How do I know when to raise my prices significantly?

When demand far exceeds your capacity to deliver, it’s time to raise prices—potentially double or triple them. If you have a waitlist of 36 people and it’s taking you over a year to fulfill orders, your work is clearly underpriced. The waitlist proves strong demand exists. Higher prices will balance demand with your capacity and properly compensate you for the extensive time each piece requires. This is especially important for work that takes multiple full days to complete.

---

Asked by an artist with a long custom waitlist · Answered by Patrick Shanahan · art-marketing-podcast · 2025-02-18