Congratulations!!! Points to consider in pricing that I use--cost of
materials, any overhead expenses (rent, insurance, etc.) my time and market
prices for similar work. Obviously, each of these vary, but you don't want
to overprice yourself and you definitely don't want to undervalue your work.
Cost of materials is fairly easy to calculate. If you rent a studio, you
definitely have overhead expenses.
Time--I use number of hours times an hourly rate (at least the amount you
make in your regular work as a teacher or other work).
Market prices--some more established artists can command a very high price,
but if you look around at other works, you can get an idea of what the
market will bear. As a new artist to the scene, your prices may not be as
high as other established artists, but a gallery owner might be of help.
Call some galleries and inquire about how they advise about pricing
work--better still have them look at it and advise you. You might even be
picked up by the gallery!!!!!!!!
Once you get a base price, other works will be easier to price.
I have a dumb question (dumb since I have helped MANY students price their
work but don't know how to do my own),,, how do you know how to price
paintings/artwork of your own? I have been offered to sell a couple of my
newest pieces, yet have NO idea how to price them. Both are 18"x24"
canvases of abstract collage/painting. They are strip framed and ready to
hang, and the buyer obviously really likes them... can you give me any
advice? I created them as personal statements...not really to sell. Never
dreamed someone would want them.