Painting Prices!

[Former_Member]

How do you guys determine how much to charge for your art? I have always had a hard time pricing, and I have only sold one painting here on Etsy. I was wondering if you guys had some advice or could tell me if I am on the right track?!! Thanks

[Former_Member]

I charge like this, the size of canvas I use, the time I spend on it, and the materials I use. Factor in your costs, and then double that price for your selling price. That is what I do, if it makes sense. Remember its a job, and its a business, you want to make money off it.
Don't undersell your work or you will be out money. Art is expensive because of the hard work that an artist puts into it, its not just an image someone buys they are paying the artist for their hard work and their time. I hope this makes sense.

[Former_Member]

Yea for sure, I find its hard to estimate the time I spend on a painting because I do it at random intervals. I also don't want to under or over price and detour buyers. Its hard to find a balance!

[teabreaks]

I know I undercharge for my work, but on the other hand I am retired and it is a hobby for me.... I find that by keeping my prices low I make more money. I used to charge more but had few sales and yes I realise that I might have to work harder but my profits are up now that I sell at lower prices.

[Former_Member]

Brenda,
I would love to be retired and do it as a hobby. I love art and always have! Your work is so detailed and blows me away how you can paint things so little on those ACEO's! Love your work!

Mike and Mollie,
One thing I have learned through selling is that if someone wants it they will pay for it. Everything that I sell includes my shipping price in my item price. So my prices are a bit higher to cover shipping. (I live in Canada) shipping for 16 x 20 in Canada is way cheaper then shipping the USA so my prices cover me on both ends. And still offer the buyer free shipping.
I charge less for ACEO's anywhere from $4.99-$25, but this also depends on what it is and the time I put into it. Come up with an hourly price for yourself and try to keep track of the hours for your work (like you would a regular job).
I looked at your paintings and would really encourage you not to lower your prices (its totally up to you) your "Obama Commander in Chief" is amazing! If you choose to lower your prices that's up to you, I think your prices are good where they are. Keep you with posting in teams, promoting yourself and others, and making treasuries. It will come with time. I hope this helps.

[Former_Member]

Anna- Thanks so much for your help- I raised them a bit within the last two months and I am glad you think they are good where they are at.

Brenda- I too paint as a hobby - I would be living on the street if I considered it my job. Thats also why I have never thought of counting my hours or materials either. I will have to work on thinking more business like in the future :)

Good luck to both of you as well.

[Former_Member]

Good luck to you also and you are very welcome! I know I had people telling me I should sell my 16 x 20 for $30 (this was also family and years ago) if I did that I would never make any money off it, and that doesn't even cover cost. Lol
If you have anymore questions feel free to ask, I will help you to the best of my abilities :) if I can't help I will point you towards someone that can.
Best of luck in all your future en-devours

[jenuineserendipity]

I dont price by size b/c i deal with miniatures 3x3 canvas and altoid assemblage
so its TIME and materials
sometimes the smaller the art the more labor intesive it is and more expensive in detail brushes etc
to create the artwork
I mainly go by time and I too paint or create in intervals ---sometimes days at a time for the concept and tweeking
I comparison price on the internet what similar items are priced at for a range and go somewhere in between that
If i am creating a similar pice that has already been one of my published pieces then the price is higher
shop around to compare similar items and guage as needed for your price