How-much-should-I-chargeHave you ever looked at what you consider to be a mediocre piece of art that had a price tag in the thousands and wondered – $5,000 (or whatever cost in the thousands) for that???!

Have you ever looked at a piece of art that you adored and thought the same?

Or, are you the person that looks at the price of art and doesn’t bat an eyelash when you see that the price is five or even six figures?

In fact, the higher the better as far as you’re concerned. Your wallet is open and ready!

First off, let me say I’d love for you to spend some quality time with my artwork and make a purchase but as a newbie (I’ve been painting less that ten years) I often wonder if I am charging too little or too much for my pieces.

I’m sure I’m charging too little which means I’m cheating myself but who and where are these people who buy art worth thousands? Are my pieces even worth thousands of dollars? If I am being totally honest with myself, I don’t think so. Not yet.

Cleopatra Jones

Cleopatra Jones – She’s currently priced at $100. Should I charge more? Would you pay more?

I haven’t sold a piece in years (I don’t even remember what I charged for the pieces I’ve sold in the past but I’m sure it wasn’t enough) and I really have no idea who my art buying audience is and to be quite honest I’m not that educated or informed on how things really work in the art world but I’m learning.

What I do know is that I love to create art. Or at least I used to. My muse has been on strike but she’s starting to get tired of the fight.

Creating and selling art is a legitimate business, so there comes a time when you have to take your talent, work and time seriously so that you can go from starving to thriving.

Creatives can make a living from their work.

FOUR SIMPLE STEPS TO PRICING YOUR ART

Step 1: Define your market. Where do you sell your art? Do you sell locally, regionally, nationally or internationally? The art, artists and prices in your market are the ones you should pay the most attention to.

Step 2: Define your type of art. What kind of art do you make? What are its physical characteristics? In what ways is it similar to other art? How do you categorize it? If you paint abstracts, for example, what kind of abstracts, how would you describe them? This is the type of art that you want to generally focus on for comparison purposes.

Step 3: Determine which artists make art similar to yours either by researching online or visiting galleries, open studios or other venues and seeing their work in person. Pay particular attention to those artists who also have career accomplishments similar to yours, who’ve been making art about as long as you have, showing about as long as you have, selling about as long as you have and so on.

Step 4: See how much these similar artists charge for their art. Their prices will be good initial estimates of the prices you should charge for your art.

Learn more about pricing art by visiting ArtBusiness.com.

These 5 Street Art pieces are worth more than $1,000 each!
Multi Skull

Multi Skull by Seen – $1,500

I Love My Psy

I Love My Psy by Speedy Graphito – $4,000

Broken

Broken by Gregory Siff – $6,000

Journey 7

Journey #7 by Natasha June – $2,150

Liberty Head

Liberty Head by Peter Max – $6,000


What do you think? Would you shell out thousands for any of these pieces?

Leave your thoughts in the comments!