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Pricing your art realistically requires you to understand your worth, research the market, compare fellow artists, analyze economy, demand of collectors. Without having a balanced overview between these important aspects, you would either end up overpricing your art or don’t pricing it at all. We write down the basic rules. If you are an unknown artist, who thinks your work is not ordinary, this is a not-to-be-missed article!
Plan before: Last minute pricing are often not rightly calculative. Doing this sets your art at either high or low end. To avoid such a tendency, make sure to plan ahead. Once you are resolved to sell an artwork, make sure to set its price. Things however depend on the changing economy. So, make sure to sell it at a predetermined time. If you can’t sell it at a specified time, forget not to adjust its price in tune with the economy.
Don’t be over experimental with price: If you are a newcomer, don;t keep it at a high end. Keep price balanced. But pricing too low will send a signal to collectors that you’re not confident about your art. So, keep a rational price. Once you are know, there’s no worry to keep art at high end.
Research the market: Research areas where artists of your stature are selling art. It is ideal to visit galleries. You can also join online forums and creative networks of artists to ask, know, learn and question the trend related to pricing.
Structure your price: Involves knowing the measures to price. You can charge based on size, quality or trend. Keep demand of collectors on note. For example, if the art is in trend, you can hike the price.
Stay tuned for our next article on other stuffs for pricing your art rightly.