How Much Do Figure Drawing Models Get Paid
Pricing artwork is one of the most complex tasks that emerging artists face, especially when they first brainstorm to piece of work with galleries and start to establish their art business. It's easy to encounter by reading art business articles and books on fine art marketing that the opinions of the experts on how to price your artwork vary.
To make it fifty-fifty more than complicated, we artists sometimes price with our emotions. Some artists overprice their work in order to impress viewers, hoping to brand the artwork look more valuable. Sometimes this works, but usually only when the collector is naive or when the artwork is spectacular and gets the attention of serious collectors.
When I price with my emotion, I tend to lower my prices because I experience sad that the collector has to spend so much. Now, don't get on me for this … it's the truth. I'm an empathetic type, but I need to be conscientious to non price my work based on how I feel well-nigh it or collectors. In other words, I need to wait at how to sell and price my artwork objectively.
Related: How to Sell Your Fine art and Brand Money as an Artist
A Unproblematic Formula for Pricing Art
Putting emotions aside, let me share a simple formula that many of my professional artist friends have used when outset starting to sell their work. I still use this formula. Remember that the cost of your artwork reflects your position and reputation in the fine art-selling earth more than what your art looks like. If you're relatively unknown to collectors and don't have many credentials you lot really can't get the same prices as artists who practice have won art competitions or shown in galleries.
When you're first starting out, it's a good thought to make your piece of work as affordable every bit you can while beingness able to make a small profit. Don't charge and so fiddling that you don't break even. Call back that galleries often take a fifty percent commission from sales, so you'll have to accept that into consideration.
Price Your Artwork With This Simple Formula:
- Multiply the painting's width past its length to go far at the full size, in square inches. Multiply that number by a set dollar amount that'due south advisable for your reputation. I currently apply $6 per square inch for oil paintings.
- Summate your cost of canvas and framing, and then double that number. For example: A 16"-x-20" oil-on-linen landscape painting: sixteen" x 20" = 320 foursquare inches. I cost my oil paintings at $6 per square inch. 320 ten 6 = $1,920.00, and I circular this down to $ane,900. My frame, canvas and materials cost me $150.00 (I buy framing wholesale). I double this toll and then that I'll get it all dorsum when the painting sells at the gallery. Otherwise, I'g subsidizing the collector by giving him or her the frame for free. $150 ten 2 = $300.
- And then I put it all together: $1,900 + $300 = $two,200 (the retail toll). When the painting sells from a gallery, my cut after the 50 percent commission is paid comes to $950 for the painting and $150 for the framing, for a full of $1,100.
For much larger pieces, I'll bring the price per foursquare inch down a notch … maybe a dollar or two lower so that I don't price my work across what my reputation can sustain. Alternately, for smaller works, I'll increase the dollar per foursquare inch because small-scale works accept almost equally much try as larger works, and I demand to be compensated for my expertise, even when the work is miniature.
This is not the only way to cost your artwork, just it's one that keeps my prices consistent. Keep in mind that my prices were much lower ten years ago when my artwork was relatively unknown to collectors. It'due south important to note here that when I take a great selling year, I raise my prices past 10 percentage. When the economy is poor or my sales are slow, I don't raise prices at all.
I promise this volition give yous a place to beginning. If you lot're just selling at local outdoor shows and are entering the fine art marketplace, I would advise that you proceed your dollar amount much lower than mine. I've been selling my piece of work for 14 years.
Lori Woodward is a talented artist who sells paintings and creates informational blogs for the art community.
More Resource for Your Art Career
How to Make Coin as an Artist: A Guide
Your Guide to Selling Artwork During the Holidays
How to Use Instagram to Take Control of Your Art Career
Art Bound Podcast, Ep. 14: Taking the Leap to Full-Time Artist
Source: https://www.artistsnetwork.com/artist-life/a-simple-formula-for-pricing-artwork/
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