Guidelines for pricing

What are the general guidelines for pricing portraits? I have seen a wide scale of fees on several websites. As a person who is ready to be a professional painter, I want to make sure that I do not undersell myself, but still get enough work.

I had a teacher who once said if you're not busy keep your prices low. If you're too busy raise your prices. Be careful of big jumps in your fees. 10% a year is a comfortable raise. Over a shorter period than you would imagine it becomes a signicant sum. You might also refer to the back of John Howard Sanden's first or second book, I don't remember which, where there is a chart outlining different fee structures.

I have the same concerns. I am currently keeping busy. But when I see the prices that other artist are getting. I wonder if I am underselling myself. If my prices are to low, I risk be considered an amateur.(and treated as such) If they are to high, I fear not getting customers at all. if anyone wants to see where my prices are right now they are welcome to give me pointers.

http://www.bartonstudio.com

The discussion has been great, truly informative, and on track - which I really appreciate! My question RE:PRICING is this: How do you reach the clientele who are ABLE to pay what your portraits are really worth??? Agencies, as a general rule, want you to already have "a following." Most of the hints/venues for marketing art on your own do not apply directly or very well to the portrait genre. I have been "professional" for several years and have a "waiting list" which will take me through this year plus some, but my clients are mostly middle-class people who expect K-Mart prices. If I raise my prices they will feel they can no longer afford the luxury (to them) of a portrait and I will be sans business, without having connected to the people who see portraiture in a different light and have the resources for it.

Does anyone have some guidance, real life success stories, et al, they'd be willing to share?

Hi, this is Cynthia Daniel, owner and creator of Stroke of Genius. I also managed a successful portrait artist for 6 years.

Regarding reaching the affluent market, there are a couple of networking to the affluent books in my Art Bookstore in the Marketing-Sales section. I've not read them and couldn't vouch for them, but I do notice that some have ordered these books. If anyone has read these books and would like to comment on them, perhaps this would shed some light. They are not specific to art, but I thought they sounded relevant for artists.

There's no magic formula for reaching the affluent and part of it has to do with the area of the country where you are. Some areas are easier than others because there is a greater tradition of portraiture. Typically, portraiture is very popular in the South for anyone who doesn't already know.

But, before you even start to pursue an affluent market, one thing would be to look at your materials and samples. Do you people in your portraits look like they are affluent? If not, you might not be chosen even if an affluent person sees your work. I've known artists who went out and hired an attractive model or got an attractive friend and had them pose in a gown...something elegant. All this just so they could have the type of portrait in their portfolio that would appeal to the affluent. Also, if you have only head and shoulders or bust portraits, this decreases the possibility of appealing to the affluent. This is very elementary, but often overlooked. Also, study some of the higher priced artists on my site and see what they are painting.

That's it for now.

Cynthia,

Thank you so much for taking the time to give me such a thoughtful answer. I was actually thinking some of those same things RE:my portfolio (hiring "affluent looking" models), and I shall look into ordering the book.

Nell

Nell,

You're welcome! If you read the Networking book (there's two actually) please post your opinion later.

Cynthia

[Karin Wells]

So you are new to portraiture but think that you are ready to turn pro and need guidance in setting your fees? This was once my dilemma too. I went to www.portraitartist.com and looked at all the painters, their paintings and their fee structure. I figured out where I fit into this group and compared the prices listed in what I thought was my general category. I decided on a price for a comfortable size portrait for me (20" x 24") to paint. Then I figured other sizes and prices loosely based on a price per square inch. Extra figures were extra $. I am trying to not increase my prices, but to paint faster without compromising the quality of my work. I make a comfortable living, and do not wish to price myself out of the market.

[Michele Rushworth]

Dear Karin (and others),

I am trying to figure out how to price my work while taking into consideration the part of the country I'm in (Seattle). There is not much of a tradition of portraiture here, in fact I've heard some folks refer to this as the no-man's-land of portraiture. There are hardly any Stroke of Genius artists in the Northwest for me to compare to.

Karin, is there much of a tradition of portraiture in New Hampshire, or do you travel to the South often for commissions?

Thanks!

[Karin Wells]

I live in rural New Hampshire and there is really no tradition of portraiture here either.

Probably due to my web site on portraitartist.com, most of my commissions come from other areas of the country so it does not matter where I live.

Oftentimes clients travel to me, and sometimes I go to them. I do not price according to the region I live in....I'd starve if I did that.

In the beginning my prices were somewhat lower and that was OK for a while. At some point, I found myself with too much work, hoping that the phone wouldn't ring again....and that is when I raised my prices.

Right now I am comfortable with my fees because I do not work through any reps... giving up 40% to 60% of my fees would hurt right now. I would need to raise my prices to compensate for representation and I'm not sure the market would bear it as I am not famous. Darn it.

Please understand, am not against reps...it is a good way to get started and stay in this business. They can certainly guide you from experience in setting up a fee structure for your work.