As much as someone is willing to pay. This is true for most things one way or another, but specially when it comes to art, value is subjective.
Are you planning on selling only one? Or produce more? You can start at a high price and then reduce until it sells, or start at a low price and then increase for each new one you make. Or a mix, since your marketing and brand will affect your price over time. There’s literally books written about it.
Regarding the price at which to start, you can just make it up, or you can explore your competition in the marketplace you are selling. Same object, for example, might cost more in Etsy than in ebay, and even more at an art gallery.
Anoyhe approach you can use is add up the cost of materials, taxes, budget for marketing, etc and then use how long it takes you to make it. Then give yourself a salary you are happy with. If it doesn’t sell, you don’t have a business (because it’s operating at a loss although that will take many units to find out), if it sells above it, you have profit. You can pay yourself that profit or use it to improve the product/business.
Pricing is hard, it’s not a science, it’s messy. There’s a lot of ideas online, even whole books written about it.
Best of luck, those look gorgeous.
Try and have an hourly rate…..you can then advertise at that rate (plus materials). Tattoo design, people’s pets, unique commissions, caricatures (especially for weddings) are a great place to start.
I think there’s a strong element of luck…. I have artist friends who are still struggling to find their slot and others who are making a decent living and one who is making great money doing commercial stuff for an exhibitions company.
2 comments
As much as someone is willing to pay. This is true for most things one way or another, but specially when it comes to art, value is subjective.
Are you planning on selling only one? Or produce more? You can start at a high price and then reduce until it sells, or start at a low price and then increase for each new one you make. Or a mix, since your marketing and brand will affect your price over time. There’s literally books written about it.
Regarding the price at which to start, you can just make it up, or you can explore your competition in the marketplace you are selling. Same object, for example, might cost more in Etsy than in ebay, and even more at an art gallery.
Anoyhe approach you can use is add up the cost of materials, taxes, budget for marketing, etc and then use how long it takes you to make it. Then give yourself a salary you are happy with. If it doesn’t sell, you don’t have a business (because it’s operating at a loss although that will take many units to find out), if it sells above it, you have profit. You can pay yourself that profit or use it to improve the product/business.
Pricing is hard, it’s not a science, it’s messy. There’s a lot of ideas online, even whole books written about it.
Best of luck, those look gorgeous.
Try and have an hourly rate…..you can then advertise at that rate (plus materials). Tattoo design, people’s pets, unique commissions, caricatures (especially for weddings) are a great place to start.
I think there’s a strong element of luck…. I have artist friends who are still struggling to find their slot and others who are making a decent living and one who is making great money doing commercial stuff for an exhibitions company.
You have talent and don’t let art become chore.