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7 Golden Rules for Pricing your Artwork

7 Golden Rules for Pricing your Artwork

Artist doesn't just create art - they create a fictional reality to live in. A portrayal of life in an intricate manner. But living the life of an artist is not easy. Art is like breathing, wherein money is the oxygen for survival. Andy Warhol, the pop art pioneer, perfectly said - “ Making money is art and working is art and good business is the best art.”

Pricing is an important aspect of an artist life as its entire progression is dependent on this one factor. So how do you learn the rules of pricing your art? With this blog, explore ways to rightly price your art, while maintaining your work’s worth of the efforts required behind it.

  1. Compare the rates

It is important to acknowledge your own created art. But also being delusional on pricing doesn't help in the cause. We have all been blessed with the boon if the Internet. Hence to get fair idea research, understand and compare the similar artists their art with yours. Also, every artist has their own art groups. So do not feel inferior to ask your successful friends about how they do the pricing and understand where and how they did their research.

  1. Living demands cash

It's important to understand that your art should make a viable amount for one’s survival. Money is the only surviving tool when it comes to living with ease. Since artists don't have a particular day job and art is only a viable source, it’s a need to earn regular wages for your art without any dichotomy and transitioning.

  1. Consistent pricing is a must

Consistent pricing is your way to reach higher limits and justify the pricing of your art. It should not fluctuate between studio and galleries and keep varying constantly. Galleries tend to charge 50% that the actual price and gain the profit but that makes you put up for an accurate price ranging and it should also be considered that the pricing is not too heavy for the studio when you price it for the gallery.   Or else it can be misinterpreted for a copy or fake art and may reduce the sale of your art due to inconsistent pricing.

  1. Feelings are not facts

Don't let feelings overpower your senses of pricing. Pricing is an important aspect and feelings can critically affect your notion of the right charge for your art. It is a need to know what your art is worth and not attaching any feeling while adding the price to it. If you're too much attached to a particular art, you should never put it out for sale.

  1. One shoe doesn’t fit all

You have to be obliged to have a price range varying according to your art. Not every art form and art piece can cost the same value. The price range can differ with the size, shape and design.

Many intend to use the price formula and calculate the right price for the artwork available.

  1. Transparency is a must

Maintaining transparency about the prices of your artwork with your customers is very important. As without transparency, it becomes hard for one to achieve a loyal base of customers as the prices approach every individual different manner from one other. Also up fronting your prices on the selling desk with the prices, shows your integrity and belief you hold in your art. It also gives the side of your confidence in regarding the artwork and its right value.

  1. Confidence is the key

Confidence in the pricing of your own art is a very important aspect. It generally occurs that a question of - ‘ why this so expensive?’ will arise always. You must be always ready to justify and have a standard answer to them. This not only helps you to sell it but exuberates the confidence you have in your artwork.

Posted By Jubey

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