Pricing question: Prints

[Former_Member]

I just listed my first print. I based the price on what I see other prints going for, BUT, as you know, the ones you can see are the ones that haven't sold.

Bearing in mind the cost to me is about $20, what do you think of $40 as the price for a 24x35 print, the image being 16x16? Too much? Too little?

http://www.etsy.com/listing/72753083/fine-art-print-december-lake-street

[RobinsArtAndDesign]

I use a formula to price my items. Cost of materials x 2 plus labor (whatever you think your time is worth) x 15 or 20% for overhead to cover your fees and such. So, if the item costs you $20 to make, by charging $40, you're only making $20 profit.

[Former_Member]

Well, I raised the price. Looking again, I saw that most of the prints going for $30-$40 were actually much smaller than this one. The question is, will anyone pay this?

[Former_Member]

... And then I lowered it again. I just don't know. I didn't put any work into the actual prints; I just ordered them. They cost me around $20. The actual painting was many hours of work but the materials only cost around $12. Does one include the labor put into a painting when pricing prints? I'm so lost.

[Former_Member]

Bear in mind that you are offering a print of your original work, so you could sell many of those as you want (unless you make an edition limit and use that as an exclusivity feature). I think you include labor in pricing for things like jewelry, which can be more easily measured. Thought, reflection, process of painting can take allot of time. After it's complete, and you make prints from it, I think you have to let it go. Price the prints to sell. If you choose to offer the original painting, then you think about what it's worth to YOU to let it go.

16" x 16" is a bit larger than most I've seen in the short time I have been on Etsy. I notice there are several artists selling 8" x 10" prints for approximately $20.00. So, you seem to be right in the ball park. Maybe a buyer will think they are getting a deal on extra footage with your stuff!

Don't worry about feeling so lost, we all feel that in the beginning. Patience, perseverance, and remembering it's a learning curve will help. See what works, and build on that.

Good Luck and have fun!