Hi Judson,
That's an interesting question.
Some things interfere in the price of a "product".
The forum members could help with the list, but here are my two cents.
Quality of materials, skills and what status it inspires.
A couple of days ago, I received the following article from Robert Genn:
Pricing for joy
July 5, 2005
Dear Bonfim,
This morning, Matt Krumenauer, a student of Fine Arts and
Theatre at the University of Wisconsin, asked: "Do you have any
suggestions on how to determine a starting selling price?
Especially for a younger artist with no reputation. I've
entered works into various showings and contests--and have been
asked to sell. What to do?"
Thanks, Matt. My advice to young artists of all ages is to
start off cheap. My rationale is that your prices can always go
up but should not come down. Early low prices ensure that
people will take an early position in your career. Nothing
better than a penny stock that goes through the roof. At your
stage, it's easy to feel that the investment in your education
entitles you to higher prices right out of the gate--especially
when you see the substantial prices of instructors and others.
Not so. Minor "green feedback" is better than finding yourself
dead in the water.
After a few sales at the bargain-basement level, you can then
look to price management in a more professional manner. In my
view, prices should rise sensibly and regularly. Ten percent
and once a year is the reliable norm. With gallery
representation there has to be a reasonable base so their
percentage will make it worthwhile for them. Consultation with
galleries is useful. Comparative price-checking is useful but
not always germane to your uniqueness. There is no single axiom
that determines at what price paintings or other works of art
should be. Generally speaking, size, not the amount of detail
or time taken, is the better guide. Thus an artist can provide
a range of prices that have various price points. At the low
end there's an opportunity for entry-level collectors, while at
the high end you can see if the big spenders will go for your
work. As a guide you might take a look at the pricelist on my
website:
http://www.robertgenn.com/dealers.html Don't forget
that I've been in the business for a few years and have stuck
pretty closely to the 10% rule.
The joy of your art process is one thing. The commoditization
of your art is another. It's something we learn to live with if
we wish to stay in the game and have a life. My advice is to
start low and yet keep an eye on the big picture. There are
rewards for those who do.
Best regards,
Robert
PS: "Artists should separate pride from price." (Eleanor Blair)
Esoterica: There's something to be said for making up your mind
on a pricing plan that will last a lifetime, setting it in
motion, and forgetting about it. With compounding you'll get
there anyway--much to the satisfaction of your early
collectors. When work is half decent, there's justice. The main
thing is to catch the breeze and sail on. "There is too much
talk and gossip; pictures are apparently made, like
stock-market prices, by competition of people eager for
profits. All this traffic sharpens our intelligence and
falsifies our judgment." (Edgar Degas)
Hope it helps Judson.
Hybrid Mode
