Here's a question I get a lot: I'd like your help figuring out pricing for the two unusual commissions I've done recently. How should I price my artwork?
For artists, pricing artwork is one of those icky topics we never want to deal with. We're just so grateful anyone would buy anything from us. Right? Wrong!
If you take the romantic notion that we are "artists" out of the equation and look at your art practice as a business, it makes pricing much easier. Remember, we are manufacturers of a product. When you manufacture something you take into account, overhead, labor, materials costs, etc., and then you figure out a reasonable, fair price for your product.
I can hear you saying, " yes, but how do I price inspiration or creativity?" You don't. You take into account your training, your peers' prices and perhaps add a little for that elusive creative spirit. Most artists I know don't even cover their overhead, much less their training and labor! So I've listed below some items you should take into account when you price your work. And then, like I say with almost everything else, trust your gut. This is just a starting point. The rest is up to you.
Start with your overhead. Whether your art practice is full-time or part-time, you should treat it like a business. Businesses operate with overhead items like; rent, insurance, materials' costs, labor costs, car and/or truck expenses, delivery and/or shipping fees, professional associations' dues, and specific things related to your industry like museum entry fees, continuing education and so on. This is not a complete list but will get you started. Add all of these items together and get the complete cost of your overhead for a year. Now sit down. Whew, right?