Trying to find the right price?
When it comes to figuring out prices for your prints, there are a lot of factors to consider. Let’s get into them:
Materials:
Consider the cost of paper, ink, and any other materials that go into creating the print. This should be factored into the price of the print. For example, if you use high-quality, archival paper and ink, the cost of the materials will be higher and should be reflected in the price of the print. For example, if the paper and ink cost $50 and you want to add a markup of 50%, the print would be sold for $75.
Time And Effort:
Think about how long it takes to create the print and the level of skill required. A print that takes a lot of time and skill to create should be priced accordingly. For example, a woodblock print that takes several weeks to carve and print should be priced higher than a lithographic print that can be printed in a few hours. A woodblock print might be sold for $200 while a lithographic print might be sold for $100
Market:
Look at the prices of similar prints on the market and consider how your print compares in terms of quality and uniqueness. For example, if you see that other artists are selling similar prints for $100, you may want to price your prints competitively in that range. For example, you could price your print at $120 if you think it is of higher quality or more unique than the others
Edition:
Limited edition prints should be priced higher than open edition prints. For example, a limited edition print of 50 may be priced at $300, while an open edition print of the same image may be priced at $150.
Artist Reputation
If you are a well-established artist, you can charge more than an emerging artist. For example, a print from a well-known artist may sell for $1000 while a print from an emerging artist may sell for $300
Location:
The prices of your prints may vary depending on where you are located. The prices of prints may be higher in urban areas than in rural areas. For example, you may be able to charge more for your prints in a city like New York or London compared to a small town. A print sold in a city could be $500 while the same print sold in a small town could be $250.
Subject:
The subject matter of the print can also affect the price. For example, a print of a famous landmark or a portrait of a celebrity can be more expensive than a print of an everyday scene.
Size and Format:
Larger prints or prints in a unique format can also be priced higher.
The Artist’s Own Pricing Strategy:
Some artists may choose to price their work higher to reflect the value of their work, while others may choose to price their work lower to reach a wider audience.
So…
All these factors can affect the final price of the print, and it’s important to consider all of them when determining a price for your own work. Of course, these are just examples and the actual prices will vary depending on many factors, but they should give you an idea of how you might approach pricing your own prints.
“Is there an effective pricing formula I can use?”
Pricing your prints can be a bit tricky as it depends on various factors such as the materials used, the time and effort put into creating the print, and the current market conditions. Some artists use a basic formula as a starting point, such as:
“Cost Plus” method: This method is where you calculate the cost of materials and the time you spent creating the print, and then add a markup to that amount. For example, if the materials and time cost $50, you may add a markup of 50% to 100% to arrive at the final price, which would be $75 to $100.
“Three times cost” method: This method is where you calculate the cost of materials and the time you spent creating the print, and then multiply that amount by three to arrive at the final price. For example, if the materials and time cost $50, the final price would be $150.
It’s important to note that these formulas are just a starting point, and you should also take into account other factors such as your reputation as an artist, how unique and high quality your print is, and the current market conditions. It’s also a good idea to research prices of similar prints from other artists to get an idea of what is fair. Also, don’t be afraid to adjust your prices as you go, if you think they are too high or too low.
You got this!
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What are some other tips or strategies you have found helpful when pricing your own prints? Share with us in the comments below to encourage us!
“And whatever you do, whether in word or deed, do it all in the name of the Lord Jesus, giving thanks to God the Father through him.”
– Colossians 3:17
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