How to Price Your Art Method (so you don't lose money)

Are you wondering: 'How much is my art worth? How do I price my art fairly?' If you are pricing your art for the first time, it's hard to tell. Most artist base their calculation on their past sales. What if you don't have any?

I recommend calculating all the production costs as your baseline price (the minimum you need to charge your customers). After knowing how much it cost you to produce those artworks, you can adjust the margin you wish to earn later on.

Let's add up the following costs:
01:47 Material cost 🎨
03:06 Labour cost 💁
03:58 Business cost 💼
05:14 Marketing cost 📢
06:13 Taxes 🗃
07:18 Other unexpected costs ⛈

You can calculate all the above-mentioned costs in a period of time (e.g. 3 months, 6 months or 12 months), then divide by the number of finished works in that period. It's especially suitable for commissioned art, because you know you will be able to sell all of your works.

This formula provides you with a rough idea and minimum price. If you manage to sell at a much higher price, you know you could price your works higher. You can get more confident and ambitious with time.
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[fabrislr]

I love that you focus on the *BUSINESS* side of being an artist. I think there will always be people to complain about it, as if they could make a living from art without the business side of it (either done by yourself or a gallery), but please don't stop posting this valuable content.

[aoifemcveigh]

Thanks for all of the great advice!! I literally just got asked to do a commission for *FREE* and when I politely declined they got so mad 🙄 I'm not going to work so hard for 50+ hours for nothing!!

[philbrink]

Something worth noting as a cost cutting measure is to use alternate software commonly called Open Source. Its free software and often excellent quality. Not perfect or well known, but often has all the tools that are needed. Like GIMP, its an open source Photoshop with most of the same features, just different buttons to push. Just because its well-known (like photoshop) doesn't mean it is better for your needs and the price is often unjustifiable when starting.

[KJensenStudio]

Emergency fund, yes!! The most overlooked and essential thing to do. Thank you for this. :-)

[kristinabogomolova]

Thank you so much for all the videos you are posting! Love your intelligence and practical approach to every topic! Analysis of a business side is very important and many artists forget about it. I already learned so much from you! ❤️

[Coraith]

Your videos are amazingly useful, totally easy to understand and very well presented. 100%

[xiomaracian]

I have always wanted to be an artist but I was not quite ready for financial aspects thank you for sharing

[Official_nixholas]

great tips really helped small artist youtuber here

[AmronsCreations]

Thank.you so much for sharing ur ideas ..Big help for me because Im searching how i sell my work .

[reenakar]

Very informative videos.How can I participate in foreign art galleries ..I'm from India.

[hotlineoperator]

When paint one work per week about 1 m2. Then minimum price from paintings is about 1500 (€/$) per m2 + tax. Gallery adds min. 50% to sales price. Art do not have max. prices - it depend of demand, so better to create good art. Last, reality is that not able to produce creating good paintings 1 m2/week..

[dinahsamnani]

Do you have thoughts on shipping costs and pricing? As a painter who does some large commissions, shipping is just not sustainable! What do other artists do? Do they roll up paintings and ship?

[chandanhindustani]

I need your help.i can't sale my art

[casewhite]

just make 1 big painting sell for 1.5 mil