"Paintings With Personality"

I like to pay our bills online, it’s easier that way and Honey and I get flight miles when we use our credit card. The other day when our water bill arrived in the mail, it was $18.46, and I went online, to pay it. The bill on the computer was $15.14. That was a no brainer, I paid the $15+ rather than the $18+. I trusted the computer more than the paper in my hand. The very next day another water bill came, same date, same everything as the first bill! This time it was $15.14, so now, I have two paper copies of my water bill, same dates but different amounts and one amount already paid! They needed to be more careful.

Artists also need to be careful when pricing their art. People don’t like it when there are discrepancies in the cost of things they purchase. They like to know what they’re getting and the exact price. There are several things artists can do to simplify the pricing process for themselves and to make it more understandable for the buyer. I have listed some of them below.

1. First, find your base price, look at overhead, materials, labor, and most importantly, what the market will bear. Observe what other artists in your area are doing and keep your prices about the same. And, be able to explain your pricing system to anyone who asks.
2. Decide on a criteria for pricing, such as difficulty, subject matter, size, and etc. Never price your work based on anything subjective. Many painters use size criteria for pricing their art. For example, if they decide on $3.00 per square inch. If a canvas is 660 square inches. 660X$3.00 = $1,980 which they would round up to $2000.
3. When you have decided on a pricing system, stick with it, and make your prices visible. If you change them, make sure the correct price is everywhere. I have a friend who found a price different from what she paid on the back of a painting she bought.
4. Think twice before raising or lowering your prices. Customers don’t trust costs that fluctuate. Raise your prices if your work has sold very well during the year, or if you can’t keep up with the demand for your work. Don’t lower your prices unless absolutely necessary. Lowering your prices makes it look like you aren’t certain of your work or yourself. When the economy is slow, don’t raise or lower your prices, just keep them the same.
5. A broad range of prices will provide the opportunity to get more customers. Collectors like to begin buying small and eventually move up to purchasing large pieces.

Prices fluctuate, so stay aware of the art market and what other artists are doing. The better prepared you are, the better your sales will be.

By the way, when he was out, Honey stopped by the municipal building to ask them about the water bill. All they said was the $15.14 was correct nothing about the other bill. Oh Brother!

How do you price your art and how is the method working? Please comment below.   

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