How do I price custom or one-of-a-kind items like hand-painted merchandise or upcycled products?

Consider the time investment, the cost of materials, and the uniqueness factor. For custom hand-painted items on higher-end bases (like designer handbags), you can charge premium prices—$200 to $300 or more depending on the item and the work involved. The scarcity (you can’t mass-produce these) and the personalization add significant value. Start by estimating your time: if it takes an hour and you want to earn a reasonable hourly rate, build that in. Then add material costs and a margin for the unique, custom nature. Test pricing with your pilot group and adjust based on response. Don’t undervalue one-of-a-kind work—collectors and customers understand and will pay for something truly unique.

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Asked by an artist pricing hand-painted custom items · Answered by Patrick Shanahan and Hava Gurevich · art-marketing-podcast · 2024-06-28