by Paula Atwell

Created on: February 10, 2009

Setting a price to sell your original artwork is always a tough decision especially if you are not an established artist.

Here are some of the factors to take into consideration when you make that decision:

1. How long did it take you to create the piece?

When you decide how many hours it took to create a piece, do not just start with the actual physical creation of the piece of art, whether that is how long it took to paint, sculpt or build, but also include how long it took to conceptualize the idea. For most artists, creating the idea of the piece is the most difficult part of the process. The actual physical "making" of the piece is the production process.

2. How much did the materials cost?

Most new artists generally use the cost of the materials as the primary base for figuring out the sales price. You can take your cost and double it to start, then as you become more known, add more to the price.

3. What do similar pieces by artists of your caliber charge?

Visit art shows and galleries to determine the answer to this question. Look for pieces of the same size and materials. For instance, if you are an oil painter, look for other oil paintings of the same size as your piece.

4. What will the market bear?

This answer changes all the time depending on the economy and where you are trying to sell the piece. Look for similar types of work and see what other people are successfully selling them for. Just because you sold your earrings for $35 last year, doesn't mean you can this year. You might have to change the price to $30.

5. Are you selling it yourself or through a gallery?

Most galleries take an average of 40% of the retail price of the artwork, so you need to add that into your calculations when you sell the piece through a gallery.

6. How much did the art show cost where you are selling the piece?

Is the show a $25 show or a $500 show? This is similar to the previous question. Add the fees into the price of the piece.

7. How good is the piece?

In your range of work, does this particular one stand out? Or is it typical of your work? if it is incredibly amazing, it is worth more.

8. Is this piece a stand alone, or are you trying to establish a set of similar pieces to sell together?

Some artists create artwork in groups by style or subject matter. If this particular piece is part of a grouping, you should be pricing the pieces in the same range.

Established artists can usually add to their prices depending on their reputation and experience. That is subjective and always comes back to the question of what the market will bear. It is also important to decide how badly you want to sell your piece. Is it a piece you have had for a long time or a new one that you have just finished producing?

Another consideration is whether you are selling the piece on consignment or wholesale to a dealer or gallery. If the piece is on consignment, the general rule is to price it higher, because you will not get your money until after it sells. If it is a direct sale, you get your money for the piece right away, so you can sell it for less.

There is no hard and fast rule to setting a price for your original artwork, but these questions are the framework you should use in deciding on a price.

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