Is your heart trembling for fear when someone asks about the price of your artwork?
My FREE CHEAT SHEET will help you with that. It shows exactly how to calculate the price for your artwork.
Have you ever been in this situation: at your exhibition you are discussing your painting with someone standing next to you. Then they ask you: ‘If I would be interested in buying your painting, what would the price be?’
Did you see that one coming? Are you ready to give your answer with confidence? Are you sure you will mention the right amount? I might have some answers for you.
Calculating the price for your artwork, is it difficult?
There are sufficient factors that will help you calculate the right price for your artwork. I have a great free cheatsheet that will help you make informed decisions.
Artists are emotional people (most of the time) and writing a price tag for an art piece can be an emotional thing. But let’s not be overwhelmed by emotions but make sensible decisions. There are a few factors to take into account…
The general formula to calculate the price for your artwork
There is this general formula to calculate an art price. It is rather simple: take the length and the width in centimeters/inches and multiply the one by the other. This makes a good start. This formula however does not cover all there is to be covered. There are some additional pricing factors that need to be included…
Your time is valuable!
So there is certainly a need to include that into your calculation. It is a good habit to keep the simplest administration on how much time you spent on a particular piece of art. Simply scribble the number of hours you spent on ideation, research, purchases, development, experimenting, client contact, and of course the creation of the work.
Next, it is a good habit to assign yourself an hourly rate. Now calculate the amount.
Costs of your materials and studio
Yes, the monthly rent of your studio must be covered also. And costs of your materials can vary a lot depending on which ones and the amounts you used.
What is your sales method?
Are you taking care of all the sales on a personal basis? And do you sell through: local art market, online shop? Are others representing you: physical gallery, or international art fair? Is there any commission you need to pay to others for selling your art?
By now you understand there is a lot more to take into your calculations. Download my free cheat sheet to read more about other aspects of calculating your price. And the so-called ‘artist experience factors’. These are 10 factors that define your experience as an artist. And yes…this experience needs to be expressed in your pricing.