I am a photographer and a self taught artist (for relaxation) and have had people asking how much for some of my work which I say is not for sale, for I have no idea. I sold one piece for 250, (it was an oil) because that is what the guy offered. Now I've been asked to display and sale my pieces at a local library that show cases artists and another invitation only show in July. I don't have a clue as to how to go about pricing them. All are 11 x 14's Can someone assist me with this. Do you have a pricing formula? The 'artfest' at the library takes 20% and the show in July takes 30% of the sales. I understand that you mark them up but both shows will be about 30 miles apart, I would think you would want the price to be the same at both places. If anyone can educate me on how to go about pricing I would greatly appreciate it.

Yes, you should establish a retail price for certain sizes of your paintings.

First off, take the cost of your paper/canvas and framing and increase that by 30% so you get that money returned to you in the event of the sale.

Also, try to keep your prices as low as you can and yet make a profit. Usually, what I do is decide how much I want for the painting (without the framing and material - in other words just for my labor and expertise). Because I work with galleries that take 50% commission, I simply double both the materials/framing costs and the price of what I want to get in the end.

People generally buy in price stages: For example, some will stop at $500 (retail), while others will stop at $1000. In non-gallery settings, high prices restrict sales. So in general, I'd recommend staying around and under the $500 mark. But do insure that you will make a profit at the same time. $250 for a framed 11x14 is reasonable, so if you can make a profit at that price, go for it.

Remember, that pricing is a difficult and confusing process for any artist and requires study of the market. So, please don't take my advice as FACT. It's just a starting place for you to begin thinking about how the system works.

Hi Deddlebug,
I agree with LW Simons. I've only been selling my artwork for a year. I read several art marketing books and articles and came up with a formula to start with. But, the first thing I did, was Google local area watercolor artists and galleries to see what art in my area was selling for. I checked sizes and related prices to find a correlation. I came up with a general square-inch figure of established area artists, or at least those artists in my state. I reduced that square inch figure by a little, since I'm just getting started and wanted sells. This figure does not include the framing or any outside expenses, just the painting itself--I added those on top. (I like the idea LW Simons had of increasing it by 30%--your time in getting them framed is worth something) Also, if the painting was particularly difficult, I have an increased figure for that. A commissioned portrait of a single subject would be triple the base cost, etc.

I think you are right, that the price should be the same at both places. Everything that I have read says your website prices should match a gallery's price, should match a show's price, etc. to be consistent. Otherwise you'll confuse your customers.

I concur that you should keep your prices as low as possible to start and don't raise them for at least a year, or until you get so busy you can't keep up with the load. I have had friends that insist on keeping their prices high, but they aren't getting any sales. I want to move my art so I can go out and paint other things. I don't need a basement full of my artwork.

Another tip, don't sell your very best work--you may want it, or family may want it, or you may want to enter it into a competition down the road. When I'm pleased with one of my works, I try to paint another one right away and chose the best, keep the other for sales. Some people don't like to do their paintings again, but it helps me to perfect my painting process.

Hope that helps!
You can visit my website at:
Watercolor Designs or my blog at:
Blog.watercolordesigns.com

I am very thankful for both of your replies. I would of thanked you both sooner but was involved in setting up a show. Again thank you

Thank you both for your input. Sorry it has taken so long to get back to you but was involved in setting up a showing. Judy, I looked at your website and became an instant admirer of your work. I wish you much success.

Thanks, Deddlebug. Sounds like you're busy with shows. Good luck!