How much is your art worth? How do you determine what the asking price is for your works of art? If you are interested in selling your art but don’t know what to ask for it, I believe the key to pricing artwork is by doing a little bit of market research. And the first place to start your research is by finding other similar artists in your media. This task can be accomplished by two methods. One is using the Internet and the other is by physically visiting places where artwork like yours is being displayed for sale.
Go to Google or any other search engine and type in the type of artwork that you do, such as, “oil paintings”, “stain glass windows”, or “ceramic figurines”, for example. Visit the sites of these other artists and see what they are charging for similar quality and size work as yours.
Another place to do some market research online is eBay and other auction sites. These sites will help provide a realistic viewpoint of what is available and what people are actually willing to pay for art like yours. You want to find out the winning bids. This will give you insight as to what people are paying for the type of work you do. Some other sites to investigate could be Etsy, Amazon or Fine Art America, to name but a few.
Research on Foot
Visit art galleries in person to find artworks similar to yours. Keep in mind these works of art will be priced much higher to include commissions for the gallery owner. The artists will also be more well-known and will naturally command higher prices just on the basis of who they are. The gallery visit will give you a good feel of how much the higher end pieces are going for in the marketplace and will give you a price point to shoot for once you become more well known as an artist.
You will also want to go to local art shows and craft fairs to find out what other artists in your media are selling their work for. Ask the vendors lots of questions and take notes. Don’t neglect visiting the art studios of local artists. You can learn a lot when you talk directly to the artist, see the quality of the work they do and listen to what they can tell you about where and how they market their work.
By using this two-step method you’ll be well on your way to figuring out the ideal price to charge for your artwork. All it takes is a little bit of research, some market testing and tweaking. There are no hard and fast rules when it comes to pricing your artwork. Try to be subjective when pricing. Test your pricing structure and ask your potential customers what they would be willing to pay for pieces of art like yours. This will result in some valuable information and ultimately lead to sales. Keep in mind your art is only worth what others are willing to pay for it. Create value in your reputation as an artist and over time the public will be willing to pay more for your work.
Now that you have determined what the asking price is for your work, it is time to get busy and start marketing and selling your creative works. For more information on many of the different ways to market your works of art, see the article title “Ways To Market Your Artwork”.