Confused about how to price your artwork? You’re not alone—but there’s a proven method that will give you confidence, save you from underpricing, and make your work more desirable to buyers. Let’s break it down.
An Article by Charles Merritt Houghton
15 January 2025
Pricing your art right isn’t just about covering costs. It’s about how you position yourself in the market and how collectors and customers perceive your work. If the price is too low, you send the wrong message; if the price is too high, you might alienate buyers.
What Happens When You Get It Wrong
Undervaluing your work: Sends the message that you don’t believe in your skill.
Inviting negotiation: Low prices encourage buyers to haggle, further devaluing your work.
Losing credibility: Professionals should price like professionals. Low pricing suggests amateur status.
My Simple Approach to Pricing Art
Study the market: Visit local galleries. Find pieces that match your skill and medium (especially in watercolor or water media).
Price per square inch: Calculate the price based on the size of the artwork. For example, if a 20” x 30” piece is $3,000, divide the price by 600 (square inches) to get $5 per square inch.
Adjust for direct sales: Galleries usually take 50% commission. When selling directly, cut your price by 50%, giving buyers a fair deal and making it clear they’re saving on gallery fees.
Example Calculation
Gallery price: $3,000 for a 20” x 30” piece = $5 per square inch.
Your direct price is $2.50 per square inch.
For an 11” x 14” piece: 154 square inches x $2.50 = $385 (round up to get $400).
For a 30” x 54” piece: 1,620 square inches x $2.50 = $4,050.
Actionable Tips
Understand your market: Visit galleries, art fairs, or online marketplaces for comparable work.
Use a price-per-square-inch model: It’s straightforward, scalable, and easy to explain.
Adjust for gallery vs. direct sales: Factor in commissions or sell directly at a fair discount.
Value your time and materials: Make sure your pricing covers materials and your effort.
Don’t underprice: Collectors take you seriously when your prices reflect the quality of your work.
Stay consistent: Use a formula that works for all your pieces. Inconsistent pricing confuses buyers.
Final Thought: Keep It Simple
Pricing doesn’t have to be complicated. Use this straightforward method to price confidently and fairly, ensuring you value your work and make it accessible to buyers.
Comments