Are you wondering: 'How much is my art worth? How do I price my art fairly?' If you are pricing your art for the first time, it's hard to tell. Most artist base their calculation on their past sales. What if you don't have any?
I recommend calculating all the production costs as your baseline price (the minimum you need to charge your customers). After knowing how much it cost you to produce those artworks, you can adjust the margin you wish to earn later on.
Let's add up the following costs:
01:47 Material cost 🎨
03:06 Labour cost 💁
03:58 Business cost 💼
05:14 Marketing cost 📢
06:13 Taxes 🗃
07:18 Other unexpected costs ⛈
You can calculate all the above-mentioned costs in a period of time (e.g. 3 months, 6 months or 12 months), then divide by the number of finished works in that period. It's especially suitable for commissioned art, because you know you will be able to sell all of your works.
This formula provides you with a rough idea and minimum price. If you manage to sell at a much higher price, you know you could price your works higher. You can get more confident and ambitious with time.
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11 окт 2024