Pricing artwork is a challenge without one correct solution. I know that statement essentially starts me off on the foot of contradicting my title, but bare with me. There is no one right way to set pricing for artwork, but after 10+ years of watching artists stare at their work wistfully and pray for an appropriate number to just magically pop into their heads, I felt there had to be some way to help them at least get started. Below you’ll find 4 steps that you can use as a formula or pick and choose what works for you.
1) How much did it cost you to create the piece? What did the materials cost? How long did it take you and what is your time worth? (Side note: Your time is worth more than $10 or $15 an hour. It’s one thing if you are in a steady job where there are other benefits and the employer is carrying some of the tax burden, but as an artist/small business, self-employment taxes are hefty, and you need to consider them. How high you go above $15 is totally up to you, but I strongly encourage you to value your artmaking time at more than $15/hour.)
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