I have performed a search and did not come up with adequate responses to the question of pricing your artwork. I notice oils tend to go for square inch and pastels might go by figure size i.e.; head and shoulders, 3/4 and full figure. Additional figures and pets seem to be at the discretion of the artist (where all pricing is, I believe). But if we were to come up with a formula how would we approach this? Just some of my thoughts are listed below.
1. Demographic - Where are you located? Does the region or area influence the marketability of portrait work. I think this is a yes, so perhaps we could break this down to (I am just using the States as examples):
- a. arts rich and educated areas, such as NYC, California, Miami, Atlanta, Boston, Chicago, Arizona, Dallas, Charlotte etc.
b. metropolitan areas that might not be as cosmopolitan, such as my city Cincinnati, Indianapolis, Minneapolis, Pittsburgh (could move to A), Louisville, other New England cities, etc.
c. small Midwest, southern and western cities
d. little towns everywhere
2. Portrait Medium