How to set the right price for your Paintings

right_price

Whether you are a novice or an expert painter, you still probably find it hard to set a price to any of your paintings. Think about this, if you set a too much amount for your painting than what it should be the end result may be not selling them all. On the other hand, if you set a price lower than what it should be, you might not get back the costs you have spent or get taken seriously.

I understand how hard it is, so you might want to consider the following ideas on how you will set a price for your paintings on its right amount.

  1. Consider doing a research in the market about what other artists are charging in your area. Of course, most big cities would definitely have more prices as those in sub-urban, so, set a price that is appropriate for your local area.
  2. Never forget that the prices of gallery paintings are not the same price as what the artist gets. Galleries take a lot of commission, so you better check how much it is.
  3. Of course it is important that you know how much you have spent in doing your painting. Aside from the materials you have used, electricity, studio rental, or a model of you have.
  4. Consider also the time you spent in doing your painting since time also costs money but initially you might not get too much from it.
  5. If you already have a name or reputation in painting industry, you should also consider that. But of course you’re not expecting too much if you’re only setting out.
  6. If you’re planning to do some marketing strategies to sell your paintings like an exhibition or promoting an open-studio day, add for this matter as well.
  7. After you have finalized the cost, make a comparison again with local prices. Do you think the price is realistic given in the market and your reputation? Don’t worry; you can always increase your painting’s prices in the next time.

Here are some tips you might also consider:

  1. Whether you believe it or not, oil paintings still has higher prices than other mediums. So why not consider oil as your medium for painting?
  2. Never set a lower price for your art work. It will just appear for some buyers that your paintings are not as valuable as it is.
  3. I suggest that you only sell your best art work. Most especially if you are a beginner who still establishing his/her name and reputation. As you have established your name, of course buyers would want to have the best from you, so maintain it!
  4. If you want to sell one of your best painting through including it in an art exhibit but having  a second thought if you will sell it or not, don’t’ think that setting a high price on it might not sold it. What if it does?

Setting a price for your contemporary paintings? Why not try those simple tips above before deciding whether you will exhibit it in an abstract art gallery or through an open-studio day?

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