The ability on how to price your art is strenuous, especially for beginners. We all know that art value is priceless, but you still have to set a price for your artwork. Appraising artwork for beginners might be a little challenging, but here are some of a few tips you should know first in hand.
Know your Rate
We all work with an hourly or daily rate basis, and from there, as an artist, you should establish your working rate per hour or rate per square inch based on your expertise and skillsets. Being an artist is a broad-spectrum with art categories that contrast with others, which means artwork pricing varies per art category, piece, size, and medium. Before digging out to a more complex on how to price your art, we will start first in hand with your rate per hour or per square inch, know it first!
Know the Market Value
In tackling deeper on how to price your art as a new artist, we will back up with research. Part of the art market value research is to know your masterpiece first, identify your art category, and the medium used. Then research more on marketplaces and gallerist on how much they price the paintings that are the same as your artwork.
It is vital and valuable to do research and study your competitors’ pricing techniques. You can get tons of information from there and explore more on the art of selling as well.
Know your Art
As a painter working on your masterpiece, you, as a painter, are your conceptual knowledge that you should know your artwork. It is your masterpiece, and it is pretty much sure that you master it on hours to days or to weeks of working it.
By knowing your artwork, you have distinguished unique mediums as you work on it. There are also valuable parts to identify that depict the canvas like a roller-coaster of emotions, brushing styles, various elements used, art experiment, and the like. These are vital parts to identify your artwork cost.
After knowing all the major factors that are helpful in on how to price your art, the next step is to identify the artwork category. Fine art and digital art are way too distinctive from each other. These are two types of art wherefrom its materials down to its medium, styles and creative process are contrast, including the artwork price formula.
Pricing Fine Art
Pricing paintings come with the basic to know information plus the artwork dimension. Determining the price for original artwork is multiplying the artwork width by its length to arrive at the total size, in square inches.
Then multiply it to your professional rate per square inches. Here is a simple formula for your guide.
- 16” x 20” = 320 square inches
- 320 x 6 = $1,920
(Professional Fee is $6 per square inch)
Pricing Digital Art
It is always a prerequisite to gather the basic to know how to price your art, either pricing a fine art or digital art. For pricing a digital artwork, this is by multiplying your professional rate by the number of hours you spent completing your graphic piece. Here is the formula to show you how.
$20 x 15 hours = $300
(Professional Fee is $20 per hour)
