Are you interested in selling your art? Do you wonder, “How much should I charge for my art?” In this article you will discover tips on pricing your art.
“Any fool can paint a picture, but it takes a wise person to be able to sell it.”
10 Tips for Pricing Your Art
When I first started my art business my main objective was to build my name.
It all started with hand painted custom signs. After two years of marketing and hard work I was able to promote over 300 sayings. My success started when I offered the customers the choice of the colors and font style.
At the prime of the business I was shipping out hundreds of signs a week around the world. It got to the point where I was contemplating hiring help and a facility to work out of.
I was very proud of building a business with that amount of success within two years. I still wanted more. I wanted to start a business with what I have a true passion for. That is graphite art.
I stopped the sign business and now I am fully devoted to graphite art and am building a successful business with what I truly love. I have it all. I have a wonderful family that I love with all of my heart and a career that I have a true passion for.
You can have it all too!!!
Pricing your art strategy:
Here is my pricing strategy that worked for me with the start of both businesses.
- End in mind – Have a clear vision of your end goal. Know exactly how much you would like to be able to price your art at the prime of your business. This will give you the information that you will need to market your business.
- Set a timeline – Set a goal of when you would like to accomplish this goal.
- Be realistic – Be realistic in your goals. There will be many factors that will play in the pricing of your artwork.
- Start low – You will need to build your name. Even if your artwork is worth more money in the beginning, it does not matter if no one knows of you. You will need to build your name and brand.
- Research your niche – Research what other artists are selling their art for. You will need to know how long that they have been selling.
- Be flexible at first – At first it is all trial and error. You will need to adjust your pricing until you find the magic number that will have you selling your work when it is complete.
- Keep accurate records – This will be the most valuable information for you. You will want to assess your records every week to be able to adjust your pricing.
- Keep an eye on the economy – You will want to know the growth of the economy so you can keep increasing your prices. There might be times when you will need to lower your prices if the economy is not good. Your pricing should be to sell not personal pride.
- Yearly growth – Increase the pricing every year. Increase the price based on the percentage of the economy growth for that year.
- Reward your loyal customers – Your loyal customers are the people that are building your business with you. You can show them how grateful you are by offering them specials.
To sum it up:
To build a business you need to have people learn about what you have to offer. After building a following and trust your work will be in demand. Your pricing will be based on your brands value.
What difficulties do you have with marketing your art? Are you having a hard time pricing your art? What difficulties are you having?
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