Circle of Life Original Painting by Drew Brophy
Even though I’ve been managing the art career of my husband Drew for over a decade, it wasn’t until recently that we established a solid pricing structure for Drew’s original artworks.
A couple of years ago when a collector would ask “how is Drew’s artwork priced?” I didn’t have a good answer – there was no real structure to our pricing. Now, there is, thanks to Lori Woodward’s wisdom. Now when someone asks, I can confidently say “we charge $1.50 per square inch plus frame costs. Commissions start at $2.50 per square inch.” When you have a structure that makes sense in a collector’s mind, they are more confident in buying your art.
One of the hardest decisions that artists have to make is how to price their works – pricing depends on so many factors: the popularity of the art, the medium used, the complexity and what the buyer is willing to pay. But there are some guidelines that you can follow.
How to Price your Artwork:
1 – Research galleries: Go out and see what’s being charged by artists that are at your level of work. Use that information as a guideline.
2 – Structure your prices: Once you have a structure that makes sense to anyone, pricing your work comes easy.
There are many ways to structure pricing. Some artists do it by size (i.e. a 16″ x 24″ is priced at $1800.00) and/or by medium (Oil paintings priced higher than acrylic).
The method that works for us is to charge by the square inch and then add the cost of the frame. This method is explained in the article below, written by Lori Woodward. Her wisdom helped me tremendously with pricing. And I hope that it helps you, too. I highly recommend it! (I also recommend visiting FineArtViews blog for other articles on pricing art. Click here.)
REPRINTED COURTESY OF FineArtViews
Today’s Post is by Lori Woodward, Regular contributing writer for FineArtViews. She is also a contributing editor for American Artist’s Watercolor and Workshop magazines and she writes “The Artist’s Life” blog on American Artists’ Forum. Lori is a member of The Putney Painters, an invitational group that paints under the direction of Richard Schmid and Nancy Guzik. Find out how you can be a guest author.
Learning From My Professional Friends
Years ago, when I first started selling my work at outdoor shows, I looked to my friend,Monique Sakellarios for advice on pricing my artwork. After all, Monique had been selling her work successfully for several years at both outdoor shows and galleries; she was, and is, making the kind of income many of us only dream of. At the time, Monique priced her work by size. When she had a good selling year, she boosted her retail prices by 10%. If the economy was slow, she opted to maintain the same price scale she had used the previous year.
I asked Monique if she priced some of her best works slightly higher, and she said absolutely not — because she had observed that her clients would sometimes fall in love with a work she didn’t like very much, and if she priced some lower than others of the same size, collectors wondered if something was wrong with the less expensive painting — it would sit there unsold.
Knowing that Monique is an astute business woman, I followed her pricing procedure when it came to my own work. Of course, I did not price my works as high as hers – she was a well known artist in the New England region; I was not known at all.
More Than One Way That Works
If there were only one standard way to price artwork – there would be very little confusion around the issue of setting prices. Galleries generally have the artist set the prices, but whether you’re working with a gallery or selling on your own, pricing by the square inch is sometimes the easiest way to get started while showing consistency. When you’re first starting out, it’s a good idea to make your work as affordable as you can while being able to cover your costs and make a small profit. Don’t charge so little that you don’t break even.
OK, without further ado, here is how many artists price their work using a square inch method. Generally, they increase the dollar amount for smaller paintings and decrease it for very large paintings. So, let’s begin with pricing a medium sized painting – we’ll use a 16×20 work as an example.
First, multiply the painting’s width by its length to arrive at the total size, in square inches. Then multiply that number by a set dollar amount. I currently use $6 per square inch for oil on linen paintings. A 16”-x-20” painting: = 320 square inches.
I price my oil paintings at $6 per square inch. 320 x 6 = $1,920.00 and I round this down to $1,900. My frame, canvas and materials cost me $150.00 (I buy framing wholesale). I double this cost so that I’ll get it all back when the painting sells at the gallery. Otherwise, I’m subsidizing the collector by giving him or her the frame for free. $150 x 2 = $300
Then I put it all together: $1,900 + $300 = $2,200 (the retail price). When the painting sells from a gallery, my cut after the 50 percent commission is paid comes to $950 for the painting and $150 for the framing and materials, for a total of $1,100.
For much larger pieces, I’ll bring the price per square inch down a notch … maybe a dollar or two lower so that I don’t price my work beyond what my reputation can sustain. Alternately, for smaller works, I’ll increase the dollar per square inch because small works take almost as much effort as larger works, and I need to be compensated for my expertise, even when the work is miniature.
This is not the only way to price artwork, but it’s one that keeps my prices consistent and keeps me sane. By the way, my prices were much lower 10 years ago when my artwork was relatively unknown to collectors. When I began working with galleries, I had to increase by 20% or so in order for my prices to be in line with the other works in the gallery. When I have a great selling year, I raise my prices by 10 percent. When the economy is poor or my sales are slow, I don’t raise prices at all.
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what if l creat a painting by my own design? and if a client order a painting his/her design, there different on prices?
Justice, great question. Pricing should be the same regardless of who directs the design – unless the client requests a much more complex design tham you usually do, in which case, you might want to charge more to compensate for the extra time involved.
Thx this is very helpful , if I do copies of my oil paintings how would I charge that? I don’t do frames with paintings
Hi Joanna,
Pricing art prints can work the same way, per square inch. For example, charge .70 cents per square inch. An 18×24 is 432 square inches. .70 x 432 = $302.40. You could charge $300 for an 18×24 using this example.
Hey my name is Kendreek ,
I want to know how do I find the measurement of the square inch of the size paper I’m working on. For example, the regular size 8×10? Because I have a tough time pricing my work or commissions when people ask. Another question, is there a way I could make a price chart or do I need a website for that, instead of people asking all the time what’s my prices?
Please let me know!
Thanks,
Kendreek Mitchell
I always thought of pricing my paintings in terms of hours I put in. If I spend 6 hours on a 16″ x 20″, and were to charge by the above formula, it would come to $366/ hr. (including frame, canvas, etc.) It may be how I view the process, but I feel that’s high (I would charge about 1/2 that). Then again, no one formula works across the board for everyone and adjustments must be made for whatever level an artist is at. Obviously Scott Christensen charges more for a 16 x 20 than I! 🙂
Hi.
I’m Riza from Indonesia. I had a beautiful abstract painting left from my granma’. We want to sell it because the size is too large for our livingroom.
Kind Regards.
Hi, how many square inches is a 5x3ft painting please?
15 sq ft (5×3=15)
I do not know anything but I paid $660 for a 5×3 ft painting is that good or did I pay too much? Please I need to know. Thank you!
A 5’x3′ painting is 60″x36″ ( ‘ = feet, ” = inches)
That’s a huge painting. If you paid $660 for it and you love it, you got a bargain.
In some circles, a painting is worth what the highest bidder is willing to pay for it. But since most of us don’t run in those circles, a standardized pricing scheme helps with the administrative side of things as you grow in popularity.
How would you recommend adjusting the formula for ink drawings? This is a popular formula for painted canvas, but I do intricate linework and I struggle with pricing my originals. :/
Hi! Can I sell my pen arts drawn on paper…?
I’ll put frame so it would look more attractive. I want a suggestion for my works. Instead of keeping all of my pen arts in my room, I’m thinking of selling it. What can you suggest?
This is most helpful information i read in a long time. Thanks Maria for this helpful infornation
I just need to find the price on a canvas painting my grandfather left to me and i dont know were to look. its a bruce bomberger. water for to. if you could let me know that would be excellent. my email is welshlt@gmail.com
I have been going around and around on this one. So what price per square inch is best to start at. I have been painting for years but I don’t have a formal art education and I have never shown and I have sold 1 painting. I am putting it all out there right now and keep shifting prices. So what do you think the starting point is for a square inch price for a real beginner?
HI Melissa, great question! Some say $2.00 per square inch is a good starting point for a new artist. But really, the number may change depending on your medium, and if the paintings are large or small, etc. Just start somewhere and adjust as you go!
Hi Maria, I bought your book Art money success , and have read it. Best book out there btw!! My question is – My abstract ART prices were the same for 10 years and never really increased much (didn’t know i could) . At that time, my 30″x48″ were usually around $750-850. Then i took a break from art for almost 3 years to focus on my health and now im back..but i think i made a big mistake. I launched with pretty large pieces…bigger than i had ever done in the past and priced my 38×48 at like 3500 and then my 60×48 and 5000. Then after day one (and had sent the newsletter got no sales)…i panicked and changed my prices to 2000 for38x48 and, $3100 for a 60×48. I didnt send newsletter this time, just changed them. Now im still thinking pricing is too high ugh. I have never done galleries only sold tons of work online, but that was few years back when my pricing was a lot lower! Im thinking of lowering again to maybe to 1500 for 38×48 and 2500 for 60×48. What do u think?? Im so confused…is this a bad idea or i should just do it???
I just designed and painted using high quality acrylic painting on a 3 piece 24×36 (3x6feet) canvas. It’s a colorful Buddha on a professional grade (3) canvas. This is one of my first few paintings that I am selling and the buyer (my friend ) loves it and wants to pay for it. I can’t figure how to price my art. Please suggest.
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Thank you , your blog helps me ,i got a request for two paintings 3ft x5 feet ,
How can we find a good buyer? What class of people love paintings so that we can plan our selling.
I am an artist since childhood but I haven’t been able to sell any of my paintings till today. I am 46 now!
I am in India. Is there any scope of selling my works here?
Thank you very much for your bolg!helps me.
I found a good place to buy oil paintings ,they have skilled artistrit to draw for you. their site is http://www.yupoo.me ,Looks so cool and better for our art business too
What is your price structure for acrylics? I do both oil and acrylics and I am trying to figure that out from your article but I cannot find any information for that. I assume that if oil is $6 per square inch, maybe acrylic will be half that price? Thank you for your reply. I also have another question. How do you gain access to the higher customer class? Do you meet them in any special organizations?
I have donated multiple oil painting to our local children’s home. For the large paintings 36 by 48 they are willing to cover my expenses. How, would I calculate the expense of the oil paint for 36 by 48 inch painting?
I have a 31.25″ x 39″ painting by Fadel Hamza out of Baghdad Iraq… I do not know how to price it, and the Military damaged it in a move.
I calculated it at $3.50 per square inch which gives me a grad total of $4,265.63… does that sound about right?
this is helpful.I also have one related blog thought of sharing it
https://www.showflipper.com/blog/How-To-Price-Your-Art
Thanks for sharing this worth reading content. Your blog is really helpful for the people who don’t know how to price your artworks. When it comes to pricing artworks there is always a huge question tag in the mind of artists, how to price my art? Will people buy my artworks at this price range? Your blog is the ultimate guide for such artists.
Even I have written a blog on this most asked question. My blog is a blend of mathematics + economic tips for artists, which will help them to sell their artworks for a perfect price. Click here to know more about it – https://www.showflipper.com/blog/How-To-Price-Your-Art
When you determine your square inches, do you use the framed size, or the unframed size? Thanks!
The unframed size – then add the cost of the frame to it x 2 (i.e. if the frame cost you $100 add $200 to the price for the frame). This way you won’t be underpaid for the frame portion if it sells through a gallery that gets 50%.
Als je een grote abstracte canvaskunst voor muurolieverf wilt kopen om je binnenkamer of muur of kantoor te versieren, ga dan naar https://www.artsaleonline.com , je kunt direct kopen of in bulk bestellen, als je een thuis Klant, dan kun je ook droppen
I have two pricing systems that guarantee I don’t pay myself less than $40 an hour, regardless of the medium or project. (I also do jewelry, sculptures, graphic design, etc.) Because when you’re in business for yourself you’re at the very least a sole proprietor and you’re responsible for your overhead, taxes, healthcare, etc. Most people understand how being on your own really adds up and if they like your work, they’re happy to pay.
The first is much like Maria’s system, but instead of inches I charge by canvas size (including murals) for paintings because I tend to do larger works.
The second is I add up the hours it takes to create the work and multiply by $40.
If my hours are less than the canvas size price, I split the difference.
If my hours are more than the canvas size price, I charge for the total hours.
Most people find this to be fair and don’t think I’m charging too much when they discover how much actually goes into what I create.
When I first started out my hourly was half this rate, but with experience you get faster/better and your pricing should reflect that.
The sooner you realize you’re an artist with a natural-born talent and skill set that not just anyone can do, the easier it will be to accept that you SHOULD be paid well for your work. If you did an outstanding job in any other field, it would be rewarded with higher pay, so track your hours and and stop giving yourself away. You are your own boss!
Very good article for original art. After reading this article I got some more ideas to expand my business. This way can get your painting or art sold fast too. thank you for sharing valuable information
I’m not a perfectional artist but would like to be. I started painting in 1970 and so far created about 300 artworks. My financial status does not allow me to be 100% artist. I posted some artwork https://fineartamerica.com/profiles/vladimira-shvartsman
I’m retired now and think it is better if I tried to sell my original and use the money to support me and keep creating more artworks. Please help to price them.
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