Pricing Formulas for Artwork
- Use your basic hourly rate to begin with.
- Add the cost of materials.
- Pay yourself a reasonable hourly wage.
- Prices for a highly realistic drawing start at $400.
- Prices for a semi realistic drawing start at $250.
- If a piece took 10 hours, aim for $15 per hour, materials cost $45, start at $195.
Commission Pricing Guidelines
- Calculate the time it would take.
- Value time as an artist.
- Set raw price accordingly.
Artwork Pricing Considerations
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Pick a pricing formula applicable to all artworks.
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Charge by time or time and materials.
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Price difference between mediums is not significant over time.
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Time taken may vary.
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Emerging artists offer affordable rates.
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Established artists charge higher rates.
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Determine your rate as an artist.
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Width multiplied by length gives size in square inches.
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Double framing and materials cost; add to get retail price.
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Example calculation for determining retail price.
Additional Art Pricing Tips
- Get critiques for improvement.
- Consider market demand, skill level, and experience in pricing.
- Use formulas to guide pricing and attract buyers.
Marketing and Advertising
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