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Pricing Artwork & Finding Your Niche |
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Pricing Artwork & Finding Your Niche
One of the most frequently asked questions we receive is "How much should I charge for my artwork?"
The most helpful way to address this is to reflect on and answer a few simple questions:
1. What are my expenses associated with making and
marketing my artwork?
When answering this question, keep in mind the cost of materials, studio space, any marketing expenses (business cards, gallery/show cards, online gallery costs, etc.), and your time. Formulate what your hourly rate would be if you were to do freelance work for a client and estimate how long it takes to create your art; make sure to include this total in your overall expense.
2. In which venue(s) am I aiming to sell my artwork? Do I want my prices to be equivalent between venues?
Often artists show work in several types of venues, including galleries, cafes, online galleries, etc. Each venue has its own costs associated with it and this can create widely varied pricing for artwork. Displaying a consistent price or adopting a consistent pricing structure for your work can make an artist's life easier and project a more professional appearance to customers. When evaluating costs associated with each venue, be sure to account for incidental charges, fees, and commissions.
3. What types and sizes of artwork or derivative products am I looking to sell (cards, prints, only original work, etc.)?
One of the most difficult things an artist has to do is find the type of output of their work that is the most sellable and popular. Often this is learned by trial and error and may be venue dependent. Test the water and don't fall into the trap of thinking because you're offering one type of product versus another you're selling out.
Other considerations can help you answer the question of how much you should charge for your artwork:
Be competitive as well as cost conscious. Look to see what equivalent artists charge for similar artwork. Take into account quality of work and artwork options (different mediums, framing options, artist notoriety, etc).
Learn about the demand for your artwork and product types by making available a wide variety of goods with ranging prices. Check your site traffic and transaction statistics to see what types of products and prices are most attractive to your viewers/customers. Learn from this information and adjust your offerings and prices accordingly. Studying your customers shopping behavior will inevitably educate you as to where and how to maximize your sales.
Be aware of customer logic. With rare exception art enthusiasts associate larger work with higher prices. Keeping this in mind you may find greater acceptance for higher priced items when they are presented in larger sizes. As previously mentioned there are exceptions to this trend and artists have created niches selling miniature work at a premium, so anything is possible.
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Did You Know? - Extra Images Can Be Uploaded & Referenced via "Site Graphics"
Did you know it is possible to upload images that have no product information associated with them? The intention of these images are that they be used to cosmetically accentuate your site pages or your e-newsletters.
You can upload such images from the "My Site Graphics" page. Upon uploading an image via this page click on the resulting thumbnail. A page will load, with text you can copy and paste, detailing the HTML code that you can use to reference this image.
NOTE: These images are not automatically resized. The image size you upload is the image size that will display. We recommend using images less than 300 pixels in height or width.
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Forums & Community
We remind you that you can discuss account setup, business practices, recent site developments, and suggestions, with fellow members and the ArtBeacon Development Team in the ArtBeacon Forum. >> Access The Forum |
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