Why do people pay so much for bad art?
It is so subjective. The high price though is due to art galleries taking 60% of the cost of the work as their commission fee. Artists have to increase their prices to cover these fees. If you want to buy art work at realistic prices you have to find artists, like me, who don’t sell through galleries.
What’s the best way to price your art?
Pay yourself a reasonable hourly wage, add the cost of materials and make that your asking price. For example, if materials cost $50, you take 20 hours to make the art, and you pay yourself $20 an hour to make it, then you price the art at $450 ($20 X 20 hours + $50 cost of materials). Don’t forget the comparables, though.
Why do some artists over price their artwork?
It’s easy to see by reading art business articles and books on art marketing that the opinions of the experts on how to price your artwork vary. To make it even more complicated, we artists sometimes price with our emotions. Some artists overprice their work in order to impress viewers, hoping to make the artwork look more valuable.
Can you get the same price as an established artist?
If you’re relatively unknown to collectors and don’t have many credentials you really can’t get the same prices as artists who do have won competitions or shown in galleries. When you’re first starting out, it’s a good idea to make your work as affordable as you can while being able to make a small profit.
How can I find out what my art is worth?
If you are unable to determine the artist’s name, you might provide photos (or jpgs) to dealers and auction houses (not museums) carrying similar works. What’s the artwork size, subject matter, year painted? The size of an artwork is very often a factor in its value. In addition, some artists are especially known for certain subject matter.
How can any artist price their art for sale?
So if a gallery sells art by other artists that is comparable to yours for $2000, that means the artists get about $1000, so you should price your art for sale directly from you at about half the gallery retail– similar to what the artist gets– more in the range of $1000 than $2000.
What makes your art cost more or less?
Here are some things that affect your pricing: Your professional reputation – education, awards, art shows, publications, reviews… Your costs – materials, tools, rent, electricity, education… Your process – more time-consuming work should in theory cost more than works done in a quicker manner.
How is the price of an artwork determined?
Remember that the price of your artwork reflects your position and reputation in the art-selling world more than what your art looks like. If you’re relatively unknown to collectors and don’t have many credentials you really can’t get the same prices as artists who do have won competitions or shown in galleries.
When to increase the price of an art commission?
If your art commission prices have remained the same for a while and you’ve been getting steady work, you can probably bump your price up to a higher bracket. If you’ve just won an art contest or had a write-up in a well-known publication, that’s a good sign that you can increase your art valuation as well!
