Pricing Your Artwork

1. Calculate Your Costs

​

To ensure you are not undervaluing your work, start by covering your expenses:

• Materials – Include the cost of canvas, paint, brushes, frames, digital software, printing, etc.

• Studio Overheads – Rent, electricity, and any other fixed costs.

• Time & Labour – Set an hourly rate for your work, then multiply by the hours spent on a piece.

• Additional Costs – Factor in commissions for galleries, transaction fees (PayPal, Etsy, etc.), or packaging for shipping.

 

2. Determine a Base Price Formula

 

Here are two common formulas used by artists:

• Cost-Based Pricing

(Materials + Overheads + Labour) = Minimum Selling Price

• Size-Based Pricing

(Length + Width in inches) x Multiplier = Selling Price
Example: A 16”x20” piece priced at £0.50 per square inch = £160

 

Consider trying both and comparing results.

​

3. Consistent Pricing

​

Your artwork should have a single, consistent price, regardless of where it is sold—whether through a gallery, online, or in person. Avoid setting different prices for different sales channels.

​

Galleries typically take a commission of 25-50%, so factor this into your pricing strategy.

 

If selling directly, you may consider offering a discount. However, be mindful that your work holds value, and frequent discounts can undermine its perceived worth. Buyers, especially those who view your work as an investment, may feel undervalued if they see it available at a lower price after purchasing.

 

4. Research Market Rates

​

• Check similar artists in your style and region. Look at pricing in:

  • Local galleries

  • Online marketplaces (Etsy, Artfinder, Instagram)

  • Art fairs and exhibitions

• Consider your experience & demand.
  If you’re newer, start lower but don’t undervalue your work.

 

5. Account for Commissions

​

• Galleries and online platforms take a 30%-50% commission, so increase your prices accordingly.

• Always ensure the price remains consistent across platforms (e.g., don’t sell cheaper directly if galleries have your work).

 

6. Create a Pricing Structure

​

• Have a consistent method for pricing similar works.

• Smaller pieces shouldn’t be disproportionately cheaper than larger ones (i.e., price per square inch should decrease slightly as size increases).

 

7. Don’t Undervalue Yourself

​

• If you sell too cheaply, buyers may assume lower quality.

• Be confident—art is a luxury product, and customers value what they perceive as valuable.

 

8. Test & Adjust

​

• If sales are slow, reassess based on demand, not just price.

• If you’re selling fast, consider raising prices gradually.