Pricing fine art original prints??

[Former_Member]

Noticing that there is a great deal of variance in Etsy prices for original art prints, and considering the time investment and high cost of materials to finally produce something like an etching, please discuss here how you all come up with prices. Do the usual formulas apply at all? Does an artist not consider the time involved in actual making of a plate, which certainly may make etchings and other original prints unaffordable? I would love some ideas on this, especially from successful sellers of fine art original prints!

[Former_Member]

In my OPINION, Figure out the time spent in making the original and divide that up by the number of prints you can make plus the additional time to help you come up with a reasonable price. The cost of all material used and how much YOU value your time must be included. It is appropriate to consider the original cost of equipment used but only to the extent of how many times you will use it and how long the equipment should last. Then, as I read in an Etsy article, you should also include what you think is a reasonable profit.

Hope this gives you an idea of how to go about pricing.

Bev

[Former_Member]

A BIG PS !!!!

I forgot to tell you how much I like and respect your work. It is exquisite.

Bev

[Former_Member]

Thanks Bev! Your input is most appreciated, as well as your big PS!

[Former_Member]

Hi Patty. I admire your work too.

My work doesn't sell on Etsy so my observation is not from the point of view of a successful seller. I maintain my shop here because it's cheap and it's good exposure. And I've met a nice group of printmakers through the site.

Etsy runs seminars on pricing that are sensible and interesting but if people followed the advice and priced their work according to the recommended formula, they would price themselves out of the Etsy market.

You can see the prices of items that SELL on Etsy by using the Market Research tool with a fairly broad search term. Looking up "printmaking" reveals that the most sales are in the $10-15 bracket, followed by the $25-29 bracket. The highest bracket they report is $50-54. How depressing is that!

See ... http://www.etsy.com/search?q=printmaking&order=most_relevant&view_type=research&ship_to=ZZ

Searching for "printsy" gives a slightly more positive result - and is probably more accurate because not everything tagged printmaking is actually a print.

http://www.etsy.com/search?q=printsy&view_type=research

I think the question should not be how to price your work for sale on Etsy but how to tailor your work to suit the Etsy market. So if you want to attract the $10-15 buyer, it has to be small, open edition, relatively simple, and probably cute. In the $25-29 range, you could be a bit more adventurous but still small, open edition, and appealing to a broad cross section of society.

Also, I think if you want to sell on Etsy you have to spend a lot of time marketing your work outside Etsy and directing potential customers to your Etsy shop. Etsy is so big now, it is very hard for your work to be found unless you put the time into promoting it yourself.

No doubt, some artists are making good sales here and it would be good to hear from them. Nonetheless, as a general comment, I would say that prices here are considerably lower than prices outside Etsy and the normal approach to pricing does not work here.

Ann Marie

[VisionsInPrint]

I'm in the same situation as Ann-Marie. I only keep a shop here for exposure and because I like the printsy group, but I don't sell much. I usually do multilayered screenprints, and it would be hard to make prints to sell for $10 or 15 due to the time involved in the process (isn't that true of most printmaking techniques?). I'm not sure Etsy is the right online venue for selling printmaking, to be honest, but I'm not sure what is.

[AnaDoraArt]

On the other hand, in another team I found this article, maybe this can help you
www.thedesigntrust.co.uk/how-do-i-sell-expensive-crafts-online/

[Former_Member]

Thanks so much for these great replies Ana, Ann-Marie and Clare! I am familiar with the wonderful work each of you do, as I do cruise through Etsy to see other prnitmaker's work, pricing ideas, and sales successes. I have in fact made many of the same conclusions so well stated by you all, and I appreciate that you verify much of what I have also been thinking.
I DO need to do more outside of Etsy to promote, and being so technically challenged, this is overwhelming and time consuming, but I am seeking help from a techno friend soon. Doing more affordable small quick pieces is possibly an answer I am also trying. My hummingbird series is meant to be that, but I must get even simpler. That will be my next challenge in my print room. Thanks Ann-Marie for the links, I will check into right now! Best to you all on Etsy and beyond!!

[Former_Member]

Ana, your link is especially helpful as I begin to read it. I will indeed get many things to work on from this link, so thanks so much for that!

[LizaPaizisCreations]

This is a great post Patty- thanks for starting it!
Your work is stunning, and your prices are definitely good. I agree with everything that has been posted here so far, especially with regards to selling any kind of original artwork on Etsy.
It is a great platform to sell, but it is up to the artist to promote their work outside and inside of Etsy.
Creating art is such a personal thing, and it is always a challenge to sell one's creativity to a large audience. But I have found that if someone really likes what you have made, they will buy it regardless of the price. Of course, it needs to be a realistic price!
My best selling etching has been my Sleeping Cats etching because it does have many ingredients that fit into more mainstream art: cats, colours, flowers, and whimsy...

Best of Luck to all - I have enjoyed seeing some new work here and new printmakers I never knew about on Etsy!

[RedTailStudios]

Pricing is confounding, even outside of Etsy! In the same gallery, similar linocuts often sell for differences in the hundreds of dollars.

As I don't have a 'name' yet, I have priced my artworks based on cost of materials X2, plus hours spent making (including conception, carving or etching, printing and mounting for sale/shipping/storage) calculated based on average US rate for Artists, then I divide all that by the number of prints in the edition. I often ask one of my galleries for an opinion before I list the work on Etsy, even if I am not going to sell it in that gallery. They usually encourage me to raise the price and I may adjust it a bit. Now, I try never to change my pricing for a piece once it's established.

This process often leaves me depressed, since I am basically halving my hourly wage when I sell through galleries. However, I must remember that I enjoy almost every minute of my chosen work (even cleanup!) and that clearly, money isn't everything!

Last year, I noticed that my 'hottest' (ha!) seller was my mini-print and agree with everything Ann-Marie said. Recently, I have gained some traction with my larger prints, so go figure!

[Former_Member]

Thanks Liza for more great thoughts on this subject!

[WilliamLeeHolt]

I'm really not sure how much pricing has to do with sales. I know that sounds ridiculous, but I think one really needs an image that is popular or "trendy". I've experimented with pricing, taking certain pieces and putting them on sale at HALF of what I usually sell for, and it still hasn't made any difference in my sales, so I won't be doing that again.

And I've noticed prints I wouldn't walk across the street to see selling very well, in the hundreds of dollars, here on Etsy and elsewhere. But it's "trendy" work. The type of work that gets tossed when ya buy a new sofa.

And here on Etsy, I find it incredibly difficult to even get found, what with inkjet reproductions littering the so-called "printmaking" section. Everybody with a home printer considers themselves to be a "printmaker".

So I am looking for another venue that represents printmaking, while weeding out reproductions being labeled as "original prints". I think the target market here on Etsy neither knows nor cares about the difference between "original prints" and "reproductions". They just want a certain image to hang on the wall, whether it's $20 or $100, if it's the image they want, they will buy it. As Ann-Marie mentioned, if you want to sell here on Etsy, you will have to start tailoring your work to this market.

I am not quite yet ready to do that...

[WilliamLeeHolt]

As an example: I recently had an interested party contact me Sunday nite. She was interested in purchasing one of my pieces. Price was not the issue. She wanted the colors changed. And wanted it by tomorrow. TOMORROW!

It just goes to show that the majority of buyers on this site don't know the amount of work that goes into making an "original" print. And don't care.

My advice is to just price your work at what you feel comfortable with. But don't just give it away to make sales. Besides, I tried that. Didn't work.

[Former_Member]

Wow, thanks for all these great insights, ideas and thoughts. I can really relate to it all and find some comfort in knowing I am not alone. To find that artist, printmakers I really admire on Etsy are actually finding the same experiences with this medium we love so much. That's all,

[annasee]

Great post Patty!

I, for one, get extremely frustrated when artists don't account for their own time, overhead (studio space, electricity, internet, etc.), and materials in creating a piece. I agree with you, that this all factors in greatly in the final sticker price.

With that being said, the question really is, how much is someone willing to pay for your work? I find that the Etsy market is not necessarily the best audience for fine art. Like any product, the art needs to make its way to the best target market for it. I've sold my work to larger companies that have wider reach and a more spendy, affluent clientele, and they've sold old of my work that was marked up 200x the price they bought it from me!!!!

Also, it depends on your brand recognition. I see artists on here that I admire from their outside of Etsy work, whether it be gallery, advertising, or editorial, and they will actually charge more for a SIGNED print.

Echoing what William said, like any business, you need to identify your target audience for your work, cater to it, and be seen in the right market. Etsy may not necessarily be the best market for certain artists but it's great to be seen on as many sites as possible!

I don't agree with reducing prices just for a sale because I noticed that if people really want it - they will buy it! I get frustrated when people undercut themselves for a sale when in actuality, it's a fruitless cause. That's like a country music artist trying to sell albums at a rap store. You can mark it down as low as you like, but the chances of actually selling become slim. Your work is great and you will find the right market for it.

There are some really great insights and feedback here and thank you for addressing this really important issue.

[annasee]

I'd like to add also, that art is subjective

What we artists like, the majority of consumers may not. I agree with William that sometimes I am shocked to see how well certain work is selling by artists that are merely imitating or jumping on the bandwagon....those Keep Calm and Carry On pieces come to mind. But, sometimes, we as originators and creators can dictate trends.

I think it's best to view ourselves as a business. Of course, we are not in it for the money as we are artists, but if we want to do it full-time rather than as a hobby, then it's good to identify the realities of catering to the majority and buying public in order to stay afloat. The classic illustration vs. fine art scenario.

[Former_Member]

Thanks Anna for you wonderful additions to this discussion! I know it gives e much to consider and reconsider, and I would guess many others will also do the same. My own conclusions after these many contributions to the discussion is that I will have to come up with some quick simple etches to really try to break into the Etsy market, while I continue to attempt to find a better place to find people who might like the etchings I love to put the time into and create. Perhaps a new discussion should be what market place works for printmaking artists!? Much appreciation to the contributors!

[kaslkaos]

Coming in late here, but what a good read, great questions are like that. My own pricing is all over the place, because one hand-pressed print is NOT like another. Some take days and hours, work spaced out over months, others are open edition single impression linocuts.
Sadly, I read confirmation of the impression I have from Etsy, 'cute' 'cheap' 'cats' sells. (and mermaids!). Luckilly, I love both cats and mermaids so I shouldn't complain too much. I post my absolute BEST 'fine art' prints, less in the expectation of a sale, and more as low cost way of setting up an on-line portfolio.

Anne Marie's links are one's I need to remember. I did NOT KNOW how to tweak keywords. I didn't even know 'printmake' was a word, and instead been labelling with more esoteric 'art school' terms.

Thanks everybody! Printsy is the Etsy forum I actually find well worth my time.

Quoting Anne Marie's post as worth repeating:
****
You can see the prices of items that SELL on Etsy by using the Market Research tool with a fairly broad search term. Looking up "printmaking" reveals that the most sales are in the $10-15 bracket, followed by the $25-29 bracket. The highest bracket they report is $50-54. How depressing is that!

See ... www.etsy.com/search?q=printmaking&order=most_relevant&view_type=res...

www.etsy.com/search?q=printsy&view_type=research

[minouette]

I'm kind of flabbergasted to see talented artists in this thread point out that Etsy hasn't been effective for them, because that makes no sense to me. If I had the budget and the wall space, I know I'd make a lot of purchases from artists on this thread!

I agree with all of the above. I don't think the relationship between price and sales is very straightforward. I put my prices up and my sales went up. I strongly agree with paying oneself a fair price for your labour and materials (though I confess my own pricing isn't a formula - it's more my intuitive sense of the value of my materials and time and typical prices). I don't think Etsy buyers will notice or care if you make a large or open edition, so that's one way to keep prices economical for people. I also think you can only make what you want to make and that reinventing yourself to suit what you think Etsy buyers want isn't likely to make you happy or successful. That said, you can choose to find those prints which you would naturally be making which fit well with what does sell and make a point of listing a bunch of those. I totally agree with Anna that these are businesses and we can do a lot to optimize our shops. It's worthwhile to read the Etsy blog articles and tips for sellers. If you happen to have anything in your shop which matches one of their trends, you can tag it appropriately. Check your shop stats and find out how people find you - then use those terms in your tags.

I also think it's important to have a variety of price points. I keep a few woodblock prints in my shop, for instance, which have a much higher price than small linocuts, simply as a means of showing them online (as Ingrid says)... but every now and again someone will buy one.

I think the most important thing is being found. I wouldn't underestimate the importance of promoting your site online and working to improve SEO.

I wouldn't worry too much about the Market Research tool's highest price bracket because the stats would be skewed by the reproductions erroneously listed in 'printmaking', which are obviously cheap. I'm sure higher prices are less common... but not as uncommon as skewed data will make it appear.

[Former_Member]

Wow, more great responses on this question from people who have excellent and intriguing, and successful shops here on Etsy. So many good ideas have come through on this thread! Thanks all!

[Former_Member]

I participated in several Print Sales in college, so I learned what prices people with smaller budgets are willing to pay. I also have learned, by moving things onto Etsy after graduating, that prints don't sell as well online as they do in person. I sold a lot at each of those Print Sales, but have sold very few in my Etsy shop.

[Former_Member]

Thanks for sharing that experience. I think the next follow up question will be exactly that: what have others found as a best market these days for actually selling fine art prints? I'll pose that one now for the team so others can share ideas and experiences on this. It is very helpful to get these insights from wide and near.

[Former_Member]

Artists can raise the pricing here on Etsy ! Many comments here suggest that low prices are expected, are the norm. Yet, many do sell at higher, but fair value pricing.
Those who call themselves artists, should value their work and themselves too. $12.00 for print,no matter how small does not cover the cost of materials to say nothing of artist's time!
There are many formulas for pricing, but basically compute materials, time, your own value, size factor or other media criteria and be sure to adjust periodically to reflect rising material costs and your own advancement too.

[Former_Member]

THanks Bonnie,
These are wonderful comments and I for one appreciate your insights!