IS THE PRICE RIGHT? Part 2.


Another early (1987) drawing featuring a ‘stick jam’ on the St. Patrick’s River, in North Eastern Tasmania. 

Artists who win awards and commendations can expect to ask for higher prices each year. A 10% per annum increase is justifiable if you are receiving judges’ acclaim on a regular basis, or simply that your standard is improving.

At the end of the day, it’s the art buyers who have the final say.

Today’s economy is tough, especially on artists. We need to set fair prices but ensure that our standards are high. Gone are the good years when art was very popular and sales were strong.

The more experiences and challenges an artist (usually) has, the better they get. Artists need to enter exhibitions and competitions and face assessment by their peers if they are to gauge their own value (and place) in the world of art.

With accolades comes respect with respect comes higher asking prices! Original art will always be valued, whereas copies won’t.

Be prepared to take risks and exhibit your work in the public arena. Seek constructive criticism wherever possible. Listen to what is said about your work and be prepared to undertake change if and when necessary. Always try to be yourself, be unique, be consistent and always aim high. Your next painting will be the best you’ve ever done!

Hard work and a positive outlook will be rewarded. To quote, “it may not happen overnight, but it will happen”.

How do you work out a price for your art?

There are 3 ‘major players’ and one ‘minor’ player involved in determining how much you should charge for one of your paintings. The commission, the cost of framing, what you earn for your effort and the cost of art materials make up the total retail price of your work. I have found over the years that this equates to about one third to the framer, one third to the selling agent and one third to the artist. Framers usually get the best deal! This formula doesn’t apply to work that commands a high price, but it’s one worth considering.

On Wednesday I will reveal my pricing formula.

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About artkleko

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

  1. April says:

    Great post Richard. Thank you for sharing your expertise….

  2. Tomas says:

    Everything you write about the pricing look logical and right. Therefore that put me into some confusion, because while agreeing with you, I never priced my works such way. I was just happy if someone liked my pictures. I would be happy to get though something – as much as the viewers think they are worthy or can allow themselves to pay to me.
    I understand that such approach may look a bit silly, but my paintings aren’t my business. They are the way I communicate with people (the way I accept myself and accept (understand) Thank You.
    Greetings always are only for a free, isn’t’ it?
    Yes, it may be hard to others to accept (to follow) my position, because it may look like irresponsible. And they would be right – looking from the professional viewpoint, but I am not the artist who earn for living with his work, but just the incurable disabler who love to muse with his paintbrush. I think that my nickname Art of Butterfly in Plaster needs no more comments.
    I apologize for my useless musings and Thank you for the sharing of your insights on how people should live in case they wish to be successful.

    • artkleko says:

      What a great reply, Tomas! You are right in all that you say. One doesn’t have to always sell their art to the highest bidder. Whatever you are happy with in regards to the price you receive for your work is entirely up to you. Art is about creating something for yourself. The bonus is when someone else likes your work and the next accolade is when they buy it from you.
      Thank you Tomas for your words of honesty and wisdom.

  3. Gillian says:

    Excellent advice, as always, Richard. A very tricky area.

    I do enjoy seeing your earlier work too!

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