Lines #30
Textile Painting – Mounted on stretched canvas
©2009
3" x 3"
$75
Purchase Here
A Slight Change in Prices
In January I raised prices on my artwork as part of my year of Expansion and Integrity.
Not long after that I stopped making new work due to the remodel of my house and building of my new studio. Now that things have settled down I’ve been reflecting on my pricing changes.
For the most part I’m happy with them and know this is the right direction to go although am making a few adjustments, which feels right. I was a bit jumpy about the new prices before, now it’s good.
Quick Recap on Price Increase
First, a quick review of why I increased my prices. Last fall I defined what being a successful artist meant to me and it included this point:
My work is valued by buyers and collectors, who are willing to pay a good price for my artwork.
The new prices put me more into alignment with this idea. Although not stated in that line, I think the idea that I value the artwork to price it reasonably is also important.
In addition to having prices that reflect the value of my artwork, the increases brought them in alignment with a sustainable art practice.
This part of my definition of success:
I quit my day job and live comfortably from the proceeds of my creative talents.
was not going to happen making $10 an hour or less selling my art.
The original article about raising my prices is here for those that missed it.
Gallery Commissions
The majority of my income from my artwork comes through sales of artwork through art consultants or galleries, who take a pretty healthy commission, with 50% being the most common. My previous prices were okayish if I assumed no commission.
I would cringe every time a piece was sold through these avenues. Not good.
Not good to cringe. Galleries work hard to market the artwork, art consultants need to be paid. I don’t resent paying them for their work and it is my responsibility to make sure my art is priced so that the commission is built in.
So my pricing now reflects the expected 50% commission to be paid to the gallery. It should have always included this, and it used to, somewhere along the way the value of my art outpaced my prices (looking at my records I hadn’t done a price increase in many many years – oops!)
Consistency
It’s important for prices to be consistent across all venues. Undercutting the gallery pricing isn’t a good business practice. But ignoring that, creating the artwork is half the value of art marketing it and finding a buyer is the other half.
Anyone out there selling art knows this, marketing is a big job. Doesn’t matter if it’s a gallery, art consultant or me doing that marketing piece, we need to be compensated for that effort.
This means that artwork sold via my website, where no commission is paid, is the same price as artwork sold in a gallery (artfulhome is the gallery that sells most of my art to date). So what does the commission pay for when I get to keep it? Here’s a partial list:
- Paypal fees (I’ll be adding a shopping cart soon also – that has fees).
- Shipping supplies (these are usually not covered in the shipping expenses) and time to ship. A trip to the post office is at least 1/2 an hour of time. Packing up the art to sell is non-negligible also.
- The time it takes me to list the artwork for sale on my website, again a fairly big chunk of time.
- My marketing time. I write a ton of informative articles on my blog that build my readership, which in turn builds my fans, which eventually results in art sales. At least that is what I consider to be my marketing effort – to just be me – to write about being an artist. To help people out that ask questions (although I’m behind on blog comments – oops!)
Affordable Art
All of this is what I was thinking when I raised my prices and I kinda ignored this line from my definition of being a successful artist:
I create an affordable line of work for those that can not afford my larger pieces.
This is important to me. I buy a lot of these lower priced artworks from other artists and really appreciate them offering smaller works I can afford. With my lowest prices at $120 for my 3"x3" pieces technically I did have lower priced art but it was a stretch for many.
So I’ve rethought some of my pricing on my smallest work and have decided I will not sell my ACEOs or 3"x3" textile paintings through galleries.
They will only be available on my website so I’ve lowered the prices on these. Not back down to where they were, because that isn’t sustainable, but a compromise between working for $10 and covering a full marketing commission.
The new prices for ACEOs will be $40 and the 3"x3" will be $75.
Lines #31
Textile Painting – Mounted on stretched canvas
©2009
3" x 3"
$75
Purchase Here
Smaller Work Pricing
I adjusted the prices of the work under 12" square to make more sense – what the heck was $490. That’s just weird. So I’m a little OCD - I like round numbers.
For total transparency (and because I find it really helpful when other artists share their pricing policies) here are my prices for 2009:
ACEO (2.5"x3.5") – $40
Calling Cards (2.5"x3.5" mounted on canvas) – $60
3"x3" (mounted on canvas) – $75
4"x4" (mounted on canvas) – $125
6"x6" (mounted on canvas) – $275
8"x8" (mounted on canvas) – $450
6"x12" (mounted on canvas) – $500
8"x10" (mounted on canvas) – $600
12"x12" (mounted on canvas) – $750
Going forward I will only be creating artwork in these sizes (other than the ACEOs) mounted on stretched canvas. I have a few older quilts in this range that are hung directly on the wall, these pieces are all priced $50 less than above.
Larger Work Pricing
The pricing of work larger than 12"x12" hasn’t changed much since my increase but since I’m writing about pricing I thought I’d include the info on how I do this pricing also.
I first do a calculation of the price of the work based on size using the following values (this is all done automagically in excel when I enter the size of the artwork into my spreadsheet):
$750 per sq ft for work < 10 sq ft
$700 per sq ft for work < 15 sq ft
$650 per sq ft for work < 20 sq ft
$625 per sq ft for work < 30 sq ft
$600 per sq ft for work > 30 sq ft
I look at the number and then round it up or down to a nice happy even number. The rounding up or down is based on how good I think the piece is, the age of the piece and any other factor I think influences the value of the work.
Because my work is all such irregular sizes (the advantage of not using premade canvases but creating art to any size I please) this helps to group pieces roughly the same size to roughly the same price.
Never Lower Your Prices
The rule in the artworld is that you can never lower your prices, you can only raise them. I guess I’m ignore that and lowering the price on a few sizes.
Sometimes one must just ignore all the rules and do what is right.
Lines #33
Textile Painting – Mounted on stretched canvas
©2009
3" x 3"
$75
Purchase Here
PS After all of that, check out all 12 of the new 3"x3" textile painting on my affordable art for sale page.
I took all the sold work off there so you can just see what’s available.
It was a big house cleaning day – of prices and webpages.
