Pricing is a funny thing. I have a basic platform for a good
starting point. Our philosophy is to help you feel confident about
giving a price for something rather than pulling a number out of thin
air. I certainly am not the authority on pricing but I may be able to
help you get a good start. Ultimately you will have to experiment and
discover what works best for you and your clients. But this may help. Pen, Paper, and a Calculator may come in handy for this exercise.
Read below then click this link to download the Art Pricing Calculator for Excel.
Consider your time and assign a value.
You will have to decide what you want to make per hour. We feel a
fair rate of art time should vary from $15-$100 depending on image
complexity and your skill level.
Track your materials and cost of production and mark it up.
The justification for marking up your materials is to both recover
your expenses on a project and be able to buy more to keep producing. A
typical markup on materials is between 15%-50%. Some expenses some
people forget to factor into the formula is gas, phone calls,
electricity, paints, brushes, travel expenses, and many others. You
really just need to think about everything involved in bringing an image
to the world.
Supply and demand
There is one more thing to remember, if you have any image that sells better than others the price may need to be adjusted up.
click this link to download the Art Pricing Calculator for Excel
If you cant download the spreadsheet or wish to do the math
manually, below are the Pricing Formulas GRAB A CALCULATOR AND SOME
PAPER (Just trust the math, I promise it works. If it gets
too confusing read more below…. if you are still confused…. call
Original painting asking price = Time+ marked up expenses
Retail Pricing for a Gallery = (100 multiplied by your price) divided by (100 minus gallery commission)
Again, this is not the end all solution to pricing. You may even find
a few math shortcuts in the process that work better for you. Some of
this is the longer way to figure the math but it is precise. Please let