Nitty Gritty Nugget
The paradigm for pricing that I started with is:
- Sell your art for the least amount you can bear (told to me
by a successful gallery director.)
- Once you are selling faster than you can produce, you can
increase your prices (don’t know where this piece of advice came from, but it’s
fairly common sense.)
Am I in the Painting or Shipping Business?
My first 4 x 4” oil paintings (which at that point were my
practice pieces) were listed for $13 (free shipping in the US). So you figure a couple of dollars for fees
and $2.80 for shipping and I was getting $8.
Figure in supply costs and I was making enough to buy a cheap cup of
coffee. They sold like awesome organic blueberry hotcakes. I spent so much time shipping paintings that
I barely had time to paint.
I increased the price of the 4 x 4’s to $19 - a more
expensive cup of coffee, and maybe Starbuck’s perfect oatmeal on the way to the
studio. The sales slowed down a bit, but
I was still painting at a fever pitch.
In a really bold move I shot up to $25, and then….in a
blinding flash of confidence went to $30.
And while I was at it, I added in the selling fees, for a nice round
$33. I began to set my sights on paying
my studio rent with my sales.
To my 4 x 4’s I’ve added 5 x 5’s, 5 x 7’s and 6 x 6’s. I’ve come up with a standard pricing so I don’t
have to reinvent the wheel as I go forward.
I don’t go back and change old listings in my shop. My thought is if it hasn’t sold by now,
raising the price is not going to help.
At some point I have considered taking the old paintings off and letting
them breathe for a while, and then relist them as a totally new item.
I also work in pastels and I have added pastels to my “impulse
buy” category. They are 6 x 6” paintings
and take a while longer to complete. I
just added them in the last month, and have sold two at $60 apiece. In about 6 months I will review my sales and
decide if I want to increase the price on my pastels.
"Peach" 6 x 6 Pastel on Paper Click Here to Purchase Painting |
What’s the Competition Doing?
There are a million and one daily painter artists these days,
and prices are all over the board. Some prices
are way too high, some way too low. I
try to compare my paintings with similar styles and sizes, and maybe price a
hair lower. As always, those with name recognition
can ask higher prices. (There’s a subtle
piece of advice for you, build a following.)