Combining the ideas to create a piece of art might seem like the only tricky thing an artist has to go through, though the reality throws uncountable such concerns when it comes to art and its sale. After getting over the hard part that creating an art piece is, an equally hard phase awaits the artist, which is pricing their artwork. Any artist who wishes to share and make money out of their hard work has to face this problem, even more, when you are a beginner. Pricing your art is more than just putting any random price range over it.
There are many factors that an artist has to work upon while marketing their art for sale. An efficient price range that satisfies both the artist’s hard work and a price that the buyer is willing to pay is the ideal price of an artwork. This balance is hard to comprehend and takes a lot of research with patience to reach a concluding value. We understand how hard the whole process can be, considering which, we have curated an informative piece for your convenience. Here are six mistakes that you need to avoid while pricing your artwork.
Lack of research
As an artist who wishes to sell their art online or offline, it is essential to prepare yourself beforehand regarding the ongoing trends and current rates. No, you do not have to compare your art with other artists, but you might want to consider gaining insight by going through their work and comprehending the rates accordingly. Every artist puts a relevant price on their artwork after going through a lot of research regarding the artwork in trend, the one most likely to get sold or the ones that are currently popular among art lovers. The rates are not limited to that. The cost of art supplies and the time you put into its creation also makes a huge difference. Consider seeking advice from a pro in this field, or the internet might provide you with precise knowledge on how to price your art.
Different prices for different platforms
Think about this point from the perspective of a customer. As much as you like to check out more than one shop for the same item to compare the most reasonable prices, your customers might do the same. Setting random prices on your artworks on different platforms might confuse your potential customers into believing they might be overpaying for a thing. Consider the market list before setting your rates to ensure consistency on every possible platform. Shipping charges might vary with the customer’s location, but try maintaining the consistency while pricing your artwork, whichever platform you choose to sell.
Unnecessarily low prices
New artists often make this mistake. To increase the reach of their art among the masses, artists deliberately cut down or rate their artworks at low prices than reasonable for even them. Although this idea might invite a few more buyers for you, would it not make you feel resentment towards the buyer? If you think and your artwork genuinely demands a higher rate for its value, then do not hesitate to raise the prices. Instead of creating artwork with a sour mindset to spread among many, create something with a happy heart for only a few. The artwork is not only going to adorn someone else’s household, but it also holds your honest expressions, so do not compromise with it.
Running sales steadily
Running sales once in a while is a treat for your buyers to get their most-eyed artworks from your shop, though constant sales with near to no profit can drain you very soon. While you are consistently treating your followers with frequent sales, no one will take the original price list seriously, might also believe that the rates are overpriced. You have to maintain stable cash flow, and continually availing sales for the customers can be a prominent hurdle in that.
Comparing value with price
The most challenging task for the artists while pricing their artwork is to balance the gap between the actual cost of artwork and the price that you intend to accept for it. Frankly, nothing can match the value of talent or hard-earned skill, which is creating art, though you must gather thorough information to settle on to a price that meets the needs of both the parties.
Giving in to negotiations easily
To all the hesitant artists that give in too soon to the customer’s requests, it is time that you stop negotiating the price of your artwork constantly. We understand how negotiations are significant for both the parties, but continually indulging in negotiations will never be favorable for any artist. Stand your ground to meet the deal that your artwork deserves, choose to negotiate when they are genuinely needed.
These are some of the mistakes that you might want to avoid while selling your artwork. There are always going to be new experiences while selling art, so make sure you keep learning from them to grow into a better artist and an even better seller!