consistent" thing comes into play. Your prices should be the same in all galleries and shows and even your studio. What if someone from your town purchased a $1000 painting of yours and then travels to another city and happens to see a similar painting in a gallery for $600? This would annoy, confuse, and possibly anger them.
You need to price work that you sell out of your studio consistently, too. It's common for people to expect an artist to sell her work for less through her studio. The advantage to the artist is that she doesn't have to give the gallery their percentage. This is true, but it will also ruin her reputation with gallery owners. And whatever you say about the inequities in the gallery system and the unfairness of the art world, that's the system that's in place right now, so if you want to work within it, then you have to follow the rules.
Then, as you sell more work and become more known, you can gradually increase your prices.
Here's a good article in Artist's Register about this topic.
Another take, this time from About.com.
And yet another, reprinted from ARTnews.
How do you price your work?
I've had some issues with pricing recently. I won't bore you with the details, but the difficulties have helped me see the wisdom of what you always hear about pricing: be consistent.
Deciding on a price
Pricing your work is tough, especially when you're just starting out. Maybe you're having a show in a student gallery, exhibiting a piece in a local art group's show, or entering regional or national juried shows. If your work is available for sale, you will be asked to include pricing information.
My best advice is to ask around - how are artist's with similar work pricing their work? Then you have to take into account your own "status." Are you just starting out? Have you been painting (or whatever it is that you're doing) for 20 years? If you've been doing watercolor for a year and another artist has been doing it for 25 years, then they will most likely be able to command a higher price for their work.
Then you also have to consider your materials. If you use something rare or expensive, then take that into account when pricing. Framing is another issue - if you've spent a lot on the frame, be sure to include that in the price.
Time is another factor. Some people say not to consider time, but if your work is very time-consuming, you could consider it.
I think most artists start out by figuring pricing by size. Obviously larger pieces usually require more time and more materials, so it's understandable to charge more for them. If it works for you, you could determine a formula to simplify pricing. For example, you could determine a price - say $1 per square inch. You just figure an initial price and then do the math for each subsequent piece...
If you're going to show work in a gallery for the first time (and you haven't already established pricing for your work), I would suggest working with the gallery director to determine the best pricing. He or she will know what collectors will pay for your type of work in their market.
Then, when you've established that pricing, stick with it. This is where the "be consistent" thing comes into play. Your prices should be the same in all galleries and shows and even your studio. What if someone from your town purchased a $1000 painting of yours and then travels to another city and happens to see a similar painting in a gallery for $600? This would annoy, confuse, and possibly anger them.
You need to price work that you sell out of your studio consistently, too. It's common for people to expect an artist to sell her work for less through her studio. The advantage to the artist is that she doesn't have to give the gallery their percentage. This is true, but it will also ruin her reputation with gallery owners. And whatever you say about the inequities in the gallery system and the unfairness of the art world, that's the system that's in place right now, so if you want to work within it, then you have to follow the rules.
Then, as you sell more work and become more known, you can gradually increase your prices.
Here's a good article in Artist's Register about this topic.
Another take, this time from About.com.
And yet another, reprinted from ARTnews.
How do you price your work?