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How to price your art
With Artboost, you’re in charge when it comes to deciding how much to sell your art for. However, this can be one of the most challenging tasks, and deciding how much money your art is worth whilst still attracting buyers can become a delicate balancing act.
But it doesn’t need to be a stressful process. To help, we’ve put together our tips based on what we’ve seen and what we know, so you can get the best out of selling your art online.
Look at the market
Of course we all value art pieces on the individual merit, but it’s important to step slightly away from that canvas and consider the art world around you.
Have a browse through what’s for sale and what’s trending currently to get a rough idea of how much people are selling their art for. Pay careful attention to the size and medium of the artworks available as all of these factors will affect how much people feel their work is worth.
A good test is to think about how you feel about the prices in the market, compared to how you feel about your own work. Would the price you have in mind seem too high, or too low, in the market? If so, then it might be worth having a think about reviewing your price.
Remember to keep reputation in mind. Artists who have appeared in galleries or who have trended online (check out our instagram guides here) can generally charge more
Consider the medium and run
Unfortunately there’s no magic formula when it comes to pricing your artwork. But one easy shortcut is to think about the material cost and size of your work.
Some oil painters work out a sum based on a certain amount (usually 50 dkk to 100dkk) per 5cm², which would then be calculated on top of materials used and time spent- and this is certainly a good starting point. To help we've created a spread sheet, which can be found at the bottom of this article. It's a rough guide, but is there to help you factor in the costs and time it's taken you to create your brilliant art.
Something else to think about how many pieces you’re going to be producing. Of course, a unique artwork is going to justify a higher price compared to print run. But if a print run is what you’re looking to do, then how many?
If it’s a limited print run then again the price is going to be higher. Take a look at Artboost Limited to get a better picture of some exclusive run prints.
Don’t undersell yourself
It’s important to look at the market and take into account other pieces of art, but you should never undersell yourself.
Think about how much your time is worth. How many hours did you invest in your artwork? Whether your art is a hobby or your career, think about how much you’d expect to be paid for your time in other jobs.
Listen to your customers
Ultimately, your art is worth as much as people are willing to pay for it, so your greatest resource when it comes to pricing your art is other people.
Ask someone you trust what they think, and chat honestly to your customers about what they make of your prices. When you start out it could be a good idea to sell a number of pieces in different price categories.
Ultimately our advice is to not stress about pricing your art. There’s plenty of help at hand, and resources at your disposal. For example, Etsy produced an online spreadsheet to help guide their traders- and it’s definitely worth a look.
At Artboost, we want to make the process as easy as possible- and place the power in your hands, so what's stopping you from selling your artwork today?
We've put together an awesome easy-to-use spread sheet to help you roughly calculate how much to charge for your art. Check it out below!