Would you like to sell more art?
Would you like to increase the profit margin for each piece of art you sell?
How Creating A Pricing Chart For Your Art Will Increase Profits
Do you know exactly how much money you are making from each piece of art you sell?
If you don’t, you are not alone.
One of the first questions I ask an artist when they hire me to coach them is, “How much profit do you make from each piece of art you sell?”
Most artists I ask do not know the answer.
There is no debating that it feels good to sell art you have created, but it would feel even better if you make a profit from the sale.
It costs money to create art, and if you do not calculate the cost of your materials and marketing costs, you could easily see your profits diminish.
Even worse, you might lose money when you make a sale.
In this post, I will discuss pricing strategies but, even more important, be consistent with your pricing.
How To Price Artwork For Beginners
Many variables play a role in pricing your artwork.
- Medium
- Size
- Subject
- How long you have been an artist
- Brand awareness
- Marketing skills
- Market value
Are you having difficulty deciding what you should charge for your artwork?
Pricing my art was one of the most challenging tasks I faced when I started selling my art.
I felt uncomfortable asking people for money for something I enjoyed creating.
It didn’t take long to realize that if I wanted to reach my goals, I would have to accept that my work is valuable and people are willing to purchase what I have to offer.
Over the years, I have spent a great deal of time researching the market and how to price art to sell.
Understanding how to price art for a profit makes it easier for me to develop a pricing strategy that works.
Are you having difficulty deciding what you should charge for your artwork?
The Art Pricing Guide – How to Price Art to Sell eBook will help you develop pricing strategies for your artwork.
Related Post – How Much Do Pencil Drawings Sell For
The Cost Of Creating Art
Do you know how much it costs you to create your art?
Here is a list of costs I take into consideration when I calculate my profit margin:
- Art supplies
- Internet
- Electricity
- Heat
- Water
- Marketing costs
- Workspace
Many artists I talk to do not factor in the cost of the internet, electricity, heat, water, and marketing costs.
Everything that you use to operate a business should be included in the cost of creating your art.
If you do not calculate all of the costs associated with creating your art, you could be losing money every time you make a sale.
Knowing exactly how much you spend will help you determine your artwork’s price.
Take time now to calculate the cost of running your business.
After you have finished calculating all of your costs, decide on how much of a profit you would like to make for each piece of art you sell.
The profit you make will be determined by:
- How long you have been creating art
- The medium you use
- The size of your art
- The market
- How well do you market your products
- The value of your brand
Price Chart
Now that you have a clear understanding of your art prices and why they are priced the way they are, you should feel confident in standing firmly behind them.
The next step is to create a price chart for a reference.
What Should be included in the Price Chart:
- Price based on the size of the art
- Price based on the material used (for example, the price will go up if you offer a frame)
- Price of commissioned work (calculate how long it will take to complete a project)
- Price of prints (if you offer prints of your artwork)
- Workshops (Based on travel time and time spent with students)
- One on One class (Based on travel time, cost of materials, and time spent with students)
Fine Art Marketing
Now that you have your prices documented, it is time to start marketing your artwork.
Your price chart will make it easy for you to post consistent prices on all of the different platforms you will be marketing on like blogs, Facebook Twitter, Pinterest, website, POD sites, craft shows, etc.
With all of the different platforms you can use to sell your art, you might find yourself posting different prices, which will make it confusing or frustrating to your buyers.
There is even the possibility you might lose a customer if they have discovered they have paid a higher amount buying your art on one platform over another.
Now that you know how to price your art for a profit and your art using a price chart to keep your prices consistent, let’s talk about how to sell your art.
The online art marketing posts, eBooks, workbooks, and courses below will help you build a strategy that will help you build a strong foundation for your online art business.
Art Blog
- Digital Content Marketing – What Artists Need to Know
- Optimize Art Blog Posts for Search eBook
- 28 Day Blogging Challenge for Visual Artists
- WordPress Dashboard Guide
- WordPress SEO Basics
Social Media Marketing
- Easy Social Media Strategies That Drive Traffic to Art Blogs
- 7 Social Media Marketing Tips and Tricks for Artists
Pinterest Marketing
- Create a Pinterest Business Account Step by Step
- How to Use Pinterest to Drive Massive Art Blog Traffic
- Increase Your Art Blog Traffic with Simple Pinterest SEO
- How to Start a Pinterest Strategy for Artists
- How to Create a Pinterest Profile for Your Art Business
- Pinterest Board Tips That Will Attract Your Target Audience
Email Marketing
- How To Start Your Email List Today so You Can Sell More Art
- Ultimate Email Marketing Guide for Selling Art Online
- 4 Email Opt-in Plugins for WordPress
Final Thoughts On How Creating A Pricing Chart For Your Art will Increase Profits
Learning how to sell art online is one thing, but learning how to make a profit is another thing.
Take a few minutes to write the costs of creating your art, develop a pricing strategy, and make a price chart to be consistent.
How Creating a Pricing Chart for Your Art Will Increase Profits Overview:
- How to Price Artwork for Beginners
- The Cost of Creating Costs
- Price Chart
