Pricing Artwork

Establishing the retail value of artwork is one of the most confusing tasks a beginning artist can undertake. There are many possible approaches to this problem and I plan to discuss a couple of the most basic within the text of this article. The methods outlined below have their foundation in substantive factors and leave emotional attachment out. Pricing artwork based upon how “good” an artist thinks it is leads to a very sloppy and inconsistent approach that can leave collectors confused.

Whether one is a seasoned professional or a rank amateur, it is often pertinent to survey the current marketplace to discover what similar artists are using as a pricing model. If your peers are selling their work for much less than what you are expecting to receive, you might think about adjusting your prices appropriately. If, however, you seem to price your artwork lower than pieces of equal quality, your prices may need a slight increase. Bear in mind, however, that the price of art can often be affected by an artist’s reputation in the marketplace. Just because you create work that is perceived to be as good or better than a given medium’s master, doesn't mean your paintings will sell for millions of dollars.

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