"Pricing artwork has always been a hot topic for artists - and has always seemed to be 'unanswerable,' but it's not. There is a formula, a relatively easy formula that is based on simple math and then is balanced with the realities of the marketplace." Alexandria Levin, author and educator

Why educate yourself now?
Artists have always had a tough personal economy. We have experience with obstacles to easy money. You know that the general economy is not doing well at this time. That means that the art world will feel the trickle down effects of smaller budgets and longer times between purchases. It does not mean art sales stop - they slow down and take longer to close.

Pricing your work to build your confidence
Pricing artwork in and of itself does not build confidence. But what you want is to be able to set a price range (or a pricing structure) for your work and be able to back up your decisions with confidence. Having confidence about how you price your work means you don't need to make excuses, and you won't seem insecure when discussing your prices with a gallery, curator or a collector. You will have solid justification for the decisions that you make.

Having a strong pricing structure that makes sense to you gives you that confidence to ask for the price you deserve for your work. Giving off an aura of confidence makes for better sales. Valuing yourself as an artist gives the impression of more value to your work, and therefore gives more value to the collector/customer.

Value is what you put into your art making and marketing. Price is what people pay.
You are in charge of your art and your marketing. You can build the value of your work in many ways (but that is a larger topic).

Your collectors and customers are in charge of your sales. The price of everything - not just art - is ultimately determined by what "the market will bear" i.e. what people are willing to pay for what you have to offer. Pricing is shorthand for how much the people in the art market value your work.

Here are 3 resources to guide you. If you follow the directions and suggestions, you will more than recoup your modest investment.

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Resource #1: A Teleclass (class by phone)
called "Balancing Value and Price with the Market"
Thursday, March 26, 2009, 4:00 pm Pacific Time

Pricing is more than time, materials and overhead; it includes soft concepts like value, which are harder to assess. This class is for you if you are math-friendly and want to create or revise a new formula for pricing your work.
$19.95 includes Live Class, Class Recording, PDF Outline
www.artistcareertraining.com/classes-by-phone

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Resource #2: The book "Pricing Your Work with Confidence," by Alexandria Levin.
A detailed guide to understanding and calculating the actual cost of creating artwork. It helps artists of all kinds become well-informed and self-confident, while developing a solid pricing structure. Topics include raising prices, growing your career, being comfortable with money issues, and how to separate business and creativity when necessary. It is written by an experienced artist who believes that knowledge is power.

Price: $22.95 plus shipping and sales tax in CA
www.artbusinesslibrary.com/artist-money-matters

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Resource #3: Recording and Guide - "Pricing Your Art to Sell"
by A.C.T. Artist Advisor Aletta de Wal.
This guide is for artists who want to calculate retail prices for originals and giclées to sell directly to collectors, arts professionals and through galleries. This guide complements "Pricing Your Art with Confidence" by Alexandria Levin; it does not replace it and also covers the three reasons to build your pricing strategy:
- Pricing your Art & Accomplishments = A Marketing Strategy
- Pricing to Promote = Positions Your Work in the Art Market
- Pricing to Sell = Perceived Value Matches Audience Budget

Price: $29.95 Includes Recording and Guide
www.artbusinesslibrary.com/artist-money-matters

So stop worrying if your prices are right! Take action to make sure you know how to ask the right price for the value you create.