How do you set a $ Price on a painting?

[Jeffery Doherty]

My big problem as a painter is trying to work out what price to set for a painting. This gives me nightmares. How do other artists work out prices.

Is it on size?

How long the painting took to do?

How well it turned out?

 

Any suggestions would be welcomed.

 

 

Jeff

 

[Roena King]

Jeff, I have only heard of 2 professional artist and they used price per square inch. Back when I sold, my prices kept going up because if I liked it well enough to want to keep it and did not care if it sold or not, I would just put a higher price. I know that is not really any help to you. I guess, if you are not well known by winning shows and all, then go to places where they sell art and look for art that you consider to be similar in quality as to what you are trying to sell then look at price and size. If it is in a gallery, the artist's price is some % lower. It is whatever the market will bear. Good luck. Ro

[terry clare]

Hi Jeff, The price per sq.inch is a good way to go, with the price per sqare going down as the painting gets larger. Add a quality percent depending on how good you think the painting is, This is the end amount you will recieve. Add the cost of the frame. Add the galleries commission. Yes they get a commission on your frame. (Remember if they get one third then double the price) Add tax and insurance if applicable. You can make up a rough chart and upgrade the margins once a year. If you increase your prices it is attractive for investment buyers. Be careful to not price yourself out of the market. Compound interest adds up quickly, Terry

[Jeffery Doherty]

Thanks Roena,

I had that experience with a watercolour I did. I didn't really want to sell it so I put $500 on it. The guy who brought it didn't even hesitate. I think size is the go. Thanks.

Jeff

Roena King said:

Jeff, I have only heard of 2 professional artist and they used price per square inch. Back when I sold, my prices kept going up because if I liked it well enough to want to keep it and did not care if it sold or not, I would just put a higher price. I know that is not really any help to you. I guess, if you are not well known by winning shows and all, then go to places where they sell art and look for art that you consider to be similar in quality as to what you are trying to sell then look at price and size. If it is in a gallery, the artist's price is some % lower. It is whatever the market will bear. Good luck. Ro

[Jeffery Doherty]

Thanks for the advice Terry. Size + Framing + Gallery Commission + Quality bonus. I think that is a pretty fair equation. You have been a big help and I think the chart idea is definitely worth doing.

I'm going to have to find some bigger leaves! :)

Jeff

[Roena King]

I have to tell you, Jeffrey, that at the last place we were at in New Mexico, they had some type of tree where the bark was pealing off in odd shapes and sizes, althought it might not be any larger than your leaves. J, you just need to drive around and look at everything and think out of the box. I guess if it (the thing) was a suitable size and intersting shape, you could treat the surface with gesso to make it where you could paint on it. Another thought.......how about painting many leaves that could be arranged overlaping to be the size you desire, and maybe raised to different levels (3D) as well. Keep me informed if you thing of anything or it works. Fun..........Ro

[Holly Pilgrim]

I just hung a painting in a show that I really loved, and didn't especially want to see go - so I put a high price on it, and it sold right away... now, I know that won't happen EVERY time, but if I like something, I don't want to be sad when it sells. Sooo I try to price accordingly. I also take into account the frame, and the size...

Naming, framing, and setting a price are all HARD :-)

Holly

[terry clare]

Nobel (Art Prize) was a great art benefactor here in ossie. Any relationship there Pete. I took some lessons from James Wynne for a cupla years, sadly no relation to the Wynne Prze, missed out agin. I am a pensioner these days and thankfullly am being supported by Julia. Now I have the time and just enough brass if I'm careful, sadly the energy aint what it was once. I wonder how young artists can survive these days wot with the price of paint and accessories. A professional has to factor in overheads like previous art lessons, depreciation on house and equipment, bad debts, magazine and society fees, stolen art work, broken frames and if you give lessons stolen or donated brushes and paint, just to mention a few. How about a new blog on having a shopping cart added to Complete Artist for the strugglers and battlers out there starving in their garrets who don't have a web site. Could be the next big thing if Richard could see a way, alas though it may cost a bit more. Terry
Peter F Noble said:

I am starting to feel sorry for artist that have to sell art to eat. Where is all the fun?
I just enjoy painting and creating something that is interesting to others. Sure it is good to sell one now and then but after a 45 year career in another field I just want to chill out and enjoy my grand kids.
Holly join a painting group and have FUN :-)))))

[Jeffery Doherty]

These are all really good points and I am thankful for the advice and comments from everyone. I think it helped with the pricing of my leaf paintings. Though I still think I might have set it too cheep. I've priced them at $55.00 each (framed) and I sold two this week and have commission orders for two more.

I'm very happy.

Jeff

[Jeffery Doherty]

Thank you Terry, that means a lot to me coming from a tallented artist like yourself. I had an exhibition a few years ago but stopped painting for a couple of years. I've only just got back into it and only just started selling again. I think I'll leave the price as it is for a while, at least for the leaf paintings. They are fairly quick and fun to paint. I'll set larger paintings higher though.

Jeff

[Jeffery Doherty]

$16,000 for one work - you've got to love wealthy friends. Although to pay that, I'm sure he sees value in your work. Now you need to become famous so he doesn't lose on his investment. ;)

Jeff



Peter F Noble said:

I was lucky enough to do a commission work last year for $16,000.00 but it was from a wealthy friend who wanted to give me a break. Luckily he loved it and he buys a lot of expensive art but mine is still his favorite. (it took me 6 months on and of)
Apart from that I go in art shows reguarly und usually sell one or two for around the 4-$500 mark.

[Veronica Summers]

Jeffery Doherty said:

These are all really good points and I am thankful for the advice and comments from everyone. I think it helped with the pricing of my leaf paintings. Though I still think I might have set it too cheep. I've priced them at $55.00 each (framed) and I sold two this week and have commission orders for two more.

I'm very happy.

Jeff

...when something becomes too cheap, and orders are building it is then better to raise the price to slow down the demand, this will determine your cap and your own instinct has mentioned them being too cheap as well. Listen to your intution))

[Randy Fanger]

Hi Jeff.  I do things a little different.  Minimum $1 per minute.  If they want to spend money on something real detailed, I charge more.  If they are super nice, I give them extra time.  Keep in mind that most of the work I do is the idea of the client.  I just ask them colors they don't want to see, in the finished product.  Sometimes I tell them a complimentary color is necessary, and I want free reign on how it's done.  If they like a painting on my wall......all is negotiable.  I never let them be the art-director either.

Hope this helps too............RAF