Many people (myself included) are often confused on how to price their art. You’ve worked hard and produced a beautiful piece of art and now the hard part…pricing.
One formula I have found to be useful is going by linear inch. If I have a painting that is 8 x 10 I wouldn’t do very well commanding way into the thousand dollar range even if it did take me a while to make, it’s just not realistic. This is where the linear inch formula comes in. I take the measurements 8 x 10, and then add together 8 + 10=18 linear inches. Then I charge a set rate for my time which for me is $20. 18 linear inches x $20= $360 for an 8 x 10 original painting.
You’ll have to configure and adjust to your market and what you feel is right but remember that art is a luxury and you have to decide what clientele you’re aiming for. Is it wealthy business people with deep pockets or is it more of a budget conscious type of collector who will appreciate your beautiful pieces just as much? Your choices will determine how many people are going to be able to collect your work. If you’re doing local craft fairs, chances are that you may not get the type of money you might if you were in a gallery or an art walk. Just keep in mind that if you’re just staring out and try to sell your work for exorbitant prices you can potentially turn off buyers and may not sell a high volume, which can make it a little discouraging. The key is to believe that your piece commands the price you ask. If you know it’s worth x amount of dollars, then it is. I have seen artists not own their prices and the buyer sees it as an opening to walk away or lowball an offer.
Here are some more examples of linear inch pricing for you to consider: if you have a 4 × 4-inch painting at $20 per linear inch:
1. 4 + 4 = 8 linear inches
2. 8 linear inches × $20 = $160
32 × 32-inch painting at $20 per linear inch:
1. 32 + 32 = 64 linear inches
2. 64 linear inches × $20 = $1,280
**Also remember to account for materials and add it to the final cost. If you use things like let’s say, Swarovski crystals, you’ll want to account for their incorporation in your work.
This is not professional advice by any means, but it’s something that I have personally used and it works for me. If you have a method you’d like to share please comment, I’d love to hear it!