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Raising my prices
Hi-
I have been painting commissioned portraits for 13 years without a break. It has been wonderful in that it allowed me to stay at home with my children and to be active in their school. It has also been a wonderful way to be paid while I improve my art skills. I have kept my prices low because I have done very little advertising and those prices gave me a small but steady income, now I am ready for a change. I have some opportunities to teach and for the first time in 13 years I do not have a waiting list for the portraits. I am thinking this may be an opportune time to raise my prices so that they are more congruent with what I find on this web site. I live in the Detroit area and there are some pockets of wealth that I could advertise in. I am thinking of asking 2,500 for a head and shoulders, 4000 for a three quarter view and 6000 for a full figure. My prices are currently 800 for a head and shoulders and 1200 for full figure. (I can imagine Cynthia cringing as she reads this) Any thoughts on making the big price jump? I know I risk losing my current clientele but I feel as if I am ready to make this change. I am a little nervous doing this and I would appreciate any advice offered.
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