Maybe even trickier: it’s important to steer away from pricing works based on your own feelings and opinions about them. But you also don’t want potential buyers to lose interest or trust because the prices seem overblown. You could end up burning out because you have to compensate for making too little for your time. Of course, it’s important not to undersell. In this case, the work could end up being too overpriced for your market. And on the other hand: what if you’re just starting out or experimenting with a new technique that takes you longer to figure out? This doesn’t necessarily mean that you should price your work in correspondence with the hours spent. Think about it: if you are experienced and work quickly, your work shouldn’t be priced lower because of it. Though this is a good way to begin to gauge the cost of your work, it isn’t always the most effective. The National Association for the Visual Arts (NAVA) has established a code of practice and policies to ensure fair pay for artists and arts workers in Australia, for example. Depending on where you are based, there may be local standards for artist fees and wages. You could think in terms of an hourly wage that you’d be comfortable with, for example. This will help you determine a living wage for yourself. So, pay attention to how long it takes you to make a work, the cost of materials, etc. This way you can gauge a reasonable price for your art while ensuring you give yourself a fair wage. Like time and material expenses, for example. Your market and the research you’ve done on similar artwork should be taken into consideration alongside other factors. A good relationship with your gallery and a credible reputation in general are important if you plan on continuing to work with galleries in the future. This way you can avoid becoming their competitor. You should take the gallery’s cut into consideration when setting your prices, so that you are paid appropriately.Īnd make sure you price your work the same as the gallery if you are also considering selling artworks from your studio. This amount varies depending on the gallery, but is often around 50%. If you’re selling through a gallery, keep in mind that a commission will be taken on works sold. So identifying your market will be a good start towards setting your parameters. This plays an important role, because local street fairs will definitely have a different price bracket from, say, an international gallery or online marketplace. Where and how are you selling your art? From your studio, at fairs or festivals, through a gallery? Are you selling locally, nationally or internationally? It’s good to have an understanding of the art market on a broader level, but you should pay particular attention to the context, criteria and ins and outs of the market that you’re operating in.
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