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Ah, art fairs… I do miss you at times. |
Charge by the inch, of course. (Iâm not kidding.)
This is the most emotionally-fraught question I hear from beginning painters. You can simplify the issue greatly by setting aside your emotional involvement with your art and basing your selling price on the size of the piece and your selling history.
If youâve never sold anything before, there is no way to deduce a selling history: only the market can do that. But most beginners price their work too cheaply. That can actually hinder sales. Nobody else is going to value what you donât value yourself.
Survey other artists with the same level of experience and set your first prices in line with theirs. Experience and competence are not synonymous. Most artists are terrible judges of their own work, seesawing between believing theyâre geniuses and believing theyâre hopeless. Such a subjective judgment should never guide pricing.
Itâs not just brushwork that sets market price. Check out the regional market in which your competitors are selling, their affiliations, and their history of shows and sales. Be honest with yourself. Thomas Kinkead may have been a lousy painter, but his canvases are worth many times what mine are. He was an extremely talented marketer who created a nationwide niche for his work.
I believe in giving paintings to non-profits for their charitable auctions. Itâs a good way to leverage your talent to help others. It gives exposure and a sales history, and if you err in the pricing, itâs not a fatal mistake. (But donât do it for a tax deduction; these donations are generally not deductible.)
Whether selling in a gallery or at a festival, the principles of pricing remain the same. |
Once youâve sold somethingâto a friend or family member, or at a charitable auctionâyou have a sales history, albeit an imperfect one. From this, you can extrapolate a pricing structure.
Letâs say you gave an 8X10 watercolor of the Old Red Mill to your local historical society, which turned around and sold it for $100. Great! You have a sales history (albeit an imperfect one) from which to calculate prices. Just figure out the value per square inch and calculate from there.
Knowing that many artists are arithmetic impaired, Iâm going to spell this out for you. Square inches=height times width, so your 8X10 painting is 80 square inches. Dividing the $100 selling price by 80 gives you a value of $1.25/square inch.
So to use this to calculate other sizes, youâd end up with:
6X8: $60
9X12: $135
11X14: $240
12X16: $315
9X12: $135
11X14: $240
12X16: $315
Now, on the edges, I might adjust a little, since charging $15 for a 3X4 painting would be absurd, and charging $1500 for a 30X40 would surpass what anyone would pay for an untried painter. But itâs a formula Iâve used successfully for years. Framing costs scale up and down in the same way, and the bigger the painting, the more work it generally represents (unless youâre playing games and your large canvas is merely a schmear).
I would not set my prices in stone on the basis of one sale, of course. In fact, I never set my prices in stone. You should continuously update your prices based on your average sale prices for the prior year or two. The goal of every artist ought to be to sell at constantly rising prices. The last five years have played havoc with this, but when you find yourself âpainting on a treadmillâ to have enough work for your next show, itâs definitely time to charge more. Each time you show, your work will be better known, and over time your prices will rise.
When I first started painting, I used to factor in two things Iâve since learned are totally irrelevant: how much time Iâd spent, and how good I thought it was. Frequently Iâll struggle with a canvas for months, working out a problem I donât even know I have, and the next painting will be faster, fresher, and more successful. Youâll also eventually realize youâre not the best judge of your own work. The work you think is brilliant may ring nobody elseâs bells, while the painting you considered tossing may actually sell very quickly.
August and September are sold out for my workshop at Lakewatch Manor in Rockland, ME. Join us in June, July and October, but please hurry! Check here for more information.