How should I approach pricing my artwork?

Create a pricing spreadsheet to take the emotion out of pricing decisions. Establish a formula based on price per square inch and let it calculate the price, then round to a reasonable number. Review and update your prices annually - a 10% increase each year is a sustainable approach. Avoid big jumps followed by scaling back, as this looks unprofessional. Having a systematic, spreadsheet-based approach removes the stress and second-guessing that often comes with pricing. Start with smaller, more affordable pieces if your audience includes many beginning collectors or fellow artists, and have larger pieces at higher price points for established collectors.

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Asked by an artist struggling with pricing · Answered by Betty Franks · art-marketing-podcast · 2024-07-12