When pricing art prints, there are a few factors you need to consider.
Maybe you’re an artist who wants to make a little extra money on the side by selling prints of your paintings.
Maybe you’ve been approached by a gallery, and they’re interested in carrying your prints.
Or maybe you’re just starting and want to ensure you’re pricing your prints reasonably. In any case, it’s essential to understand how to price art prints to maximize your profits without underselling your work.
A common challenge fellow artists face when pricing art prints is they don’t know how to calculate the cost of producing a print. Various factors go into this calculation, including the price of materials, labor, and shipping and handling costs. It can be challenging to accurately determine these costs, leading to pricing prints being too low or too high.
An artist can earn a decent income by deciding to sell art prints. Are you interested in making passive income from your original art?
Here are some tips to help you decide on a profitable selling price for your art career.
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What Factors Go Into Setting the Price for an Art Print
Artists must understand the factors associated with pricing artworks and fine art prints. This includes knowing how much it costs to produce a print and understanding the value of its art. By understanding these factors, artists can price their prints fairly and ensure they profit from each sale.
1. Cost of Materials – The cost of materials refers to the price of the paper, canvas, or other substrate used to create the print. It also includes the cost of ink and other printing supplies.
2. Cost of Labor – Labor costs include the wages paid to the artist for designing and creating the original art and to any assistants who may help with the printing process.
3. Shipping and Handling – Shipping and handling costs include packaging materials and shipping fees.
4. Value of Artwork – The value of an artwork is subjective and can vary depending on the artist’s reputation, the rarity of the work, and other factors.
5. Competition – Competition also influences the price of an art print. If there are a lot of artists selling prints in your area, you may need to price your prints lower to attract buyers.
6. Profit Margin – Finally, it’s important to remember that you need to make a profit on each print you sell. This is known as the profit margin. It would be best to aim for at least 25% profit on each print, but you may want to increase this margin depending on your expenses and other factors.
7. Taxation – Remember that you may need to pay taxes on the income earned from selling prints. Check with your accountant or tax advisor to find out how this applies.
How Much Does it Cost to Make a Print of a Painting
The cost of making a print is essential when pricing your art prints. If the cost of making a print is significantly higher than the price you are selling it for, you may not be making a profit on each print. You also need to factor in the cost of materials and labor. Knowing the cost of making a print, you can price your prints accordingly and profit from each.
The cost of printing a particular piece can vary depending on the size, the complexity of the painting, the quality of the paper, and the type of ink. The more complex and detailed the artwork, the more it will cost to print.
The labor cost can also add significantly to the overall cost of making a print. If you are printing yourself, you will need to pay for the materials and your time. The labor cost will be higher if you hire someone to print the paintings.
Art Reproduction Service Costs
If you are not printing the paintings yourself, you must find a reputable art reproduction service. This can be a cost-effective option, but it is essential to research and work with a reputable company.
The print cost will vary depending on the size, quality, and how many prints you order.
Do your research and know the costs of creating your prints so you can decide on a retail price that produces a profit. The object of selling art is to make money, not lose money.
Related Post – What Size Art Prints Sell Best
How to Find the Right Art Prices
When pricing your art prints, it is essential to research and understand the costs involved in producing them. By knowing the cost of materials, labor, and art reproduction services, and the average selling prices artists sell prints at, you can price your prints accordingly and profit from each one.
Popular Print-on-demand Sites:
Here is a list of popular print-on-demand sites many artists use to sell giclee prints. Take some time to research what other artists are selling their prints for on these sites to get an idea of the market value.
Ways to Increase the Value of Your Art Prints
When pricing art prints, it is essential to understand how to increase their value. Knowing the proper techniques can make your prints more desirable and increase the chances of selling.
1. Choose the Right Paper
When it comes to printing art prints, the quality of the paper you use can make a big difference in terms of its value. Higher-quality papers will often have a better appearance and be more durable than lower-quality papers. This can make your prints more desirable to art collectors and increase their value.
2. Use High-Quality Ink
In addition to using high-quality paper, it is also essential to use high-quality ink. This will ensure that your prints look their best and last for many years. Using high-quality ink can also be a way to increase the value of your art online and at craft shows.
3. Sign Your Prints
Signing your prints is another way to increase their value. When buyers know that an artist has personally printed and signed a print, it often increases its value. Signing your prints can also be a way to add a personal touch and improve the potential connection buyers feel with your work.
4. Sell Limited Edition Prints
Selling limited edition prints is another way to increase the value of your art prints. Limiting the number of available prints creates a sense of exclusivity and makes your prints more desirable to buyers.
5. Create Customized Prints
Another way to increase the value of your art prints is to create customized prints. Each print is unique and made to order for the buyer. This can be a great way to personalize your prints and make them unique for the buyer.
6. Frame Your Prints
Framing your prints is another way to add value and make them desirable to buyers. A well-framed print often looks more professional and can be a great way to showcase your work.
7. Use Professional Printing Services
Using professional printing services can also be a way to increase the value of your prints. Professional printers often have high-quality giclee printers and the know-how to produce prints that look their best. This can make your prints more desirable and allow you to have higher price ranges.
By using the techniques discussed in this article, you can increase the value of your art prints and make a profit on each one.
Pricing Strategies for Selling Art Prints
When pricing your art prints, it is essential to understand your different pricing strategies. Knowing the various options allows you to choose the best suits your needs and goals.
1. Price By Square Inch
One common way to price art prints is by the square inch. To do this, measure the width and height of your print in inches and multiply them together. This will give you the total number of square inches for your print. Once you have the total number of square inches, you can decide how much you want to charge per square inch.
2. Price By Print Size
Another common way to price art prints is by the size of the print. This means that you will charge a certain amount for each print based on its dimensions. For example, you might charge $5 for an 8×10 print, $10 for an 11×14 print, $15 for a 12 x 12 square print, and so on.
By understanding the different pricing strategies for art prints, you can choose the one that best suits your needs and goals. When pricing your prints, it is essential to remember that there is no right or wrong way to do it – it is simply essential to find a strategy that works for you.
When pricing art prints, there are a few factors you need to take into account. In this article, we explored ways to increase the value of your prints and different pricing strategies available to you. By using the techniques discussed in this article, you can increase the value of your prints and make a profit on each one.
Related Post – Large Format Printing
How do I determine the value of my prints?
There is no one answer to this question – it depends on various factors, including the size, type, and edition number of your print. It would be best to consider what your prints are worth and find a pricing strategy that matches.
What is the best way to price giclee prints?
There is no right or wrong way to price your prints – it is simply important to find a strategy that works for your art business. By understanding the different pricing strategies available to you, you can choose the one that best suits your needs and goals.
Is it better to price by the square inch or print size?
There is no best way to price art prints – it simply depends on your preference and what you feel works best for your art business. Try out different pricing strategies and see which average price gives you the most success.