Pricing your Artwork: Part One

February 18, 2022 – Written by Bethany Fields

“How do you begin to price your work?” is a very common question, especially for new artists dipping their toe into sales. Maybe someone has shown interest in buying a piece and you have no idea where to start?

Carbothello Pencils

As I sat down to write this post, I thought it would be a short “this is what I do” but quickly realized I have a lot to say on the subject.  I’ll be sharing a part one and part two on pricing!

This post winds around my personal selling testimony.  I will add to this conversation in future posts, as there is so much more to say.  Feel free to ask questions and weigh my advice with what will work for you. Many artists are successful in sales of all kinds and there are many ways to make money from your work.

My story is just one piece of the pie.

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If you’re here, you may be wondering how much your work is worth.  How will you get paid? How to sell?

And where to sell? Online? In a market like fineartamerica? or etsy? dailypaintworks? A gallery? Or somewhere else?

Baker’s Twine | Small Clothespins

Over the years, I have experimented and tested most of these methods of selling. Each has its advantages and disadvantages. Currently, I’m independently selling work out of my studio. This works for me in my current season, though I’m always fluctuating and open to new ideas and new sources. There is a huge market for art and it is being sold in many forms and in many ways.  Your job (if you’re interested in selling) is to dip your toe in and decide what works for you!

Things to consider:

• How does my art compare skill wise in my market/region?
• How much work am I willing to put into marketing and active selling?
• Do I already have an established clientele?
• Are people asking me where to purchase?
• How are people finding me and seeing my work?

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I first began seriously selling my paintings about 8 years ago after taking my painting hiatus from 2009-2014 (for my painting story see this older post from 2019). I was new, inexperienced, and in love with it all. After getting questions about selling my work, an established artist and friend advised me to price my paintings by the square inch, keeping in mind to also set a minimum price. I had no idea where to start but thought $1 per square inch wasn’t quite enough. The paintings I was producing were tiny (around 5×5”) and I didn’t want to charge just $25 for a painting. This is where the minimum pricing helped me.

I took a step back to objectively look at my work and thought “what would I pay for this?” – A question I have come to think of as a “filter thought.”  This filter thought changes my perspective and helps me think in a different way, removing myself emotionally.

I look at the piece not as the maker, but as the client.  I am brutally honest with myself as I step back and remove the attachment I have to my paintings.

Chalkboard | Acrylic Inks | Glass Jars

I have continued to price by the square inch all these years, though I’ve given myself little pay raises over time (more on that in part two of this post).

Pricing by the square inch makes sense to your buyers and removes the emotional “but that’s my favorite painting!” pricing equation.

Townsend Terrages | Unison Pastels | Rembrandt Pastels | Gap Filler Foam

I first began selling at small local galleries in small open exhibits. An “open” exhibit is usually a show where anyone can hang a painting during the event…they are not juried.

A great place to research open exhibit events is to ask around at your local frame shop, community college, and art community centers. My local art museum has one every January and it’s wonderful! Where else can a 4 year old hang their beautiful work alongside seasoned professionals?

These are wonderful testing grounds as they have a dedicated clientele, wall space doesn’t have to be rented, and you can hang your work with other artists in your area.

Look around and these events and research those local art galleries and community college art shows.  Anywhere there are artists, that’s your research group!

1. Evaluate what these artists are charging and how much the art is moving.
2. Make yourself available to attend openings in your area and case out the joint. If you find someone you think is a comparable artist, what are they charging at these openings?
3. Collect business cards and visit websites.
4. Spend some time on the internet looking at artists who are selling directly.
5. Compare this pricing to your region and critically think “would people in my area support this price?” This point is especially important when you’re new to selling. 

Depending on where you live, art may be more or less expensive. Major market cities generally support a higher wage across the board and this means higher psi (per square inch) pricing. In your beginning stages, I recommend researching local artists and galleries to determine your psi. Comparing my region of Texas to areas in the Northeast, for example, would confuse pricing. Especially as you establish yourself in your market, tread lightly and carefully. You can always increase your psi! It’s not a great look to reduce your pricing because of overvaluation. (unless you’re having a studio sale, which can be done! More on that later!).

If you are new to selling and art, I would suggest you being humbly and start at a lower end of the psi ratio you’ve researched. In addition, set your minimum pricing.

I’ll explain it like this:

Say you have a 6×8 that someone is interested in.  If, in the early stages your minimum pricing is $2psi, your painting would be $96.  However, if you set a minimum price of $150 for all small pieces (say, under 8×10) then you’ve had a better pay day! If your paintings are being snatched up right and left, raise the psi slightly.

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Obviously, the numbers above are merely examples. I am not trying to talk you into undervaluing your work. Just remember, if you start too high in your pricing, you risk turning away sales.  Take into consideration your experience, exhibits you’ve been in (are they national? juried? local?) and any awards you’ve won.

These small boosts in professional recognition all demand a pay raise.  Add $.25, $.50, or $1 for these boosts as they come. Accomplishments should be rewarded!

Remember it is very hard to go down in price once you’ve set it. Lowering pricing doesn’t look good for your collectors who have paid the premium. Galleries absolutely hate it as it undermines their work. We’ll talk about galleries and having open studio sales in a future post!