A number of our members know and follow Bob Burridge for inspiration, down-to-earth art tips and intriguing demonstrations.
Lynne Ayers recently took part in his helpful online webinar, Artists in Action: Pricing Your Art. She took these notes and we have permission from Bob Burridge to share with you!
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PRICING YOUR ART – notes by Lynne Ayers based on Bob Burridge webinar May 2021
Pricing too high limits your market; too low devalues your work
Determine your pricing structure based on:
- Your level of experience
- Selling history
- Size of work
- The support the work is on—canvas, board, cradle board, paper etc
- Canvas, board and cradle board considered to be equal, including paper mounted on one of these; works on paper are less
Buyer sees a perceived value based on two things: size and medium – they understand paying more for something larger, and more for oil vs graphite.
Hierarchy of mediums—charge more for #1 and the least for #5
Price by square inch – gave example of $1.75/sq in
Keep emotions out of it—don’t charge more because you really like it or believe it’s better than piece B or because it took longer to complete.
The price you decide on per square inch can reflect what in your mind is fair for the effort involved—once decided upon, that per square inch price doesn’t change from painting to painting
Don’t raise prices just because works are selling – you’ll price yourself out of the market. Generally raise prices about 10% every three years ,though not recently based on current economy.
- Great way to close a sale
- Do not deliver work until paid in full
- No refunds if buyer changes mind.
Issue sales receipts
- Offers opportunity to get buyer’s name and address for your own mailing list
- Creates record of what’s sold, where, when, to whom.
Affixed to each work:
“This is an original painting created with professional conservation art materials protected under copyright laws and may only be reproduced with permission from the artist.” Signed and dated with year.
- Charge 25% more
- Require a 50% down payment
- Commission criteria sheet completed by buyer
- 10% to 25% less than the original for a print the same size as original
- Be cautious about selling prints before self-stablishing with sales of originals: people will want the prints and not the originals.