Every artist sooner or later will face the nr. 1 question when it comes to selling your art: “HOW DO I SET THE PRICE OF MY ARTWORK?”
I’ve been there guys, and sometimes I still am.
Pricing your own artwork is one of the most challenging things to do because there is no right or wrong answer. You are not selling food or some kind of accessory that you can buy in any drug store.
You are selling art, your time and most important you are selling your talent.
Pricing is a highly personal choice, and there are so many factors that go into determining the price of your artwork, but keep in mind that whatever your price is, don’t be afraid to state your terms and stick to them.
Believe me, this will help you avoid a lot of uncomfortable situations, misunderstandings and resentments.
Also, don’t be afraid to lose a commission. Don’t ever underprice your work because you will end up hating what you do. And if you feel like you really want to work for that client and you are willing to earn little to no money it’s ok, it’s your life, again, do it because it makes you happy. Otherwise, you will hate that job and that client.
At the very end, the experience is what will help you get better in pricing your work, so don’t get depressed if something goes unplanned.
That said, let’s dive into this pricing thing and see what happens.
TYPES OF ART
First of all, let’s talk about the four types of artwork you can create:
Selling an artwork you have already created
Selling prints of your artwork
Creating something commissioned by a client
Collaboration with a company for product design
I’m dividing the subjects into these categories because you may want to apply different methods for them.
The main pricing methods are:
- Flat rate
- Hourly rate
- Royalties (used for licensing)
You can choose one of them or mix them up to create your winning formula.
If you are just at the beginning of your career you may want to ask your client what they prefer and then choose accordingly.
First of all, DON’T BE AFRAID TO ASK YOUR CLIENT WHAT HIS BUDGET IS.
This is something that took me a really long time to realise. I thought that I would have sounded unprofessional, but then I found out that many artists do that. In fact, it’s good to know whether you and your client see eye-to-eye from the start.
Then estimate your costs and choose the pricing method. All these things will help you set the price of your artwork
To learn more about my pricing formula and all the details about pricing artworks, you can dowload my cheatsheet here.
In this free cheatsheet I show you how to set the price of your artwork whether you are selling it or using it for company collaborations.
I hope it helps you get the confidence you need.
How to Set the Price of Your Artwork
September 30, 2020