IS THE PRICE RIGHT? Part 1.


Today’s featured drawing shows some of Tasmania’s magnificent West Coast and was produced in my ‘early’ coloured pencil drawing days.

Moving around Far North Queensland has resulted in me seeing a lot of art of all descriptions. As you would expect, the standard has been varied, but it’s pleasing to see that the artists identify strongly with their surroundings. Not all the work I’ve seen has been ‘traditional’. I was pleasantly surprised with the amount of abstract art that’s out there.

There is a huge range when it comes to the asking price of these artworks. Some are excellent value for money others are ‘way over the top’. Why is this so? There could be one (or more) of a number of reasons.

Pricing one’s artwork is not an easy task. Let’s face it, we’d be happy if we sold everything we created, especially if we received an enormous sum for each artwork, but that’s just fantasy. In the real world artists face increasing competition from each other and other media, the ever spiralling cost of living and a decrease in people’s appreciation of art as a collectible consumer object.

So how do you price your art?

Firstly one needs to see what is going on in one’s area art-wise; what is being exhibited, by whom, their experience, their technique, presentation and each artwork’s value for money need to be considered. What qualifications and awards have these exhibiting artists achieved? What do their peers think of them?

This doesn’t mean that self-trained artists aren’t valued. Some of the best art I’ve seen is from self-taught practitioners. I value my formal training at the Tasmanian School of Art as it gave me the confidence to develop my skills during my art  teaching career. Being guided by other artists is a positive step in one’s development as an artist. People see you differently to how you see yourself. You may not always agree with them, but it’s good to get feedback and be shown new ways of seeing and new techniques that can (possibly) enhance your artwork.

Having a good ‘track record’ gives art buyers greater confidence and you as an artist a more reliable guide when comparing your own work to that of established artists.

Emerging artists should start humbly when first exhibiting their work. One needs to ‘earn’ one’s asking price. It’s important that you ‘sell’ your work and not price it out of the reach or interest of potential buyers. Those who are experienced art purchasers know when the price is right. Never price your work the same (or higher) than established artists. If you’re good enough, some of your buyers will become collectors of your work.

Part 2., on Monday.

Richard

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About artkleko

artist, art curator, art teacher, art judge, art critic
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2 Responses to IS THE PRICE RIGHT? Part 1.

  1. April says:

    A very good post. How to price work has been a thorn in my side for years. I was fortunate I pitched it right for my buyers and myself ~ though in the eyes of my peers I undersold myself on a few occasions.
    It is something you have to learn with time for sure.
    Also interesting is how your peers see you professional/semi/amateur compared to how you see yourself. Depending on which model you follow (in UK you’re pro artist if you generate an income from it, in other countries it’s how your peers see you) your status definitely can determine cost. I lke the quality to speak for itself. The label can come after!

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