Every artist whether new or established makes each piece of art with extreme dedication. They use their creativity optimally. This makes every painting or any other piece of art which they create extremely precious for them. Moreover, the amount of effort and time they put in these paintings also makes these paintings an integral piece of their heart. However, to put each painting for sale is what an artist do to earn a living. The paintings are made for the purpose of selling no matter how attached a painter is. In order to sell the paintings, the artists have to set a price for each painting for sale. This is the toughest task for every artist. They have to set a price for their creation which is priceless to them. Though an artist faces various qualms while setting the price of the paintings, the biggest stumble is the emotions. Hence, to rise above this problem and to be able to set the price rationally, they read various articles and books on art marketing. The opinion of various author increases confusion in their minds more rather than solving it.
Nonetheless, after reading this blog post, artists will surely be able to price their artworks more realistically. Take a look to know more.
Research the Prices –
It’s always a good idea to research the works of other new and emerging artists and check the prices. This will help you in getting an idea of how the fellow artists are selling their paintings. By getting an estimate of the selling prices, he will be able to decide a price which will neither be high nor low for a novice artist.
Set Same Prices for Every Selling Medium-
There are various mediums for selling art. Artists don’t stick to using a single medium instead they try to use as many mediums as they can optimally. However, it has been observed that the same painting is priced differently on each medium. You should avoid doing so as this will portray you as some fraudulent.
Don’t Let Emotions Affect the Price-
Pricing your art with emotions can complicate the way you price your art. The artist might be very attached to one of the paintings he has created. This extra emotional attachment will either restrain the painter from putting the beautiful painting for sale or will lead to over-pricing of the painting.
Conversely, the artist might get emotional in another way, he might start thinking about the price from the buyer’s perspective. As a consequence of the same, he might end up lowering the price of the painting too much.
Keep Room for Negotiation–
The commoners even if they are art lovers have a tendency of bargaining anywhere and everywhere. There’s some next level satisfaction which they get by buying paintings at a bit lower price than what they are being told. Hence, you should always keep room for some negotiation.
Take Size in Consideration –
The size of the painting affects the price of the piece. If the painting is large, it will be pricier than the painting which is small in size. Hence, one always has room for asking for double the amount for a large painting than a normal one.
In a nutshell, while putting any painting for sale, artists should keep the price of their paintings affordable. By keeping their art affordable at the beginning of their career, they will be able to grab the attention of art lovers. However, no artist should set the price of his art to minimal as that can give an impression of the artist not being self-assured. Besides this, the artists should also consider the amount he has spent in buying the materials for making the painting. If the artist has put a painting for sale on an online or offline art gallery, he should also know the commission that the gallery will take. After keeping both these things in mind, the painter should set the price of every painting. The price should be such that he should be able to at least cover all these expenses and still be able to make some profit. Setting the price of any artwork will be a tough nut to crack for every new artist at the start. However, after selling a few paintings at the set prices, the novice will become confident and will get a hold of the pricing techniques too. The artist will be able to identify the pricing formula that will work for him. This will eradicate the apprehensions that prevail in the mind of the artist while setting the price of every artwork. As the artist will start gaining popularity, he can increase the prices of his paintings. Don’t forget to share your tips for pricing art in the comments section below.