Tuesday, November 09, 2010

Pricing Art

"Sunny Day" 8x8" acrylic by Robin Maria Pedrerooriginal and prints available
I regularly receive requests on the business of art.
Today I will address a recent question from @mindvend  on twitter
do u know of any sites that assist with valuation of art for pricing?
I do not know of a site that calculates that for you as a contemporary artist, yet there are many resources regarding pricing to assist you.
 how do artists decide their works value & how do their approaches change through career?
After @ClaudiaSmalley saw the tweet she asked to be in on the convo saying " valuation 4 art interests me as I'm trying 2 understand dependencies eg prolific, fame, collaborative?"
I will jump right in and say many answers can be found  via The ART BIZ COACH which is my most favorite art business resource! I highly recommend Alyson Stanfield's book "I'd Rather be in the Studio" and other fabulous tools available on her site. I am an affiliate. I searched and found Pricing Your Art:10 Rules
Sharing personally....Early in my career, before I discovered Alyson on the net, I had referenced the book Art Marketing 101, and sought many sources and artist mentors to help guide me. My mentors may change yet I rely on them. I learned one method was to price by size. Pricing work by a set amount per size or even per square inch while taking account into the cost of materials, framing, fees, etc. As I acquired more sales and commissions  I would track hours spent on each piece of art by tally marks, until I came up with an average and attributed a monetary value of what I wanted to get paid per hour, factoring in the costs of materials. I did some comparison pricing based on my colleagues and found it varied dramatically, yet I arrived at my own conclusions and developed a price list and personal system. Factors like skill level, size,medium, market cost, investment value,name recognition, location and subject matter influence the way we price our works as artists. As I continue to build my career, with awards, honors, and juried in as a Pastel Society of America Signature Member, (with one of the coolest tribes of art collectors and fans) my portrait and pastel prices gradually raised. Around 2008 I began working with acrylics and I price them accordingly, with less overhead on extensive framing, presently less than the pastels.  
Also check out The Ten Commandments of Art Pricing
Tips on pricing your art work when you start selling From Robert Genn The Painter's Keys

What's your story? Please post via comment your references and ideas here and pop on twitter to share in this topic of #PRICINGART

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1 comment:

robin said...

thank for these resources! i have just been debating this all myself ;)