[Tom Edgerton]

I appreciate all of these comments...

I do see a problem with the notion of charging a basement-level price with the expectation that it will "get one's foot in the door." A lot of artists start this way, and it's a trap. Unless you live in a very large town, word gets around that you work cheap, and that you're susceptible to discounting for no reason if asked. Thus, people realize your price isn't really your price.

I've been at this long enough to know that--except for the advertising I think I have to do because I'm afraid not to--a very large percentage of my commissions will be word-of-mouth referral or repeat business. If you've given the work away at the beginning, you will fight for the rest of your career to overcome the stigma of a chronically too-low price because believe me, word gets around. And it's hard to change people's perceptions of you later.

Better I think to assess, as objectively as possible, where on the portrait curve you fit by looking at the prices of comparable artists (you can start here at SOG), and averaging those and starting there. If you're going to be painting people anyway, why not get decent money for it from the beginning? Better to charge as much as you can and still look at yourself in the mirror than to hamstring yourself by starting out too low. One side effect is that you will work very hard (and get better faster) if you are trying to be worth what you're charging. I scared myself this way when I launched the business and it actually was a very good motivator.

Factor in the "perceived value" aspect, where folks assume if something costs more it must be better whether or not it actually is, and you begin to see how complex it gets.

In regard to discounts, a good rule of thumb is to never, or at least rarely, give an "unearned discount." For example, offer a discount if someone will give you an unveiling party at their house and invite thirty of their wealthy friends. But don't discount unless you get something back for it.

Artists can be their own worst enemies when putting a value on their work. It's difficult to be hard-nosed about this--it's a learned skill--but your creditors will appreciate it.

(I think Debra's advice about raising prices is right on the money. I'd just add that occasionally you need to check for inflation. Several years ago I hadn't raised prices in a while, and I suddenly realized that comparable artists had left me behind because I'd been distracted by other things, like trying to be a better painter.)