Putting a price on artwork is not simple. This is because, as the saying goes, artwork is priceless. However, you are in business and you want to earn and place food on the table. Determining the price tag to put on your artwork is a delicate affair. This process becomes even more complex when you are selling online. In online selling, the customer will read the price tag at once and make a decision. The option of bargaining may not be available and this may put off a potential customer. Some of these factors may help you determine the price tag;
Be transparent and consistent
In setting your art prices for online selling, you need transparency and consistency. Understand that it is different to sell paintings online than to sell face-to-face. This is because when you are selling one-on-one, it is possible to sell one piece of art at different prices to different customers. This will depend on how you rate the customers and whether they are willing to pay the price you give them. With online selling, the price tag you put on your artwork will be visible to all your clientele. You cannot charge a different amount from the one on the price tag. This will be the case irrespective of the customer’s ability to pay or their ranking in society. Your artwork will sell and will be worth the displayed amount.
Have artwork for different customers
Some paintings may be larger and attract higher prices and may not favor all your customers. To sell paintings, it is wise to put into account the affordability of your work. This does not mean compromised quality. You can make smaller paintings and charge lower prices for them, but do not compromise on the quality. This will widen your customer base since there will be artwork for every client. Customers will not be put off by your prices but will contact you for tailor-made artwork. In so doing, you will attract more customers and increase your sales.
Study the markets and compare your artwork
To sell paintings successfully, you need to be conversant with the market trends. Since you won’t be there to advertise and show authenticity for your work, pricing will make all the difference. You need to do extensive research to know how art pieces of your category are priced. Talk to artists who do similar work to yours. Get to know how they price their work, monitor their progress and know whether their work is selling at that price. Put a price tag that will compete fairly with artwork of a similar nature. Do not overprice or underprice your artwork. Putting a low price might send the wrong signal to potential customers.
Do your costing and pay yourself a wage
Whether you are doing artwork as a business or as a hobby, you will incur costs. These will be for materials bought and also your time. In setting prices as you sell paintings online, consider the costs incurred. The price you set for your artwork should recover all costs and also give you a profit. This will motivate you and ensure you remain in business.